{"id":282,"date":"2009-07-24T11:09:42","date_gmt":"2009-07-24T19:09:42","guid":{"rendered":"http:\/\/www.socio-economics.com\/?page_id=282"},"modified":"2009-07-24T11:15:02","modified_gmt":"2009-07-24T19:15:02","slug":"social-evolution-and-the-economics-renaissance","status":"publish","type":"page","link":"http:\/\/www.socio-economics.com\/?page_id=282","title":{"rendered":"Social Evolution and the Economics Renaissance"},"content":{"rendered":"

\u00a9 2009 by SocioEconomics, Inc.
\nby John Boswell
\n<\/em><\/p>\n

Much like America\u2019s current socio-economic circumstance, the \u2018dismal science\u2019 of economics is undergoing a radical transformation.\u00a0\u00a0These two upheavals are not unrelated. Our collective socio-economic philosophy, which places excessive emphasis on consumption, is giving way to a new paradigm of responsible capitalism. Likewise, the philosophies that have dominated economic policy for the last several decades have clearly failed in the face of adversity must now be seriously reconsidered, as well as new methods promoted.\u00a0\u00a0\u00a0In the cover story to the July 19th<\/sup> issue of\u00a0The Economist<\/em>, the sea-change in the field of economics brought about by the financial crisis and worldwide economic downturn is investigated with healthy, skeptical inquiry. However, like most mainstream economics debates, it fails to consider the importance of sociological factors in developing a new theory of economics.<\/p>\n

Macroeconomics is undoubtedly undergoing a severe stress-test.\u00a0\u00a0Economists Dr. Jack Lessinger and Ranger Kidwell-Ross are proponents of a largely overlooked perspective of economics that ties in with the sociological and psychological state of an economy\u2019s citizens: the theory of Transformational Socio-Economics.\u00a0\u00a0After decades developing his theory, Dr. Lessinger has identified several socio-economic paradigms in America that overlap and cause depressions.\u00a0\u00a0Viewed from this perspective, the current economic cacophony is part of a natural cycle of social change that takes place on the scale of centuries.\u00a0\u00a0From the perspective of\u00a0The Economist<\/em>, the prevailing and competing viewpoints fall into just two camps: One is the de-regulatory, free-market approach that has held sway in recent years and was partially responsible for the origins of the financial crisis. The other is the Liberal\/Keynesian approach that favors regulation and government spending to smooth business cycles and protect against any rotten byproducts of the free market.\u00a0\u00a0Although there are\u00a0valid points on both sides, the bigger picture is left out in both cases.<\/p>\n

Economic policies, through the lens of Lessinger and Kidwell-Ross\u2019 theory, should be tailored to help smooth the transition from one socio-economic paradigm to the next, not by adhering to one school of thought or another purely on principle.\u00a0\u00a0We are in the midst of a social upheaval that will transform our culture and economy, away from our fading consumerist-philosophy to a new era of prosperity. The new paradigm, as they see it, will be one they term \u2018Responsible Capitalism.\u2019<\/p>\n

The two prevailing camps of economic thought have too little of a connection to this fundamental component of how an economy functions.\u00a0\u00a0The transition from the consumer economy to responsible capitalism will have to be understood, promoted and smoothed by the government and its citizens. Only if that is done will be able to avoid the likelihood of further social unrest and consequential economic struggles.\u00a0This will have to come about through popularizing the notion that society must embrace this transformation. For example, the incentives that corporations and individuals have will need to be re-structured to better suit the incoming social paradigm.<\/p>\n

The science of economics requires better integration with the sociological philosophy of the individuals that comprise it. This necessarily must include:<\/p>\n

\u2022 Placing utmost importance on paving the way for clean, renewable energy;<\/p>\n

\u2022 Reconfiguring and updating national infrastructure to fit new societal values;<\/p>\n

\u2022 Stressing environmental responsibility among both business and bureaucracy;<\/p>\n

\u2022 A distancing of the ingrained notion of consumption as nearly the sole driver of economic\u00a0\u00a0growth;<\/p>\n

\u2022 Emphasizing long-term budgetary responsibility;<\/p>\n

\u2022 And many more adjustments to the structuring of society.<\/p>\n

The Economist<\/em> concludes \u201c…a broader change in mindset is still needed.\u00a0\u00a0Economists need to reach out from their specialized silos\u2026 For in the end, economists are social scientists, trying to understand the real world\u201d (p.12).\u00a0\u00a0This notion of branching out, coupled with the up and coming theory of Socio-Economics, is precisely the type of transformation the dismal science needs to appeal more intimately to the people that make the economy run. In fact, doing so is vital in the quest to restore our country to prosperity.<\/p>\n

For more information on the socio-economic upheaval transforming America, see <\/em>The Great Prosperity of 2020<\/a>, coauthored by the founder and president of Socio-Economics, Dr. Jack Lessinger and Ranger Kidwell-Ross.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 2009 by SocioEconomics, Inc. by John Boswell Much like America\u2019s current socio-economic circumstance, the \u2018dismal science\u2019 of economics is undergoing a radical transformation.\u00a0\u00a0These two upheavals are not unrelated. Our collective socio-economic philosophy, which places excessive emphasis on consumption, is giving way to a new paradigm of responsible capitalism. Likewise, the philosophies that have dominated […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":43,"menu_order":0,"comment_status":"open","ping_status":"open","template":"page_fullwidth.php","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"_links":{"self":[{"href":"http:\/\/www.socio-economics.com\/index.php?rest_route=\/wp\/v2\/pages\/282"}],"collection":[{"href":"http:\/\/www.socio-economics.com\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"http:\/\/www.socio-economics.com\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"http:\/\/www.socio-economics.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.socio-economics.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=282"}],"version-history":[{"count":3,"href":"http:\/\/www.socio-economics.com\/index.php?rest_route=\/wp\/v2\/pages\/282\/revisions"}],"predecessor-version":[{"id":284,"href":"http:\/\/www.socio-economics.com\/index.php?rest_route=\/wp\/v2\/pages\/282\/revisions\/284"}],"up":[{"embeddable":true,"href":"http:\/\/www.socio-economics.com\/index.php?rest_route=\/wp\/v2\/pages\/43"}],"wp:attachment":[{"href":"http:\/\/www.socio-economics.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}