#UpgradeEconomics with #SocialCapital Metrics
Vinny Tafuro |
• April 2018
Social trust driven by our capacity for love and empathy have allowed humans to build civilizations and question everything about our existence and place in the universe. In the last three centuries, however, the pace of change has outpaced our understanding of the cultural operating system today described as economics. Where contemporary economics is narrowly focused on the production systems of the Industrial Age the digital economy driving the Knowledge Economy must be evaluated more holistically. Vinny Tafuro, economist and author of Unlocking the Labor Cage (LaborCage.com) takes us on a journey through key upgrades in economics to our contemporary challenge; measuring all human value as part of the economy. Tafuro points to Big Data as the digital manifestation of Adam Smith’s ‘invisible hand’ and to business innovations such as Conscious Capitalism and the B Corp movement as key opportunities to #UpgradeEconomics with #SocialCapital metrics to #GoBeyondGDP. A new era of economics where viable metrics that count what GDP cannot see are used to incentivize private investment in societal well-being, education, and scientific research. Tafuro is a founder of the Institute for Economic Evolution (EvolveEconomics.org), a research institute advancing economic research that evaluates society holistically by including all stakeholders and all available data to better address contemporary challenges. IEE is working to evolve economics to embrace change as quickly and vibrantly as the society to which it is responsible and is part of a global network seeking Solutions for Environment, Economy, and Democracy (https://seed.uw.edu). Author of two books, he is a pioneering advocate for the twenty-first century economy disrupting society's most rigid institutions and beliefs. His economic theories explore the societal and economic shifts being catalyzed by corporations as a result of technology, corporate personhood, and evolving human cognition.