HEM (Holistic Economic Metrics) Defined

[CanyonLakeTX]

I only will point out a few issues here.

You stated the tangible bulk of our activity is invisible.

I do not know if you are referring to in the holistic world, world of accounting on paper, or in terms of physical observation.

I have to say in the physical world, Industry is very visible.

You stated natural systems are inherently successful. Many extinct life forms that were not successful.

If you build an IT system that knows everything. Who or what is going to audit it?

[neotoy]

Thank you for the comments. Obviously I don't know everything, so this is an ongoing learning experience.

Yes I am referring to the holistic world, which includes accounting, physical observation and the relationships between the two. Which are measured independently but not holistically.

I was also referring to the holistic nature of natural systems, which include extinction as a functional part of the whole. ie. the dinosaurs may die out but the ecosystem thrives.

[neotoy]

As for auditing. I will admit that this is the one difficulty I am having with my own analysis of HEM. As I recommended in my initial davos video the ideal auditor would be an internationally recognized authority like the UN.

Such a system should also be made available online, essentially open source, for anyone to examine and audit, otherwise the integrity is questionable. The whole point is to reveal information and make it available. Allowing everyone to "know" everything.

[CanyonLakeTX]

Yes, I have often wondered if our government is too complex for the individuals we employ to run it. Most of the time the left hand of the government doesnt know what the right hand is doing.

[FeelFreeToArgue]

Wow, I really loved this video. As you might've guessed, this is where my thoughts have been heading lately. I look at our economic activity and I find it to be increasingly shallow and divorced from biophysical reality. There is much left off the ledger in our current calculations of profit and loss - many factors which need to be added back in before we get a true and complete picture of ourselves as economic actors in the world.

[neotoy]

Such a simple concept and yet so hard to communicate! I'm glad that you seem to get it. I was really worried that I'd just made the idea even more oblique with this video. Hopefully this will put most of the questions to rest.