5 August, 2010
This was written back in 2001 but on reading it again, with some changes, I still think it has possibilities. Reprinting here was triggered by the FLATTR system (see also my piece, ‘How to build a real Web Economy – a socialist one’).
MIMO (More in More Out)
A socio-economic model for the 21st century
MIMO is a ‘work in progress’, that starts from the point where use value is transformed into cultural capital and, over time (as with the evolution of money from being a portable form of barter, to being a commodity) establishes a mechanism for measuring value generation that has meaning in the real world, insofar as it can compete on ‘equal terms’ with the world of traditional, commodity-based use values determined by (in part) production costs. A list of additional resources can be found at the end of this page.
In an age where machines are performing an increasing amount of real as well as virtual production, finance capital itself is under threat (without wage labour, capital ceases to exist).
- Globalisation is accelerating this process by distributing production globally and hence costs.
- But ownership of intellectual capital (which is central to any modern capitalist economy) is concentrated in the developed world.
- As wealth creation, dominated by the developed world shifts to intellectual products (communications, currency speculation, financial services, entertainment, education, sport, in short, information-based production as a whole), the developing world and those without intellectual skills in a saleable form, are increasingly marginalised.
- MIMO addresses these issues in part, by putting a value on human life itself as the source of ideas and experience, which can be traded because MIMO enables them to be valued statistically.
- Continue reading →