The study of social resource allocation (SORA) based on the Adam Smith and David Hume.View our posts Theory of Moral Sentiments Wealth of Nations
"Nothing can be more absurd than this doctrine of the balance of trade [modern equilibrium]. This doctrine supposes that when two places trade with one another, neither of them loses or gains if the balance be even. But if it leans in any degree to one side, that one of them loses and the other gains, in proportion to its declension from the exact equilibrium. Both suppositions are false. A trade which is naturally carried on between any two places is always advantageous, though not always equally so, to both. It is always the people’s interest to buy whatever they want the cheapest. This proposition is so very manifest that it is ridiculous to take any pains to prove it. It could never have been questioned had not the sophistry of merchants and manufacturers confounded the common sense of mankind."
Economics is based on Physics as proven by the extensive use of Calculus and the removal of Moral Philosophy during the mid-19th century. Prior to that, Economics was called the Political Economy which was largely based on law, morals, and not math.
Economics was created by Paul Samuelson from MIT which is a physics school. In contrast, David Hume and Adam Smith came from University of Edinburgh and Glasgow which had a balance of arts and engineering.
Economics sees things in purely objective monetary terms and has no way to measure abstract things like goodwill, psychological benefit, and human suffering. SORAnomics is based on metaphysics and can measure abstract patterns in order to add a moral valuation system to encourage people to end hunger and environmental destruction.
Economics was established in the 19th century when the world was undeveloped and natural resources were untapped. As such, it is hard-wired to prioritize revenue growth over sustainability, willing to destroy the planet for the sake of money and GDP.
Find out how SORAnomics turns the economy into a dharmic system that allows everyone to achieve their goals in life.
Know the cycles of revenue in order to keep wages stable and avoid budget deficits and recessions.
Find out how Purchasing Power replaces GDP as a measure of a society's wealth, without needing any new arbitrary index.