Jam Tomorrow?: Why time really matters in economics

Einstein's concept of time recalibrates economics, recognizing time as a key variable underpinning the economic cycle. Each economic agent has their own time horizon, and economics is the realm of the animal that chooses to save. Jam Tomorrow? builds a new theory of value based on our economic perception of time, redefining the relationship between value and price and creating new possibilities for understanding economic and market history.

Format: Hardback
Length: 352 pages
Publication date: 16 November 2023
Publisher: Whitefox Publishing Ltd

Over 100 years ago, Einstein revolutionized our understanding of time, shifting it from a fixed measurement to a relative one. This shift was not only more accurate but also aligned with the specific needs of the body it concerned. While physics, particularly at the quantum level, has made significant advancements, economics continues to be influenced by the outdated Newtonian notion of time as a fixed and intergalactic tape measure.

Jam Tomorrow? employs Einstein's conception of time to recalibrate economics, placing time at the center of the economic calculus. In contrast to previous ideas such as supply and demand or utility, time becomes the primary variable underpinning the economic cycle. Instead of merely occupying the x-axis of graphs, time emerges as the key factor driving the economic cycle, with our collective time horizon expanding during booms and contracting during recessions.

Each economic agent, whether an individual, household, corporation, or government, possesses their own time horizon, reflecting their specific needs and desires. It is the interplay of these factors that constitutes the proper domain for economic analysis. At the most fundamental level, every economic decision revolves around time. The basic economic choice is between consuming in the present or delaying that consumption to the future through saving. Humans, unique in their degree of self-awareness and awareness of their existence in time, consciously decide to delay consumption, recognizing that actions taken in the present can impact the future.

Economics, therefore, pertains to the realm of animals that choose to save, and it is a temporal realm. Jam Tomorrow? constructs a novel theory of value based on our economic perception of time. It redefines the relationship between the concept of value and price, incorporating a new temporal theory of money. This innovative approach challenges traditional economic paradigms and offers a fresh perspective on the dynamics of the economy.

By embracing the temporal nature of time, Jam Tomorrow? provides a valuable framework for understanding and analyzing economic phenomena. It emphasizes the importance of considering the timing of economic decisions and the impact they can have on future outcomes. The book encourages policymakers, businesses, and individuals to reevaluate their approach to time and incorporate a temporal perspective into their economic thinking.

In conclusion, Einstein's revolutionary conception of time has transformed our understanding of time and economics. Jam Tomorrow? leverages this concept to recalibrate economics, placing time at the core of the economic calculus. By adopting a temporal perspective, we can gain a deeper understanding of the economic cycle. This approach offers a valuable framework for analyzing economic phenomena, challenging traditional paradigms, and promoting a more sustainable and prosperous future.

Weight: 496g
Dimension: 163 x 242 x 36 (mm)
ISBN-13: 9781915635624