I invented a new term today after chatting with a young lady over lunch. The term is ‘monoconomics’ or the single dollar hypothesis.
Monoconomics is a transcendental and relativistic approach to economic mechanics in the current reality much the same way that the special theory of relativity reinterprets our perceptions of and combines the constructions of space, time and gravity in physics. This dualistic approach to physics and ultimately our perception of reality can be likened as well to Richard Feynman’s One Electron Universe hypothesis wherein Feynman postulates that there exists only a single electron in the universe, propagating through space and time in such a way as to appear in many places simultaneously.
It is the illusion (and the appearance) of many electrons or more explicitly, many dollars, in the universe at the same time and in a multitude of places that can best be described by the Hindu term, Maya: “the illusion of a limited and purely physical and mental reality in which our everyday consciousness has become entangled.”
As proven by recent events in Japan, globalization has pressed microeconomics to its limit and has translated macroeconomics to a unifying theory ultimately guiding all economies instantaneously. As the nation state erodes, a function of misdirected monetary policy and inefficient social programs and the number of corporations become fewer through mergers, acquisitions and failure the eventuality of a homogenized economy will avail itself wherein the…