This book is based on the author's prior articles, which were published at the International Dialogo Conference between 2018 and 2021, a conference on science-theology dialogue. It is primarily aimed at a general readership, as it is simple to comprehend and only contains a few portions that require specific mathematics and statistical skills. This book also raises some moral problems about today's excessive consumption and discusses how a fall in religious belief has had terrible consequences for Earth and its inhabitants, particularly in Western civilization. Today's "intelligent" person does not believe in God, preferring instead to prioritise things like money, possessions, and toys, with devastating consequences for his home planet. Its first chapter, based on a set of assumptions, discusses transitions between states of an economic system and describes the early evolution of the first human economy in ancient times, as well as a first transition inside this first economy. This set of assumptions and ideas, which were used to describe the transition between the first two phases of the human economy, are likewise true for all subsequent human economy transitions. The second part of this book examines data available for Earth during the previous fifty years, utilising statistical analysis in the time and frequency domain as a tool, and highlights the magnitude of tragedy and danger that people have inflicted on their own planet. The third and final chapter examines the dynamics of an economic complex system, based on additional assumptions made in each of the models described in the study. These assumptions allow for the estimation and forecasting of a complex economic system's evolution. This estimation can be done in a "classical" manner, that is, without using big data, in which case the results are more prone to errors, or in a "big data" manner, in which case the results are considerably more precise estimations of evolution for the relevant complex systems. This chapter's final chapter employs an additive utility model as a general economic model to estimate additional value in an economy, based on topic assumptions for the various models discussed in this chapter. It also provides a practical solution and instructions for lowering the dangerously exceeded limitations (boundaries) in relation to Earth, building on the principles and theory of utility functions described in the first chapter of the book. Throughout this chapter, the term "with sustainable growth" refers to "ecological growth," which refers to long-term economic systems that consider environmental issues, whereas "without sustainable growth" or "conventional growth" refers to economic systems that do not consider environmental issues. The standard definition of GDP is likewise shown to be inaccurate, inadequate, and antiquated in this third chapter, utilising sustainability as a term. The value generated inside the global economy is significantly lower than computed GDP when practically all costs are taken into consideration. As a result, if the traditional concept of GDP is not to be fully abandoned, it must be thoroughly updated, taking into account all expenditures spent, employing big data information.
Author(s) Details
Catalin Silviu Nutu
Constanta Maritime University, Romania.
View Book:- https://stm.bookpi.org/ECRIEGDCS/article/view/5404
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