Between Scarcity & Abundance

Bridging the Gap With Strategy and Technology

The question of abundance feels increasingly relevant in 2024. On one hand, headlines scream of resource scarcity, supply chain disruptions, monumental spending, war debt, currency manipulation, inequality, job market unemployment and government collapse. From food and microchip shortages to climate change anxieties, it's tempting to declare that the so-called "age of abundance" is over. Yet, shelves in many countries overflow with goods, information is boundless, and innovation in technology sectors continues to break boundaries.

“What does each person on the planet need?” Our current economic engines fuel demand with a mix of knowledge and assumption. Waste, disease, crime and poverty are silent metrics for how well we’ve hit the mark. Defining “scarcity” or "abundance" must move beyond simplistic notions of resource management, and shift toward addressing the mechanics required to nurture individuals and unlock collective potential to produce what is needed. Economist Mariana Mazzucato, in "The Value of Everything," argues that abundance isn't a fixed state but rather a dynamic process fueled by innovation and collaboration.

The most prosperous countries to date have inherited the remorseful traits of subjugation and the fruit of genetic and intellectual amalgamation. How might we leverage the exponential burst of knowledge and growth over the last 150 years alone to embody a reformed, shared, prosperous economic reality? To start, consider the following as potential features of an economic ecosystem that could swing the pendulum toward abundance.

Legal & Political Intelligence

Imagine a future where all laws, political actions and government protocols could be easily accessed and interpreted by our youngest citizens. The average person, in a democratic republic, would know exactly what they’re permitted to do (or not do), accept (or not accept) in order to thoughtfully pursue happiness in the marketplace and broader society. Each person would have the ability to timely respond to all pending changes that have personal or business impact, advocate for responsible management of funds, or challenge political rationale en masse.

Were you surprised to see “law and politics” listed first? The term “economic constitution” refers to the combination of two systems: modern democratic constitutionalism and the market economy. If abundance is to be achieved, the complexity of business law and policy reform must be minimized. Laws, policies, political actions, court case outcomes, government procedures and protocols should be publicly documented, accessible and literally intelligible, giving everyone a fair chance at hitting baseline compliance and realizing constitutional rights.All rights for persons or entities could be contextualized, so that community engagement, financial allocation, or protest could be focused on specific areas of needed reform. Innovators with less capital could then better protect their IP, secret loopholes could be exposed, case outcomes could be referenced and challenged, and the history of all political actions that impact persons and entities could be traced to inform voting and eliminate confusion.

Example components of an intelligent framework would include profile-based legal research and translation, political action tracking, public/private conflict of interest indicators, reform requests, virtual advocacy “public square” gatherings, lobby action tracking, court case summaries, media fact checking, polls, petition management and intelligent tools for legal filing.

“Meta” Product & Market Data Sharing

Imagine a future where every person, organic object or product has its own economic data trail. Business and personal product data, service data, transactions and ratings could all be archived and accessed from a single, secure datasource. Top level information about every transaction could be freely shared with citizens as open-source research data, so you and your friends could explore trends or discover opportunities to partner and serve the needs of your world.

Why all this talk of data? In our present reality, facts and truth have become subjective. Data could be used as a diplomatic driver for discovery, simulation, and growth. For businesses and consumers, the future warrants a transparent, “meta” product and market data governance strategy, leveraging a secure framework (akin to Web3) with merchant transaction systems that capture and share the granular data story of every product or service, asset or system, transaction or incident, with indisputable traceability of data and value over time. It could be considered a form of “digital sovereignty” since it encompasses various aspects related to technology and data within a specific jurisdiction. Much broader than a digital product passport (DPP), this type of framework would touch every market, supporting digital twin creation, data tag lifecycle management, data carrier support, partially public data sharing as an integral part of a financial system, data tag storage and tag transfer capabilities for end-users. The outcome - streamlined reporting, decreased accounting and tax filing burdens, reselling and circular economy support, informed policy reform, improved capital allocation, value investing and increased economic diversity.

Examples of relevant components and metadata types captured across product and service lifecycle phases could include unique identifiers, material origins, composition, production methods, processing or maintenance events, documentation, instructions, and a 2D/3D proof. Transaction systems would support price/value setting (fixed, barter), currency or unit of value selection, ledger contract and receipt creation, payment processing, and ledger data transfer to purchasers.

Reformed Business Start-up Laws & Services

Imagine owning the rights to a legal business entity that was created the day you were born, activated whenever you were ready to take on a contract job, run a 10 person business (legal filing and business bank account setup included), or join a collective enterprise. Entrepreneurial startup - normalized, with less gatekeeping, administrative complexity and compliance cost.

The ease in which a citizen can startup a validated, value-added business and secure capital when warranted should be a measure of broader economic health. Current processes and systems used to support business formation, tax filing, licensing, patent filing, business banking + legal mailing address qualifications, business insurance, funding, bid access, permits and accounting requirements lack transparency and process automation. As a result, variable fee-based 3rd party services are required to decode and comply, detracting capital from businesses, and passed on to consumers. If industrialists, farmers, inventors and creatives drive successful economies, then it would behoove us to invest in systems that expand the capacity of every human to swim in one of those lanes.

Example components of a system that simplifies entry and compliance would include a baseline business classification per residency status, packaged personal and business banking lines, bank-led insurance authorization and handling, standardized funnels for filings (permits, bids, capital requests), access to supply chain networks, open innovation submission portals, legal pathways for mediation and conciliation services, ERP startup automation, standard state contracts, packaging and delivery pathways integrated with transaction systems that support data sharing and tax reporting.

Intelligent Distribution of “Basic Essentials”

Imagine being able to produce or purchase basic essentials on-demand, tailored for a specific person, lifestyle or subculture? The “basic essentials” term has been used for many years as a designation for “common” retail products, “staple” foods or “lower quality” options across industries. Creating an exhaustive standard list of essential living necessities that is void of cultural bias would be difficult, but we can leverage consumer data to adopt new perspectives on supply and demand that reflect actual needs and desired buying patterns for a given context.

There's an economic opportunity to improve the breadth of reach for individual and bundled living essentials, so that consumer communities can be supplied with the profiles, formulations, compositions or quantities they want from a short list of local or regional retailers. For a vulnerable population or during a local emergency, distribution of these same essentials could be harmonized across suppliers to improve accounting and minimize waste.

Examples of basic essential offerings: wholesale essential bundles for families and retailers, made-to-order wardrobe essentials, expanded in-store food processing services, government issued educational devices (for children), buildable first-aid and emergency kits, home starter packages, lifestyle leasing terms.

It’s Time to Shift

The example features above are certainly not exhaustive and could include additions like personalized data networks, unified banking and asset management, regulated pathways for rental home and land ownership. The future warrants the development of an economic, intelligent ecosystem that intrinsically nurtures innovation, with collective knowledge, submission to transparent data frameworks, personal stewardship, and responsible distribution - thus expanding the capacity of every person, both business and consumer, to participate in the growth of the economy.

The urgency of the present is fueled by the lessons of the past. Land ownership restrictions, limited technology, disconnected cities, distribution gate keeping, property insecurity, and the fluidity of government policies kept many generations from experiencing abundance. Today, we still struggle with some of the same issues, wandering between poles of fragility and strength with every economic turn. We’re reaching a point where we must choose to address the gaps of the last century, or suffer the consequences. Hopefully future generations will appreciate our commitment to pursue abundant life.

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In case you were wondering - We’re working on a few new future-oriented solutions to help make the shift. Want to join us?