Satconomy

A market entity may be viewed as a species that performs a ‘niche’ role in an ecological system. So, for example, a farmer cooperative perfoms the role of food producer, while a clinic or hospital seeks to address the market’s health-related needs. Since each market entity has a particular niche or specialization, it is only reasonable to expect that none could become completely self-sufficient since, in this scenario, everyone is only able to concentrate on addressing a limited set of human, social or market need. In short, the general goal of a market entity is not self-sufficiency within itself and exclusive of others. Rather, an entity seeks to cultivate a self-sufficient market by contributing to the diversity of product choices in it and by influencing how resources are used for the production of ‘desirable’ products.

Of course, no one can summarily dictate what products are to be offered by market entities, or which products are desirable for whom. It is simply hoped that goods and services would naturally be produced by entities who see a need for them, and market participants would self-determine those products that they need and the choices that they prefer. It would seem that this expectation could lead to resource exploitation and unmet needs, and there might even be support for that viewpoint with the current state of market economies where, for example, one person could live in a 40 bedroom estate while hundreds are homeless on the streets.

However, the satconomy market framework is designed to offer active feedback to a market entity through the acceptance or rejection of its currency brand by other entities. This is different than current market situations where sellers blindly accept ‘generic’ currency regardless of how that money was earned. In satconomy, currency is traceable to a specific market entity and its activities. If market sellers are not willing to accept an entity’s currency brand due to its reputation, members of that entity are likely to run out of product choices, and without employees or members, that entity is destined to failure or extinction. Therefore, each and every entity in a satconomy framework is expected to actively regulate itself against public opinion in order to promote and maintain its market reputation. Please note that there is a similarity between this expected form of self-regulation and the current stock-price-oriented management of a publicly owned company.

In order for this feedback regulation in satconomy to work as expected, market participants must have reliable access to timely and accurate information that they could use to evaluate whether or not to accept someone’s currency brand. Even now, companies regularly update investors with financial results and ‘stewardship’ performance. Market entity information is also currently available as a constant ticker of stock symbols and price fluctuations. All that needs to happen in order to implement satconomy on a wider scale is to adapt existing information technology to serve the need for performing currency brand evaluation. I am not implying that it will be easy, only emphasizing that all of the ingredients are already available – we just need cooks in the kitchen. Or, perhaps more appropriate in the current analogy, new entity species simply need to evolve and take on a niche in this market ecology – its easier to establish a new currency brand before more competition arrives.