Economics

  1. MSS has been collaborating with the World Academy of Art & Science since 2009 to establish the foundations for human-centered economic theory focused on the goals of human welfare and well-being. The project website is www.neweconomictheory.org.
  2. In 2012-13, MSS continued its research on new economic theory with a focus on examining alternative concepts of economic value more appropriate to the modern knowledge-based service economy, accounting for the risks and uncertainty of service delivery, utilization value over time, and the contribution of the un-monetarized sector to overall human welfare.Research examined the origins of money and the historical evolution of monetary and financial systems and the role of financial markets in economic development. Research was undertaken in collaboration with The World Academy of Art & Science and the Club of Rome. MSS presented papers at international conferences at Geneva in April 2012, Rotterdam in May 2012, Bucharest, Romania in September and Trieste, Italy in March 2013.Several papers co-authored by MSS were published in international journals. A paper summarizing our findings and co-authored with Ian Johnson titled “Crises and Opportunities: A Manifesto for Change” was published in Cadmus in October 2012. MSS staff also prepared the following working paper: Role of the Global Insurance Industry in Social Development.
  3. In 2012-13 MSS continued its research on the global employment challenge in 2012-13 focusing on formulation of suitable strategies to reduce the rising levels of unemployment.Emphasis was placed on understanding the impact of international factors on national employment markets. In April 2012, MSS staff again visited the ILO in Geneva and presenteda proposal to develop a global employment model. MSS presented papers on this subject at aconference in Trieste, Italy, in March and at the International conference “Opportunities andChallenges for the 21st Century: Search for New Paradigm” organised by the United Nations and the World Academy of Art and Science in Geneva titled “Integrated Strategies for global full employment” in June, 2013.
  4. In 2013-14,MSS continued its research on new economic theory in collaboration with the World Academy of Art & Science. The research focused on the origins of money and thehistorical evolution of monetary and financial systems; role of money as a social institutionand networking mechanism for the development of society; the role of financial markets ineconomic development; and ways to more accurately reflect the true costs of labor,ecological resources and environmental pollution. In September 2013, MSS presented itsfindings at an international conference of the Club of Rome in Ottawa. 
  5. MSS presented a paper on the need for new theory in economics at the XI International Economics Colloquium on Global Crisis and Changes of Paradigms, at the University of Brasília, Brazil, May 6-8, 2014. MSS co-organized a one-day meeting at the Institute of Economy, Russian Academy of Sciences in Moscow on May 24th on the need for new economic theory. 
  6. MSS conducted research on strategies to address the very high levels of unemployment inBosnia & Herzegovina and presented its findings at an international conference in Sarajevo on July 1, 2014. In September 2014, MSS participated in discussions at Inter-University Centre (IUC) Dubrovnik and in October 2014 at the Club of Rome annual meeting inMexico City on a proposal to develop a post-graduate course on human-centered development theory. A small working group was constituted and preparations were undertaken for presentation at an international conference to be conducted at the Universityof Florida, Gainesville in May 2015.
  7. MSS staff participated and presented a paper at the XI International Colloquium ofEconomists at Brazilia meeting here May 6-8, 2014. A paper outlining the Society’s approach was prepared for presentation at Gainesville entitled “Contours of New Economic Theory” and published in the May 2015 issue of Cadmus. A paper authored by Garry Jacobs titled “Need for a new paradigm in economics” was published in Review of Keynesian Economics in February 2015.
  8. In 2015-16, MSS presented its research at an international conference on "Framework for aNew Paradigm of Human Development", on the theme of institutional change and governance issues needed to promote economic, political, social and ecological security. The conference which was held on April 30, 2015, in BAKU, Azerbaijan created an action plan for implementing ideas proposed during the Almaty conference organised by the Academy, the WUC and the Al-Farabi Kazakh National University. 
  9. In May 2015 MSS was also invited to participate in a conference organized by the YK Center, Israel in Orange County, California USA in collaboration with WAAS, WUC, Humanity's Global Era Research Center and GameChangers 500. The Lab provided an opportunity to dissect the current challenges our world is facing on a daily basis. MSS staff presented at themeeting. MSS also collaborated with WAAS and WUC to conduct a webinar on “The Greek Crisis: Need for a Human-centered Theoretical Framework” on September 15, 2015. MSS staff participated and presented in the webinar. MSS also provided admin support for the webinar. A paper titled “The Greek Financial Crisis – Theoretical Implications” by Garry Jacobs and Mark Swilling was published in Cadmus Journal in the October 2015 issue. The XII International Colloquium is to take place in Gainesville, Florida, USA at the Levin College of Law at the University of Florida, from May 20-22, 2015. MSS research paper “Money, Markets and Social Power” was published in the May 2016 issue of Cadmus Journal.
  10. In 2015-16, MSS staff met with the Director of Employment Research at International Labor Organization Geneva and discussed areas for collaboration on research to address global employment challenges. MSS also conducted research for an upcoming conference on the impact of technological advances on employment conducted at Podgorica, Montenegro in May 2016.
  11. The XIII International Colloquium held in Lisbon on May 11-13, 2016, explored the eco-social and political transitions and their consequences. The New Economic Theory Working Group established the groundwork for development of human-centered economic theory. MSS participated in an international conference organized by WAAS and Kyung Hee University, Seoul titled “New Paradigm and Planetary Engagement” in September 2016. Garry Jacobs co-chaired a session on the need for human-centered economic theory and also presented at the conference. MSS staff presented in October 2016 at the Kiev International Economic Forum “Ukraine: On the threshold of the Fourth Industrial Revolution”, a forum designed to create anew strategy for technological, social and economic modernization of Ukraine. 
  12. In 2016-17, MSS began a study of the skills gap confronting business in major economies and the educational gap between what educational institutions are preparing students for and what employers say they actually are looking for in new employees. WAAS and WUC convened a gathering of the New Economic Theory Working Group of which MSS is a member for a lecture series on new perspectives in Economics to promote human welfare and well-being held at IUC Dubrovnik, Croatia, from January 31-February 3,2017. Live proceedings were webcast internationally. 
  13. In continuation of its research project on New Economic Theory, on May 10-12, 2017 MSScollaborated with the World Academy of Art & Science, the World University Consortium, the Sustainability Institute of Stellenbosch University, South Africa, and the University of Brasilia to conduct the 14th International Colloquium in Cape Town, South Africa. The conference focused on thelinkage between our work on economic theory, social power and democracy. It included a presentation by Mcebisi Jonas, former Deputy Finance Minister of South Africa and a leader of the mass movement of civil society, businesses, on the role of money and economy in politics and theattempted take-over of state institutions by private business interests. It included a presentation of a report of MSS on The Political Economy of Neoliberalism and Illiberal Democracy. The conference ended with a meeting of the New Economic Theory Working Group, co-chaired by MSS Vice President Garry Jacobs, which accepted the report prepared by MSS and partner institutions on Quest for a New Paradigm in Economics - A Synthesis of Views of the New Economics Working Group.The group accepted the invitation to conduct the next conference at the University of Paris Nord in May 2018.
  14. The 1st International Scientific Conference Agenda 2030: Economics in a changing world: MSS presented at paper on “Need for Human-Centered Economic Theory” at this international conferenceheld in Umag, Croatia on August 27-28, 2017. The conference was organized by the EXEL ScientificEconomics Lab and WAAS. The Global Blockchain Summit: Garry Jacobs participated and presented at a high profile conference in Denver on April 19-20, 2018 in which he focused on the nature of money as a networking tooldesigned to promote economic relationships and wealth creation.M. Publications: Papers based on MSS research were published in Cadmus, the international journal of the World Academy of Art & Science. “Quest for a New Paradigm in Economics”, (Cadmus Vol 3.2,May 2017) and “The Political Economy of Neoliberalism and Illiberal Democracy” (Cadmus Vol 3.3 Oct 2017).
  15. Garry Jacobs, representing MSS and the World Academy of Art and Science, was invited to share the findings of the research on Human-Centered Economic Theory and the potential for rapid globalsocial transformation at the Global Blockchain Summit in Denver on April 19-20, 2018. MSS staff participated and presented at the XV International Colloquium titled “The role and impact ofInternational Institutions on Economic Theory and Policy” held on May 2-4, 2018 at Paris Nord University, Paris. Publications: “Cryptocurrencies & the Challenge of Global Governance,” presented at the XV International Colloquium, by Garry Jacobs was published in Volume 3 Issue 4 of Cadmus Journal in May 2018. 
  16. MSS Staff contributed a chapter titled “Transdisciplinary social theory of the firm” for a book on the Theory of the firm in January 2020. It examines the theory of the firm from the perspective of society and looks for a theory that is consistent with the fundamental principles of social reality. It views thefirm from the perspective of an integrated transdisciplinary science of society. It examines the relationship between the individual firm, business community and the wider society, and considers The Future Capital initiative is focused on restoring the right relationship between consciousness andcapital, as creative force and constructive resource. The project was initiated in collaboration withthe World Academy of Art and Science, United Nations Office for Partnerships and UNCTAD. A principal objective of FCI is to support and accelerate existing transformation initiatives while also identifying and promoting new and emergent initiatives aimed at improving the quality and speed of implementation of the UN SDGs. MSS staff are represented on the FCI organising committee. The inaugural gathering of 50 founding members of the Future Capital Initiative was held at theUnited Nations in New York, September 12–13, 2019, in collaboration with WAAS, the UN Office for Partnerships, and the United Nations Conference on Trade and Development (UNCTAD). MSS staff was part of the invite-only event. A Roundtable organised by WAAS on “Future Capital: Financing Global Development” was held at The World Bank, Washington D.C. on September 16-17, 2019, in which MSS staff participated. MSS staff participated in a roundtable discussion at the Inter-University Centre, Dubrovnik, Croatiaon November 18-20, 2019 to explore the psychological and social foundations of money, the financial linkage between economic and political equality, and the utilization of money as an instrument foreither concentration of power or the wellbeing of all the concept of value from the perspective of its social impact and overall benefit to human wellbeing. 
  17. MSS staff have started collaboration a project titled “The TAO of Finance” which seeks to study proposals related to development of a cryptocurrency using Distributed Ledger Technology to financeinvestments needed to achieve the UN SDGs.