Gauge Theory
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Gauge Theory: A version of the differential calculus in which the Rise in âRise over Runâ is measured from a reference level that must be determined endogenously within the theory.
And yet, supposedly, I am super confusing?
Ok. Compare anyone elseâs definition. Iâll wait.
CPI is broken. Why?
Think of CPI as a gauge like a thermometer. You canât have politically motivated folks making your thermometers or they can change the design to cover up climate change. Likewise you canât have economists changing the gauge to disguise the effect of printing.
A crypto native CPI governed on the blockchain to create a decentralized stablecoin people can rely on to keep their standard of living the same across time. A true alternative to fiat rather than a speculative investment asset like most other coins.
The economists canât yet compute a dynamic Cost-Of-Living-Adjustment or COLA or âChained Changing Preference Ordinal Welfare Konus Indexâ to be perfectly pedantic. Not because it doesnât exist. But because they donât have the math and donât want to lose their finger on the scale.
But more importantly, we have a culture that economics literally trumpets (and I swear I am not making this up) âEconomic Imperialismâ. It is âwe know math and you donâtâ-culture.
No. They donât know their own math. I will debate any high ranking economist on this point.
Itâs time to reveal that economics, far from embracing math or having physics envy, is deliberately avoiding solutions to old problems so that it can make up new gauges for CPI/GDP at will while telling the rest of the soft sciences âWe know your field better because we do math.â
No. Economics is an avoiding gauge theory, connections, Lie Groups, etc so it can retain its political relevance as an expert consultancy. Iâm with the crypto folks on this. Our economy must be protected from Seigniorage (printing money) and CPI tampering (e.g. Boskin Commission).
CPI should notâŠMUST NOTâŠbe adjustable to disguise inflation. It needs to be protected from the FED diluting the power of money and the BLS being free to disguise the effects by changing the method of construction.
End the forced wealth transfers of central bankers covering up their own failures with âReliefâ, âEasingâ, âStimulousâ, âRescuesâ, âToxic Asset Purchasesâ, and other bailouts of our incompetent financial overlords.
We must protect CPI from economists disguising wealth dilution.
P.S. before you remind me how arrogant this sounds, keep in mind, that I am willing to debate this publicly with any leading economist eager to defend the central bankers and triumphalist theorists openly bragging about their math. Read this, and be sick:
https://nber.org/system/files/working_papers/w7300/w7300.pdf
Moral: Gauge Theory fixes this intellectual corruption problem of economic imperialism, and #btc, blockchains and Crytpo can help.