TITLE:
Harvesting, Tokenizing, and Sharing the Influence of Planetary Abundance to Mitigate the Global Debt Catastrophe
AUTHORS:
Fazal Raheman
KEYWORDS:
Sharing Economy, Global Debt, Abundance, Existential Threat, Blockchain, Financialization
JOURNAL NAME:
Theoretical Economics Letters,
Vol.14 No.1,
February
27,
2024
ABSTRACT: The global debt crisis of mega proportions is heading towards the
collapse of our economic systems. Posing as one of the existential threats to
humanity, the perpetually increasing debt/GDP ratio projected to rise to 1300%
by 2030 has no cure unless a radical new approach replaces or complements our current
scarcity-focused, centralization-prone economic approaches. One such approach
evolved from the 2008 economic crisis that resulted in the birth of a
technology that made decentralization of any ecosystem free of human biases and
prejudices. Hailed as the greatest advancement since the invention of the
internet, blockchain is a liberating force of the digital age and a potential
enabler of the 21st-century sharing economy (Sharonomics) that
transforms scarcity-centered legacy economic systems to one of abundance.
Tokenizing that planetary abundance to offset the massive global debt may be a
utopian dream at the present time but by applying the law of accelerating
returns to the technology advancements of this century, a credible path can be
hypothesized and pursued. The principle aim of this research is to provide
theoretical support to such a hypothesis suggesting future research avenues
towards a possible solution. The research methodology follows the narrative and
integrative literature review approach based on peer-reviewed reports.