Dr. Michael K. Green from the Philosophy Department presented a paper titled “Humanomics: A Humanities-Based, Non-Equilibrium Model of Economic Processes” at the Sixteenth International Conference on New Directions in the humanities held from July 5-7, 2018 in Philadelphia.
The humanomics model of the economy uses the rich resources of the humanities to develop a predictive model of long-term economic development. Gulliver’s Travelsshows that economics should investigate complex systems, not individuals. A common description of what these systems do can be found in Dorval, or the Speculator, The Adventures of Harry Franco Volume II, Martin Chuzzlewit, The Gilded Age A Tale for Today, and The Great Gatsby. The Bacchae models this behavior. Philoctetes, Frankenstein, Rhinoceros, and All Quiet on the Western Front, similarly, make human interdependence central. Candide is used to argue that the flow of economic resources is initiated and sustained by an optimism-pessimism polarity. César Birotteau, On Walden Pond, and The Cherry Orchard are used to argue that economic identity is created by the unity and disunity created by changing technological/financial configurations. Finally, Oedipus Rex and Birds are used to argue that a complete economic cycle goes through the following stages: confidence, alarm, relief, panic, false hope, despair, caution, false panic, boldness, false alarm, and then confidence. It is, then, suggested, that the U.S. economy is currently in a false hope rally.