Sharonomics: A Radical Economic Theory for the Next Industrial Revolution and Beyond

Abstract

Economics has always been the epicenter of our gender-skewed sociocultural legacy that eluded inclusiveness, equality, and sustainability for centuries. Our traditional scarcity based economic theories need serious rethinking as the exponential rise in world GDP, and billions of daily social media shares tell us that 21st century economics has transformed from one of scarcity to one of abundance, from capitalized silos to peer-shared collectives. The principal objective of this research was to identify major lacunae in our existing centralized economic systems and deploy technology to render them more democratic, equitable, inclusive and sustainable. For a proof-of-concept our methodology deployed blockchain technology to decentralize the ecosystem, harvest the economic abundance, share, and redistribute the abundance from those who “have” to those who “need” making the dynamics of today’s sharing economy (Sharonomics), more equitable, inclusive and sustainable. This paper is the first demonstration of a theoretical feasibility of such Sharonomics ecosystem that monetizes the influence of abundance to achieve sustainability via hedonistic motivations for democratic wealth redistribution, seamlessly, autonomously, and altruism-agnostically. This paper provides the implications of this research and suggests future research avenues highlighting the policy recommendations for implementing Sharonomics around the world.