Economic growth: inclusive, green, no-cost.

RECOVERY: 25 impacts

Technology schemes initiated by policymakers can succeed dramatically. This section lists 25 impacts on recovery if POEMs was one of them.

 

 

Too big to flail

Convinced a government-led, tech-based, scheme will end in disaster? You ignore projects like the UK’s National Lottery.

A Conservative legislature passed the 1993 National Lottery Act. Eight consortia bid for an initial 7-year concession. Camelot, who won, then implemented in record time. (A mandated fine of £1m for each day they were overdue probably helped.) A billion £1 tickets were purchased within 18 months. For its first double rollover, 96% of UK adults played.

Britain’s privately funded, state sanctioned, lottery dramatically increased gambling in low-income communities. POEMs (Public Official E-Markets) aims for a comparable explosion of purposeful economic activity, unleashing 5 fundamental forces through the economy:

  1. Resources surfaced: So many skills, services, and goods are submerged out of sight by today’s time-consuming, high-overhead, low impact, markets.
  2. Informed users: POEMs make granular, actionable, data on any sector, geography, category of users, or types of transactions a public right.
  3. Increased activity: Consumer spending makes up 68% of GDP in the US. POEMs pushes opportunity and income directly to the least well off. That boosts businesses.
  4. New investment: POEMs’ data feeds, tools enabling interventions, and protections for funds could allow human capital investment to rival the returns of financial speculation.
  5. Precise levers: An atomized economy will be more responsive to policy changes, inducements, and other legitimate influences.

 

In this section we suggest 5 key impacts for each of 5 aspects of the economy:

Crisis response: Early interventions, mobilizing of resources, local controls.

Lifting the left-behinds: Impartial ladders, safety nets, personalized interventions.

Greening the micro-economy: Localized, circular, responsive; POEMs drives green growth.

Precision government: Uniquely adaptable and accountable, hyper-local controls.

Regional competitiveness: Stability, alignment; a lure for inward investors.