Economic growth: inclusive, green, no-cost.

Regional competitiveness

Looking for somewhere to live, do business, vacation, film, invest, or study? A region with POEMs (Public Official E-Markets) would score highly.

 

 

1) Productivity increased

Any area with POEMs successfully implemented should have rising living standards to attract residents. The system could have a “National Productivity Metrics Dashboard” of course. But at this stage, we can’t model its likely outputs with any credibility.

However, key productivity-enhancing trends would be running through the area’s economy:

  • Efficient allocation: Skills gaps would be identifiable in advance through POEMs’ data. (“What is the utilization rate of accredited cellphone repairers next week?”) Individuals would have click-now access to training. That might be funded by investors who get a cut of enhanced earnings as system tools foster precise allocation of capital. Likewise, the invisible hand in well-informed markets should push premises, equipment, and other resources to their most productive application.
  • Maximized hours: Hyper-efficient markets should pump increased hours of work to the existing population. Regions now reliant on temporary incomers because their labor market is too cumbersome to identify residents who might do particular work at times required could find citizens offering more hours as it is so easy and informed to do so.
  • Iterative inventions: New business processes can be trialled quickly, and abandoned with little cost if unsuccessful. Firms can read the data, engage expertise, launch a new service or product then enter a market with a few clicks. So, it’s worth backing hunches in search of more efficient offerings.
  • Predictable stability: POEMs could be running countless microscopic auto-stabilizers to tamp down inflation or boom/bust cycles. That nurtures a steady-state economy where pioneering approaches and risk taking is increasingly worthwhile.
  • Policy possibilities: A comprehensive industrial strategy? Initiatives to bring returning-mothers into the workforce? A plan to spread work around as automation kills jobs? All easy to instigate, target, fine-tune, and report in the precise economy that POEMs runs.

 

2) Stability and ability for business

Non-POEMs regions have comparitively sluggish micro-economies, often dependent on global platforms for economic infrastructure and Wall Street approval for growth. They must prepare to be roiled by automation, global shifts, and climate breakdown. POEMs doesn’t make its territory immune, just less colonized, increasingly stable, and more adaptable. That’s good for businesses.

POEMs’ operators are incentivized to drive up earnings of their workers, they get a fixed small cut. So markets allowing anyone to offer training for workers who have proved their reliability will likely flourish. That shapes an educated workforce for businesses. Velocity of money would likely increase, creating ever more activity. Public services could be  responsive, with early-intervention cost-effective.  So, taxes can be low.

Corruption and waste would be exposed as services move into POEMs with its comprehensive auditing tools. As POEMs attracted activity out of the shadow economy, crime prevention can become better targeted and there’s less illegitimate competition. This all adds up to an attractive environment for a range of activity.

And overheads on purchasing any resources needed would be negligible. Marketing costs for current online marketplaces are astronomical. The war of attrition between platforms battling to attract the same buyers and sellers demands high charges to recoup outlay. That denudes users’ earnings and limits each platform’s usefulness. This is the rickety economic infrastructure of non-POEMs regions.

 

3) Taking back control for inward investment

Territories without POEMs typically wait for Amazon to install lockers for drop-offs, Uber to modernize transport, and delivery apps to expand markets for local businesses. Any jurisdiction with POEMs would allow its locals to deliver whatever services they wish more efficiently than the Silicon Valley monoliths. This diversity of offerings would be instantly visible, insured, and ready for assembly into tailored packages for visitors with a few clicks.

So – for example – a visiting kayaker seeking kit rental, local guiding, luggage transport, and accommodation along a route can assemble everything solidly in minutes with POEMs. Perhaps her spouse is more engaged by local history tours, vintage car hire, or skydiving along the route? Do their children need slots in day camps? It can all just be added to a package for POEMs to assemble. Marshalling such diversified resources in a non-POEMs territory could take days.

Similarly, managers charged with siting an industrial optics factory anywhere in the US might invite bids from competing regions. Non-POEMs areas must vie to undercut each other with tax hand-backs. The POEMs region’s team might just identify a city then send a link to today’s data on time-available-for-rent in existing facilities. A second link might display utilization (ratio of hours offered to hours sold) of lens technicians, milling machinery rental, and space in specialist distribution chains.

Team POEMs would also likely point out how investors are poised to start up-skilling provenly reliable workers as soon as the company announced an intent to site in their region.

 

4) Everyday entrepreneurs

POEMs breeds a “Just Try It” economy. Anyone can interrogate system data, spot openings, and trial a service with no market entry costs. There’s a safety net of multiple ways of earning if any venture doesn’t work out. Education is on-going, adaptive, verifiable. Public markets should increase vital digital skills because the platform offers so much opportunity to users. Interventions to support the struggling are granular, perhaps triggered automatically.

This vibrancy should attract foreign customers whether its cosmetic surgery tourism, global sports fixtures, or study programs. As part of their support, government could make it easy for incomers to interact with POEMs; facilitating foreign payments, legally protecting bonds paid into the system, and allowing automation of paperwork.

That then allows any individual or business user to easily market their services abroad. Although POEMs’ bread-and-butter will be highly localized transactions, there will be buyers willing to travel across borders because it’s so easy to find, cost, verify, and book just the right facility, service, or expertise.

 

5) Regional branding

Cheese, ham, wine; POEMs might become an equally distinctive selling point when its first regions present to the world. Within the legal framework government should commit to promoting the system abroad.

That needn’t be a dry infrastructure-based campaign. POEMs would have made it uniquely easy to organize arts festivals, floral displays, trade shows, or beach clean-ups. Promoting a wide range of these local initiatives, perhaps with a consistent POEMs logo, could drive a message of local people and businesses keeping 98% of earnings – not 70% or less as elsewhere, localized trading, quality of opportunity, and energized efficiency.

Like regional pride in POEMs, this potential can’t be quantified. But the initiative should command international profile, curiosity, and respect.

 

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