Human Capital Potential as Infinite Growth

Could the economy - given the chance - expand indefinitely? Of course, not everyone imagines continued expansion as a desirable outcome. For that matter, given the recent worldwide economic slowdown, might the possibility of infinite expansion already be lost? Hopefully the recent slowdown will prove to be only temporary.

Nevertheless, we could also envision infinite growth capacity which assumes a somewhat different form. By building directly on the possibilities of the human mind, it's not necessary to "use up" other aspects of earth's resources in order to perpetuate the process. The symmetric alignment of time value would make it possible for of the human mind to be tapped, without having to wait for other aspects of earth's other resource capacity to be utilized first.

Recent progress has taken place in ways which are not always encouraging for the long term potential of human capital. Skills arbitrage in particular, is only a fraction of the human capital potential which exists. Skills arbitrage is asymmetrically compensated, hence dependent on other originating sources of wealth before assuming economic validity. This process often requires extensive use of earth's resources, before the larger potential of human capital can be brought into the equation. Knowledge use as a secondary or dependent economic construct, also means that certain aspects of skills demand takes precedence over personal priorities.

Symmetric compensation for time value, would create a more inclusive form of human capital potential, in which time units form a long term continuum with infinite growth possibilities for knowledge use. However, this growth would be measured somewhat differently, since it derives per capita knowledge and skill use as a more important measure of economic gain than actual changes in income. The advantage to such a setting, is that it would give all human capital potential a chance to take part in formal economic processes.

Consider how this process would provide benefits for the long term growth of non tradable sector activity. Skills arbitrage creates a specific human capital harvest in non tradable sector settings, yet if one were to contrast the relevant human capital to a tradable sector apple harvest, it would become clear that only a small portion of human capital is being measured for total growth capacity and marketplace potential. On the other hand, time arbitrage could encourage the measure of all human capital possibilities, and like the tradable sector apple harvest, measure how all human capital might be made relevant to long term growth potential. By far the most important reason to encourage economic expansion indefinitely, is to pursue the potential of the human mind on the same terms.

Oddly, the efficiency of seeking the best skills in the marketplace, creates its own limits on full human participation. The creation of a economic continuum for time value, could make amends for those limits, by allowing the time value of all individuals to become an active part of indefinite economic expansion. Importantly, this could create a more sustainable form of economic expansion, since time arbitrage would not make the same demands on earth's resources that are often necessary for the asymmetric compensation of knowledge.