One of the core ideas is to quantify these externalities for ease of analysis. Many of these things would be quantified as TEMS values.
For example, bottles in the ocean is an M value in the EOL cycle.
Health effects would be T utility of the body in QALYs.
Many of things are already quantified as TEMS values in the existing economic environment, its just that the relationship between physics and economics, or physics and human behavior, is not officially recognized in the pedagogy. That is what I’m trying to address.
The great thing about monetary prices is that there are market mechanisms that keep the numbers honest.
If you want to measure your TEMS value you don’t have information about a lot of the involved factors that matter.
By forcing people to collect those values, you force people to spend a lot of work to account for those values and try to get the accounting to look the way they want it to.
To raise $4.1 trillion in total taxes, the bureaucratic work was around $313 Billion. If you force people to report those TEMS all of those terms are likely similarly complex. The questions of how the numbers will be determined are also very complex so you will need a lot of lobbyists who fight over the values. You need lawyers to litigate cases where people cheated their numbers.
If you hire a plumber then the plumber has to know the TEMS values for all his equipment and know the rules for how much of that will apply to the job for which you hire him.
One of the core ideas is to quantify these externalities for ease of analysis. Many of these things would be quantified as TEMS values.
For example, bottles in the ocean is an M value in the EOL cycle.
Health effects would be T utility of the body in QALYs.
Many of things are already quantified as TEMS values in the existing economic environment, its just that the relationship between physics and economics, or physics and human behavior, is not officially recognized in the pedagogy. That is what I’m trying to address.
The great thing about monetary prices is that there are market mechanisms that keep the numbers honest.
If you want to measure your TEMS value you don’t have information about a lot of the involved factors that matter.
By forcing people to collect those values, you force people to spend a lot of work to account for those values and try to get the accounting to look the way they want it to.
To raise $4.1 trillion in total taxes, the bureaucratic work was around $313 Billion. If you force people to report those TEMS all of those terms are likely similarly complex. The questions of how the numbers will be determined are also very complex so you will need a lot of lobbyists who fight over the values. You need lawyers to litigate cases where people cheated their numbers.
If you hire a plumber then the plumber has to know the TEMS values for all his equipment and know the rules for how much of that will apply to the job for which you hire him.