In Search of an Economic Quantum In the World Economy.
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Considering the World Gross Domestic Product WGDP as a representation of all the production by humankind, is it possible to define a smallest common quantitative measure, an Â economic quantumÂ at an individual level, whose aggregate will lead to the word GDP? Is this economic quantum the GDP by an individual, produced using his sole physical forces of some 180 kWh/year? Or is this Â economic quantumÂ the GDP of an ancient Roman or Greek democratic citizen with his 100 slaves, with 15 000 kWh/year? In any case, the average individual today in Europe uses 47 000 kWh per year, which is much higher than expected if each citizen had only 100 Â virtual slavesÂ at his disposal. Written by a non-specialist, a Â scientific economyÂ student, this essay is a kind of visit through the arcanes of modern finance. It reviews elements of economic theories, applies a historical perspective, reviews the link between population, economy and ecology, and the question of the ecological balance, discovers systemic Â economic warsÂ , see why the current institutional and legal setting is inadequate, then derive a few practical aphorisms and a speculative model of a world organisation.