Next Steps in Theoretical Works-The Case of Transactional Clusters

There are stages to development of new theoretical models and it can take decades to create something feasible that with hope accurately explains and predicts our environment. Theory development is not rigidly linear but often moves in multiple exploratory directions. For example, in the development of Transactional Clusters Theory the next steps are to integrate, connect and explain the concepts as a single entity. The basic theoretical structure is constructed but helping others see how that works as an entire system is not easy. It took consider effort to uncover and connect core tenets of a larger system.

What I'm doing is trying to discuss what its like to create exploratory theories as they relate to the development of economic systems. I'm not using a traditional economists perspective but more holistic perspective that relies on a number of different lenses to understand an economic system. It is this process that I can share with others for greater understanding.

1. Delta County Data: I have some data on Delta County that was collected just prior to COVID. It isn't a lot of information and on top of that it was when our economy looked different. However, I want to see if there is anything important in there and share it with readers. It may be of help to someone and it likely will highlight a few things that might be changes or improved. If I would have more participants I likely would have had stronger surety of the value of the information. 

2. Integrate, Connect, and Explain:  While the basic structure has been constructed it isn't connected together well into an integrated whole that others would understand. Thus, I'm going to re-write, adjust, and clarify where needed. I will highlight some of the gaps that are there just to see what I might understand but would be hard to explain. To create a cohesive theory I will need to think of it as a total system and explain how each of the pieces connect together to create a more parsimonious concept.

3. The Precipice of Physical and Digital Economy: The precipice of where the physical and digital economy connect is within the individual transactions and how people use the tools available to them. Not sure if there is a way to explain it but I thought about a second study just on the specific transactions within a number of clustered businesses. That would be hard to pull off unless such businesses would be interested in understanding their interconnectedness. That would mean going into the choices being made (i.e. the fundamentals of economy and neuroscience) to determine choice, lines of development, and innovative outputs under certain transaction combinations.  To gain business support the theory might need to be more clearly written and have a PPT to make it valuable to business. 

Developing research takes time and is messy. While it may move through some very broad steps at the end of the day researchers must explore any avenues that appear to have benefit. In this case it worked out because some were relevant. Theory development is up and down, right and left, because it is exploration from one core concept to other connected ideas that may be relevant. 

Live Coverage AP Calls Biden Winner-Now is the Time to Capitalize on Bi-Partisanship

Its important to keep up on the political news to see what policies are likely to come next.  Having a Republican White house and a Republican Senate has opportunities to get a lot of things done while having a Democrat in the White House and a Republican Senate means extreme changes will be mitigated but wider ranging policies can be reached if both sides decide to work together. In a split power outcome bi-partisan work is going to be very important in sowing the nation closer together and ensuring we have a shared vision of our country and its people. At present we can see what happens in the near future. Our next president will be important for the nation no matter who wins or looses. It is a cultural shift as much as a presidential shift.

Job Market Improves November 6th 2020-Hospitality and Leisure

From the Bureau of Labor Statistics we have some good news on the job market. According to the press release....

"Total nonfarm payroll employment rose by 638,000 in October, and the unemployment rate declined to 6.9 percent, the U.S. Bureau of Labor Statistics reported today. These improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it. In October, notable job gains occurred in leisure and hospitality, professional and business services, retail trade, and construction. Employment in government declined (1)"

When we look a little deeper we find that hospitality and leisure made up much of the gains. Technology also had some advantages. That might mean we are opening back up the economy and we are adapting with more online/virtual needs. Experts are likely to know more. 

Some of this gain also seems to parallels spread in COVID. Its a social disease so this makes sense. Those sectors and their growth/decline is based in what policies we put forward. I don't think we will truly close our economy again but we may instill policies that seem to make sense in limiting long-term health risks. 

Helping Students Use Time Management in College and Life

 Students sometimes have a hard time managing their life and school loads. Those not being born in the lap of luxury must often work, take care of other responsibilities, manage their own lives and continue to go to school. I know this because I was a full time doctoral student and work 50+ hours a week while taking care of a family. You can get pulled in every direction! 

There are some helpful things to keep in mind if you want to better manage. I suspect many of these are likely to apply to the business world where people have multiple projects going on. Where one might be delegate to save time the other might be delegate to save time and groom others. 

Here are a few things I learned from "busting my hump" on education and life. 

1. Perception of time is misleading. There is only so much you can complete and do within a day. Try not to do too much and don't have expectations things get done quickly. If you think your paper or project is going to take 3 days....go ahead and start 6 days early. 

2. Not All things are Important: Not all things are important. Some are just exercises in wasted time while others have real importance and meaning. If a task doesn't seem particularly important you may want to give up. 

3. Delegate Work: If your in a family unit and you have a lot going on you can ask others to take over some of the errands, chores, etc... Try not to be a selfish person as just because you like to make yourself busy doesn't mean you should. 

4. Stay Focused in Now: The problem with lists and planning is that they also remind you of all the things you have to do. Focus on the task in front of you and keep your energy in the present. Your going to feel better about that list. 

5. Keep in Perspective: We only have one life to live and its important to get things done. Yet at the end of the day we are all going back to the same place. Thus, keep frustration and set backs in perspective of one's life. 

Fed Reserve Chair Jerome Powell Discusses Economy

 Federal Reserve Chair Jerome Powell discusses the economy. Real GDP rose significantly over the past quarter and its expected to slow a little. One of the explanations he offered was because people are going back to work. That is very true and the economy is powering up. Of course services are low because they rely on socializing and that is impacting the ability to effectively engage the economy. 

He also went on to discuss a slightly less outlook for 4Q of 2020 and the need for stimulus. I'm a believer in trying new things. Stimulus through the hands of others made sense from a consumer spending standpoint but I think this one might be better to be focused on sparking development in our dilapidated cities and drawing back international investment (short versus long tail benefits)  

The U.S. has the opportunity to push its economy forward with digital transformation and the benefits that come from increased transference of knowledge. Because much of the world is going online it would make sense to develop our Digital GDP capacity and at the same time increase manufacturing. That will require a level of coordination between local, state, and federal governments. 

This isn't only about economics. This is about reorienting global networks and shifting the supply chains in the big data world of those networks back to cities that still have market relevance and can improve the position of diverse and ethnic millennial workers. There are no gifts in such a plan because this is about investment development that helps bring manufacturing/technology back and also create opportunities for for the young to compete on the global market. 

Traits of High Performing Genius Students in Online Education

 One of the things that educators look for is those high performing students that were currently undiscovered. This occurs because our job is to teach others and in turn when we come across an exceptional performer we may want to better understand thinking patterns and in turn develop strategies for encouraging this population but also helping others be more creative. Online education helps us better understand how to enrich this population for national development.

The essential differences between Genius and common thinking are not as wide and large as we think they are. Instead, they are more of a way of thinking. How highly gifted students think is on a completely different track and line than other people based on thinking strategies that come to more accurate conclusions. 

According to the article "For a Genius Brain, Focus on How to Think, Instead of What to Think". They are able to reach across different neural networks that allow them to connect ideas together in a more creative way. They are able to activate multiple areas of their brain to solve problems. 

For example, genius can utilize multiple mental networks such as The Default Mode, The Salience Network and the Executive Control Network. Their brains and thinking patterns are pliable. This juxtaposition between things that are dissimilar (i.e. Leonardo di Vinci made a connection between vibrations in water and the sound waves of the bell).  

Another difference is that while most people are only willing to spend a certain limited time on problems and gravitate toward pre-defined answers (Difference between an A student and a genius). Genius often think of these like mental puzzles and embrace the not so simple ideas that lead to insights. They can spend decades on an idea that would have long bored others.

They are out there in small percentages as a normal adaptation to our species. Other species likely have this small percentage adaptations that are also part of the process evolution. Most will never be found but online schools can help us start to think about the ability to go back and research high performance to see how they make decisions, think about topics and how they were graded. It would give you a pretty good model of how this trait works. Having online individualized education using artificial intelligence allows us to enrich the gifted quickly and effectively. 

Does COVID Teach Us About New Global Economic Models?

 Economics is only the understanding of human behavior on a macro level. In traditional economic models, information and decision making happen in the context of physical conversation. Such human-to-human interaction is how people obtained information and learned how to react and handle new crisis. What COVID did was highlight how these social networks operate on a global level.

Perhaps all of the information might not be available from every country and ever location. Yet, most countries are tracking the spread of the virus. While they do so they also open up a glimpse into big data and global understandings.

1. How social networks operate on a global scale. The spread of the disease is through social interaction highlighting who was in contact with whom (i.e. contact tracing) and how disease spreads.

2. How there are two different economies at work here (The digital, the physical and something in between). There are some losing and there are some winning and those aligned to the Digital GDP economy seemed to fair better. 

I'm working on a theory on clusters and transactions so I keep this concept in mind and sort of wait until someone has the resources to collect the high level data provided in the future by countries (Assuming they share it publicly...there could be some national concerns on releasing internal social network movement). From that information we may see how economics, social interaction, and the spread of ideas occurs. I'm not sure if we can do this but it seems possible. 🤔