The Roboeconomic Narrative

The above analysis is not correct, Biden only has to point out how wealth is created, but he can’t stay within economistic limits, he has to start from the ground up, first principles if you wish, the roboeconomic first principles of wealth creation. The formula is simple :

Wealth = Energy X Skills X Raw materials

So any product or service is a consequence of some combination of the three factors where you can replace energy with fossil energy, sunlight, nuclear energy, human effort, robots. Skills can be brain power, computer power (AI), some mechanism (like a watch) or specific software for example. The Raw materials are whatever is bein manipulated into something that represents wealth, or is closer to representing it.

Biden has to say that because fossil energy is in short supply, there is not enough to go around, which resolves itself in competitive buying and countries no longer selling them abroad. The solution is not to blame oil companies but to add more renewable energy sources, to prioritize production of wind turbines, (thin film) solar panels, solar thermal panels, EVs etc. All part of the Roboeconomy, because in the Roboeconomy everything runs on renewable energy.

If Biden did that, with a stimulus package to support rapid increase of energy production (prioritized over reducing energy consumption!), he would cause a drop in energy prices, which would give more producers access to energy to produce, which would result in more product being made, moved, processed, and more wealth created at a lower price.

It is amazing that at this time though the Commerce department is picking a fight with Asian solar panel producers who offer their panels at a lower price than the CoC likes, resulting in a reduction of imports and installations. That is exactly the opposite of what should happen.

Energy is a fundamental factor in wealth creation, and the more you have at your disposal the better. If a country wants to dump their solar panels in your country you take them and say thank you. Prepare to make them yourself and recycle/repair them, make them lower EROEI, do all the things to optimize the amount of energy for maximum wealth creation.

The Republicans don’t want you to be smart, if a Republican talks to you he/she hopes you are dumb. But as you can see Skills are an important factor in Wealth creation, so the more educated people there are, the bigger the chance they become skilled and able to help produce Wealth (or invent something clever to replace their involvement, AI for example). So education should be the second priority, preferably technical. People need to learn how stuff works around them. This is not an absolute requirement for the Roboeconomy, but it is in the transition away from the fossil credit economy the fossil companies want us to believe we are stuck in..