Guest: Dr. Armen Papazian; Topics: Dr. Papazian summarized and answered questions regarding his new book "The Space Value of Money: Rethinking Finance Beyond Risk and Time.
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We welcomed Dr. Armen Papazian back to the program to discuss his new book, "The Space Value of Money: Rethinking Finance Beyond Risk and Time." Here are some online references that you will find valuable when listening to this discussion:
https://www.jbs.cam.ac.uk/insight/2022/how-can-the-space-value-of-money-boost-sustainability/
Our discussion with our guest was at times complex with detailed analysis, theory, economics, plus areas not so familiar to many of us. Thus, I suggest following the Tags as they summarize key points of discussion and in the order discussed on the program. In addition, please check out the following for additional information: https://spacevaluefoundation.com.
As we started our discussion, our guest redefined space for us. For the purposes of his book, space was not so much about outer space as most of think about. Instead, consider space as being spatial with layers from under the oceans on out to and beyond interstellar space. Our guest listed examples such as the under the ocean space, various levels of the atmosphere like the ionosphere or stratosphere, then layers in space such as cislunar and so on. He talked about the need to be sure that investment in any of the layered space (again, not referring to outer space) needed to be accountable and benefit humanity, not just the bottom line. Armen also talked about traditional investments being based on time and risk. He said that was a starting point for making changes but another dimension was needed since traditional investments had failed the test of benefitting more than just the bottom line. In addition, the measurement of a traditional investment does not include any accountability for being sustainable and being responsible. Most of our discussion focused on his elaborating on these early statements, answering questions from callers and email listeners who wanted more information about his spacial layered definition, holding businesses and corporate executives accountable for benefiting more than just the bottom line. Later in the discussion, listeners along with myself questioned how one would avoid bias or ideology in saying yes or no to a particular commercial investment. Don't miss how Armen responded to the bias questions.
Much of the rest of the discussion included listener questions asking for clarity and a better understanding of what Armen was proposing. Most of the information and planning offered by our guest was new to our audience as our guest outlined a plan with new priorities, new financial math veering away from time and risk investment measurement tools, even exceeding sustainability suggestions beyond the ESG (Environment, Social, Governance) which has been introduced to global economies including here in the U.S. Armen responded to all our questions making what he was proposing easier to grasp but more than likely not so easy to see how the ideas might be implemented. In fact at one point later in the program I asked about implementation and wondered if the program Armen was talking about relied heavily on attrition, that is the retiring or dying out of the ruling guard in place today. Our guest was also asked if his proposal and definitions required a one world government and/or a one world global or financial economic system. Listen to his response and give it some careful thought. In addition, we would like you to post your comments on our blog to let us know your thoughts on this new way of determining the space value of money.
Many listeners along with myself wondered about the process used for approving this or that investment and meeting the criteria Armen explained would be in place. Not only who and by what process would an investment have to seek approval from but how do you award approval without bias and prejudice. How does one avoid ideological decision making in favor of evidence and fact or is the ideological the preferred decision making process. While our guest did respond to these questions, I have to admit I was left with my concerns that such investment approval would be based more on ideology than on the merits of the investment, even were the investment to be objectively measured for accountability and global benefit as Armen said would be the case.
About midway through our discussion, our guest outlined various steps to accomplish the model being discussed. Again, pay attention, then let us know your thoughts by posting on the blog. In addition, note the examples used by our guest throughout the discussion which were most helpful in understanding this new way of considering investments in layered space which is much broader than just thinking "outer space." As a good summary for this discussion, visit the Cambridge University link above titled "How can 'The Space Value of Money' boost sustainability?" At the end of that article six highlights from the book are listed. They are important takeaways to note and understand. As you listen to the balance of the program, make a note of your questions for our guest, including the listener commentary, then post your questions for our guest and listeners on our blog. I will make sure Armen see the blog comments plus I will encourage him to respond based on his available time.
Please post on our blog for this program as we want to hear from you. Remember, if you buy the book through the OGLF/Space Show nonprofit Amazon ad on our home page or through the SMILE Amazon program naming OGLF as your charity of choice, Amazon will contribute a percentage of the selling price to OGLF. You can reach our guest through me and through our Space Show blog.
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