We define a new form of political economy called philosophicracy. This idea stems from Plato’s concept of the philosopher king, someone who rules with reliability, intelligence, and wisdom. To describe reasoning of why these individuals are most fit for leadership, Plato gave the metaphor of the ship of state. Historically, there have been challenges for this to have become a reality, but advances in modern technology have set the groundwork for such a golden era.
In such a form of a political economy, we would evaluate and implement projects and policies which would result in the best possible future for life on earth. Simultaneously we would refine our understanding of how we define what is good as well as the methodologies and techniques to implement it. With the collection and digitization of models of how our world function, we would be able to utilize simulation systems to evaluate the accuracy and outcome of different policies. New academic research would be able to build on top and refine existing models as well as have immediate impact and integration into the larger economy. Communications and payment platforms would be able to adjust costs of various goods and services to individuals based on their utility to both the individual the the greater society. New intellectual property and breakthrough advancements would be able to be tracked back to and bolster the systems and institutions that helped shape it in order to promote continued development. With the tracking of value, we will be able to remove the silos of knowledge that current systems encourage and encourage sharing of knowledge and best practices while properly attributing and rewarding those who have pushed human progress forward.
Such a system would allow externalities to be accounted for in business and industry. As we understand expanded role of different work which contributes to society as a whole such as parenting which has disproportionately fallen on the shoulders on women. Allowing the behavior of individuals, their socioeconomic situation, and the backgrounds of the people in their lives to be cross referenced with these models allows us to more quickly identify at risk individuals and provide a more personal and continuous intervention that would help steer them in the right directions. This not only helps the individuals live healthier and more productive lives, but also reduces their burden on society - not only the financial burden of corrections programs, but also emotional and psychological impact they can have on the individuals they come into contact with.
For the majority, we can better provide education experiences. Through the creation of an integrated simulation system, we are able to provide a wide range of work experience that would currently come at a restricting cost. Through altering the spatial and time scale of such an interactive simulation, we would better be able to educate individuals of the wider and long term impact of decisions and their consequences. We would be able to rapidly iterate through different possibilities even those that would be unethical to carry out in reality, much like we already with utilizing flight simulators in situations with dangerous weather or a damaged aircraft. This would encapsulate everything we have learned in the gaming industry to make such experiences captivating. On a larger scale we would be able to continuously be able to provide up to date education and do social planning to make sure that both society and individuals are prepared with the skills to match the changing world. Individuals would be able to contribute to provide the most impact instead of being limited by their place or domain of employment.