Essay/Chapter 9. Mercometrics and mercologics

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1. Metrics and «science»
2. Operative definitions

From the point of view of the theoretical knowledge of the market, the monetary reform which we have suggested has very important consequences. In fact, the rational monetary system of the pro-telematic cheque-invoice makes it possible to convert the market definitely into an object of scientific study.

1. Metrics and «science»

Without a suitable metric system, no discipline of knowledge of the phenomenal reality may become «scientific».

In the case of the market science or mercologics, it is exactly the same: it is necessary a metric system for measuring the elementary market phenomena: the elementary monetary exchanges. And this metric system is undoubtedly the monetary system.

The present monetary system, however, does not fulfil suitably this task: it is irrational and antidocumentary. The pro-telematic cheque-invoice which we suggest is the basis of a real and effective mercometrics, without which we cannot have later any mercologics: at the most, there could be a qualitative approximation, which is not enough for the experimental «sciences».

2. Operative definitions

A rational metric system allows to give operative definitions, that is, definitions liable to appear in experimentally verifiable statements.

In the case of the market, if we consider it as the number of the elementary free monetary exchanges (carried out in a given time-space), this definition can only be operative if there is a cheque-invoice, because in this case every elementary monetary exchange is well documented and, therefore, can be known and measured.

Market exchanges are specific phenomena which, thanks to the use of a monetary system, summon up abstract dimensions; these abstract dimensions are picked up faithfully, exactly and automatically, by the pro-telematic cheque-invoice, and make up the basic material for the logic, pro-scientific processing of data.

Only so can «science» be spoken of; only so is it possible to confirm or invalidate any hypothesis or model on the market according to a «scientific» process.

It is therefore urgent for mercologics to rely on a solid and dependable mercometrics as the one which may be offered by a monetary system based on the pro-telematic cheque-invoice.