Financial Economist Dr. Armen Papazian has been announced as a speaker for Icarus Interstellar’s 2013 Starship Congress, with the following talk: Money Mechanics For Space.
Dr. Armen Papazian is the founding Chairman and CEO of Keipr, a boutique financial modeling and consulting firm, and the founding CEO of the International Space Development HUB. After earning his Ph.D. in financial economics at the University of Cambridge, UK, he embarked on a career path that led him to achieve capital market history in the Middle East. As a former Managing Director of Innovation and Development at the Dubai International Financial Exchange (Nasdaq Dubai), Dr. Papazian led the launch of the Middle East’s first Structured Products platform with Morgan Stanley, Deutsche Bank, and Merrill Lynch. He has led the creation of the region’s first tradable bond and Sukuk indices with HSBC and the first fungible dual listing with a US exchange in the region. He then assumed the role of Head of Islamic Finance for UBS AG, with a global and cross business mandate, serving wealth management, asset management and the investment bank. He acted as a Judge for the FT Investment Banking Awards in 2011. Previously, he held the honorary position of Fellow at the Cambridge University Judge Business School, UK. He has numerous publications in a variety of outlets, he contributes regularly to policy debates in various media globally.
Following is the abstract for Dr. Papazian’s talk Money Mechanics For Space:
This paper argues that humanity is faced with a debilitating and inappropriate financial and monetary architecture that must be addressed if we are to take charge of our own evolution, and ensure that we do not repeat the mistakes of the 20th century. Money mechanics, or the methodology and technology of money creation on Earth, in Space, is a key bottleneck. Money, in banknote or digit form, i.e., cotton and linen or zeros and ones, is created and expands through debt and credit. This logic is founded on a principle of scarcity propagated by the science of economics, while there is nothing scarce about where we are! Economics, through its focus on scarcity, denies that our planet is in space, that it is in a galaxy with billions of stars, in a universe with billions of galaxies. How can a species in cosmos not define itself as such? The 21st century is the solar century that will redefine the imaginative frontiers of our existence, and the most crucial challenge we face on the way is to reinvent money mechanics, such that we are able to invest in space timelessly, such that we can invest in our own evolution without conditioning it by coupon and principal payments to some bank. The current monetary architecture has created a multi-trillion debt balloon on our heads and our children’s future, an artificial burden that serves to perpetuate an obsolete monetary model founded on debt and credit. We must reinvent money without debt, and we must inject the debt-free money into key industries and our own evolutionary momentum, from space exploration, to climate change, green energy, healthcare, and education. This paper describes a mechanics of money that is fit for a species in the cosmos, that reflects our stardust nature, and recognizes the immense abundance of the universe we are part of, so that we can explore, understand, and cherish the gift of being in it.