Episode #74. Volitional Science: Freedom, Markets, Value, and Entrepreneurship with John Deming & Mike Hamel
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What does it mean to build a civilization that advances forever—and what role do entrepreneurs play in that project? In this episode of The Value Creators Podcast, Hunter Hastings interviews John Deming (author) and Mike Hamel (editor) about their book Blueprint for a Spacefaring Civilization: The Science of Volition. Deming and Hamel frame markets, innovation and entrepreneurship through the lens of volitional science: a scientific approach to subjective value and long-term progress.
Key insights include:
- Markets are non-coercive discovery engines that reveal value through voluntary exchange.
- Volitional science reframes entrepreneurship as an experimental, long-horizon activity that discovers meaning and utility.
- Institutional design matters: intellectual property, revenue-share structures, and time-horizons shape whether innovation translates into civilization-scale progress.
This episode mixes economic theory, civilizational vision, and practical proposals—from licensing regimes to new corporate structures—aimed at accelerating durable progress.
Resources:
➡️ Learn What They Didn’t Teach You In Business School: The Value Creators Online Business Course
Purchase the book “Blueprint for a Spacefaring Civilization: The Science of Volition”
Connect with Hunter Hastings on LinkedIn
Subscribe to The Value Creators on Substack
Knowledge Capsule
- Markets as Non-Coercive Discovery Processes
- Markets provide a solid foundation on which to build civilizational progress.
- Critically, market transactions are voluntary, revealing value through choice.
- Value is determined by the buyer, not by producer claims.
- Decentralized systems serve diverse preferences more effectively.
- Markets provide a solid foundation on which to build civilizational progress.
- Volitional Science: A Framework for Subjective Value
- “Science of volition” applies scientific inquiry to valuation.
- Explains how inventions become market-tested innovations as a result of user evaluation.
- Recasts entrepreneurship as an experimental process.
- “Science of volition” applies scientific inquiry to valuation.
- Entrepreneurship as Practical Experimentation
- Every entrepreneurial act is a hypothesis tested in the marketplace.
- Consumer adoption serves as confirmation or rejection.
- Iteration builds cumulative, practical knowledge.
- Every entrepreneurial act is a hypothesis tested in the marketplace.
- Value Emerges from Customer Experience
- What matters most is the post-exchange experience.
- Retention and referrals follow consistent value delivery.
- Businesses must design both the exchange and the lived experience.
- What matters most is the post-exchange experience.
- Time Horizons and Civilizational Progress
- Extending time horizons beyond quarterly results reshapes strategy.
- Long-term orientation changes investment and innovation incentives.
- Civilizational progress requires durable, compounding growth.
- Extending time horizons beyond quarterly results reshapes strategy.
- Intellectual Property and “Primary Capitalism”
- A proposed system for registering and licensing scientific ideas.
- Two principles: non-coercive use and positive-market royalty agreements.
- A public registry would let innovators license without losing diffusion.
- A proposed system for registering and licensing scientific ideas.
- Alternative Corporate Structures: Equity vs. Revenue Shares
- Distinction between ownership (equity) and revenue participation.
- Aligns incentives between entrepreneurs and collaborators.
- Designed to reduce conflict and foster cooperation.
- Distinction between ownership (equity) and revenue participation.
- Opportunity To Move Beyond Employer–Employee Relationships
- Suggestion to replace fixed employment with value-based associations.
- Contributors compensated through revenue shares rather than wages.
- Though challenging in practice, this could align incentives more closely.
- Suggestion to replace fixed employment with value-based associations.
- Asset Stewardship as a Driver of Value
- Neglecting assets reduces customer experience and long-run value.
- Maintaining and improving assets safeguards future value creation.
- Short-term profit extraction at the expense of assets undermines sustainability.
- Neglecting assets reduces customer experience and long-run value.
- Science and Innovation as Civilizational Engines
- Science and markets are cumulative processes that push progress forward.
- Scientists could engage in markets of ideas through licensing systems.
- Linking science more directly to entrepreneurship broadens prosperity.
- Science and markets are cumulative processes that push progress forward.
- Civilizational Risk and the Spacefaring Imperative
- Humanity faces existential risk from destructive technologies.
- Expanding into space spreads risk and accesses new resources.
- Progress must be paired with governance that preserves freedom.
- Institutional Transformation for Civilizational Shifts
- Legal and incentive changes are key to enabling innovation.
- Open markets, licensing mechanisms, and long time horizons drive progress.
- Entrepreneurial leadership is central to building new institutions.