Article from Inc. The Law of Supply and Demand is Defunct: I
Ever wondered what it's like to meet a genius before he/she becomes a common household name? That's what it's like talking to Doug Howarth, founder of the newest economic theory, the Law of Value and Demand, author of an upcoming work on the subject, creator of MEE Inc and visionary behind the complimentary, revolutionary software, MEE4D™.
Here's the story about how Doug got the spark that's igniting a future economic empire.
LM: Tell me about how MEE Inc. started and the inspiration behind it. How did you come up with this concept?
DH: I was shopping for washing machines with my wife. As she talked about their features on the one hand, and what we could afford on the other, I realized she was using multiple mathematical dimensions at the same time. I wondered if collectively everyone thought that way and if I could prove that. They do. I did.
LM: Who would think something as simple as an appliance could generate that kind of thought? I guess you never know where genius will strike. What is your background? What made you want to venture out on your own?
DH: I have a degree in economics and a minor in math. I always suspected the law of supply and demand was dangerously incorrect, and that mathematical or market dimensions need not have counterparts in physical space. If correctly applied, the law of value and demand, which I discovered and proved over the course of dozens of speeches, in addition to ten peer-reviewed papers, can help buyers, sellers and new market entrants alike. I recognized there is a large market for it.
LM: I know from previous discussions you and I have had that there can be quite a few technicalities to this theory, but how would you explain Multidimensional Economics (ME) to the layperson?
DH: Sure. Product values, as sustainable prices, go up as customers get more of the features they want. However, as prices go up, quantities purchased fall.
Multidimensional Economics recognizes these forces connect as the opposing dual states of Value and Demand across four non-negative dimensions. A game of tug-of-war works with two teams trying to move in opposite directions; this is the same concept with more facets to it - Value and Demand counter balance one another.
LM: Can you give me an example of how this works?
DH: Value in electric cars goes up with horsepower (dimension 1), and range (dimension 2), which collectively support price (dimension 3). As prices go up, quantities sold (dimension 4) fall. We show competitors' positions as dot plots in dual states across four linked dimensions.
This is work MEE has done for several Fortune 500 companies, and we're excited to expand that offering to everyone, in every market, across the US.
LM: That's amazing. When you work with someone like that and you've completed your analysis, how do your clients put it into execution?
DH: Sometimes our team will discover under priced products. For buyers, these are their best deals; for sellers, this means they are losing monies that MEE can quantify and correct. Overpriced products have the opposite responses. For new market entrants, MEE can discover the market openings with highest profit potential.
LM: Since you're creating a major shift in economics, what do you see as the future? Not only for economics, but for how we go about conducting business and making crucial decisions?
DH: Business, economics, and engineering students will have to study ME in college or risk being dangerously out of date leaving university. Concerning business decisions, ME offers the most comprehensive view of the competitive landscape possible, revealing not only customers' primary markets but their ancillary ones as well, in N-dimensional analyses.
Prudent businesses will always have to perform Multidimensional Economic analyses before, during and after any product cycle. The payoffs for such studies can be enormous, as can be the costs of avoiding them.
LM: That's quite a bit to process and I'm excited for the future of the industry. With all that going on, what's next for MEE and your team?
DH: Well...our team of extremely clever engineers and analysts (I'm withholding their names to avoid poaching) just released our MEE4D™ software. We are giving classes in it and the theory of Multidimensional Economics since many groups could use our help.
LM: Last question - where can I learn more about this?
DH: See www.meevaluators.com to learn about our patent-pending MEE4D™ software and watch our latest video on the subject.
LM: You heard it here first, folks. The Law of Supply and Demand will no longer be the staple across classrooms, board rooms and software across the world. Take my word for it and check MEE out.
The opinions expressed here by Inc.com columnists are their own, not those of Inc.com.
Published on: Aug 15, 2017