Abstract
Economics has evolved over time, and it helps to explain and shape the actors’ economic activities. Although economics is useful to humans’ lives, it is either failed or insufficient to justify many real-world cases, ranging from humans’ rapid and/or
unpredictable progress in the information age to decision making-selecting mechanisms, optimization, gross domestic product (GDP) matter, and so on, raising concerns about contemporary economics’ significant limitations, inspiring us to rethink, redefine and reform it in new contexts. Fortunately, the mindsponge theory and many disciplines have been formed recently, allowing me to develop a new branch of applied economics known as “mindspongeconomics – mindspongecon”. Mindspongecon refers to both rational and irrational thinking mechanism that employs the serendipity-mindsponge-3D knowledge management system (a special information processing system) based on dynamic core values to find high-value solutions/choices that can address many economics' shortcomings. From my perspective, it is time to update, learn, and apply this “new economics” to deal with global issues (e.g., inequality, climate change) and/or to achieve humankind’s long-term development goals.