Computation-Consciousness Dualism and the Economics of Digital Civilization: Formalized System Boundaries and the Ultimate Value of Consciousness Capital

Abstract

This paper proposes Computation-Consciousness Dualism as the foundational economic paradigm for the digital civilization era. We systematically demonstrate that human consciousness, as the only non-formalizable ontology irreducible to Turing computation models and formalized systems, will become the ultimate source of value in highly digitized societies. Starting from first principles in computability theory and mathematical logic, we prove that all digital technologies based on the Universal Turing Machine—including AI, blockchain, and the metaverse—are inherently bounded by the limitations of formalized systems, incapable of self-foundation, autonomous evolution, and meaning attribution. Building on this insight, we construct a General Equilibrium Model of the Formalized/Non-Formalized Dual Economic System, propose the Consciousness Capital Production Function and the Value Origin Theorem, and prove that as digital technology pushes the marginal cost of material production toward zero, the only endogenous driver of economic growth will be the creative activity of human consciousness. We further develop an Extended CAPM for Consciousness Capital Pricing and a Consciousness Game Model of DAO Governance, and apply this unified framework to analyze blockchain and metaverse economies, revealing the consciousness value essence behind phenomena such as DeFi, NFTs, DAOs, and RWA tokenization. Finally, we discuss the transformation of traditional macroeconomic models, income distribution, institutional design, and policy challenges in the age of consciousness capital, providing a theoretical foundation and policy framework for the sustainable development of digital civilization.