| |
Susmita et al,
I hate to defy the common HR mantra “You can't argue with someone's feelings” but:
Where markets exist the idea of debt will exist. I have argued both for and against capitalism with friends and business associates. As a system of social equality it is unrivaled in it's simplicity and efficacy. Concentration of wealth is inevitable where there are market systems and forces. Providing basic necessities to all in the context you discuss is a social issue, not an economic one. Creating a currency that does not lose value relative to other currencies or to itself over time (inflation/deflation) requires ONE universal currency, or a world that does not ever change and goods are never in short supply.
As an aside, I don't understand the allure of a gold plated codpiece, I do believe in the right of someone to buy one. I believe their rights extend into the world of how they treat others, and thusly how they earn and spend their money. And with all of those rights includes the right to be indebted and to be a lender. Socially these systems evolved into the things they are because they are superior and inclusive of prior systems and institutions. Designing the next institution must include the benefits of the current system as well as some emergent properties that from my perspective do not include many modifications to the currencies currently traded. I suspect at best we will evolve to a two or three currency system as a species as the ability for any one country to wield economic power (a la the formation EU) will erode as more countries create collaborative economic power bases.
Kindest Regards,
Wiseman
|
