Chris Armstrong: We cannot solve our current (Economic) problems with the same thinking we used when we created them

Title: "We cannot solve our current (Economic) problems with the same thinking we used when we created them” Albert Einstein.

Trust in politicians, the establishment, charities and banking is dissolving fast and the middle class is breaking apart into more radical extreme left and right camps. The rise in radicalism, nationalism,Trump and Brexit are the result of a failure of the now out of date economic model or old capitalism. Its simply not fit for purpose and needs new thinking for this post industrial age. The wealth of the top 1% is increasing while the rest the 99% and especially the middle class its shrinking and our democracy is now at risk. We are living on borrowed time.

As a physicist I understand that new models can rescue us from old ideologies that have reached their useful limits. Take Newton Mechanics which was overtaken by Einsteins Quantum Model. This happened not by using the same thinking to solve the problem but by a complete left of field rethink that made sense. 

Now we need to do same as trying to solve the old capitalist model which was designed in the pre-Internet and pre-mobile age. The old capitalist model worked for the lucky few but its no longer fit for purpose. The Emperor has no clothes but still our politicians and central bankers are firefighting to restore the past with QE (printing money), negative interest rates and trying to return to the old days which is sheer fantasy while Rome burns. 

We don't need to build Trump walls we need to launch SECS- Social Economic Currency System. SECS is an new economic model for the digital connected world. A dual currency model that combines the best of the competition friendly capitalist model while rewarding social community contributions. Today Philanthropy is seen as something wealthy people do to give back after they have spent a life time of self centered capital accumulation. This is just part of the old thinking but the good news there is a much better way- SECS.



See Chris’s submission on "Money 2.0 The Swiss WIR Way" for #cong15

© Eoin Kennedy 2017 eoin at congregation dot ie