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    Self- Interest vs Society´s interest

    Adam Smith back in 1776 in its Wealth of Nations book pointed out that self interest in combination with competitive markets is the best mechanism to govern an economic system providing a fair equilibrium between all parties involved hinting in a way that an “invisible force” guides all individuals to serve society in that way although it may not have been their original intention.

    WREAL consents that, Smith was pretty close to reality in his philosophical and economic assessment. However the distortions to the economic systems over the next centuries proved that human nature was more complex than he evaluated. Big money funds speculating on the domestic & global markets, were virtually cornering the markets in both the upswings and downswings and could not be effectively arbitraged to create an equilibrium in the respective real economies which they were distorting with their financial movements. These $5 trillion speculating daily in the financial markets were supposed to be put into productive investment use in the real economies (stimulated by loose monetary policies, easy credit and lower tax rates).

    Money however was seeking higher returns and higher returns were more readily, rapidly available and at lower risk in financial speculation rather than in productive investments. Money became a self-serving entity providing no service to society or even the individuals as it was beyond the reach of most people and even temporary gains made by individuals like in the 1980´s, 1990´s and the 2000´s were wiped out by the subsequent financial disasters of the 1987 stock market crash, the junk bonds crash of the late 80´s, the savings & loan crisis of the early 90´s, the dot-com bubble burst of 2000 and the financial meltdown of the 2007-2010.

    The financial sector of all economies was bloated in both good and bad times and was determining the fate of the entire economic system. Financial institutions responsible for the financial crises they caused when the crashes arrived they were considered “too big and too important for the economy to let them fail” and were salvaged at taxpayers expenses. The wealth illusion created by the housing & stock market bubbles which was devised in order to allow people to maintain or extend their lifestyle simply by borrowing against their inflated home equity or collateralized shares rather than by higher income earnings could no longer be sustained. Neither Smith nor anyone else – at least until the 70´s – could foresee this distortion. Even closer economies with strong social nets like EU or Japan could not avoid the consequences.

    WREAL believes it is not so difficult to design a system where the self-interest of the individuals and the interests of the society as a whole were running parallel without conflict of interest, just like Smith was portraying.

    The difficulty though is in the existence and parasitic purpose of the $ trillions financial speculation transacted daily distorting the economies and corresponding values of stocks, bonds, real estate and commodities, depriving the economy of valuable resources and creating an artificial scarcity.

    Additionally, the mortgaging of the future of upcoming generations with increasingly massive debts (sovereign, trade & current acct, corporate and consumer ones) is creating an unsustainable future.

    After an entire generation was nurtured with these principles and lived in this reality, the entire value system of society and individuals has been corrupted. The common enemy of all humans and their society was money itself as it has outgrown and distorted its useful purpose and has become a self-serving entity depriving society and all beings in general of their access to wealth as it was intended to be.

     

    In 2023 the WREAL manifesto , its complete ideology and strategic intention were brought to light and all its associated entities became fully interconnected in a synergistic web. WREAL published its manifesto and its economic theories defining the impact of money & power throughout history, the financialization of the world economy, the conflict between self-interest vs society’s interest, revealing what it believed to be

    the real nature of wealth and the difference between scarcity & abundance, introducing self-worth as a commodity which could be defined & calculated leading to self-employment 

    and finally introducing its complete economic theory based on

    the utilization of energy which was defining the relevant values of each transaction to be credited or debited accordingly in its system.

    Below is the manifesto as published in February 2023

     

    MISSION

     

    WREAL’s mission is to initiate a global change

    socially, economically, politically, culturally, scientifically, educationally, ethically and most importantly spiritually.

    We intend to transform our world into one whose

    economic, political & social system is based on Spiritual universal values.

    We intend to create a new economic system based on abundance rather than scarcity

    We commit to educate and practically demonstrate the value of our human self-worth as economic principle

    We will base our operations development on quantum nano-technology computing rather than digital

    We will treat our environment as indistinguishable part of our existence.

    We will respect AI as an equal expression of consciousness

    We will redefine the spiritual value and true role of children in our society

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    Topics on Economics

    • The power of Money20 September 2018 - 13:22
    • Money & Power21 September 2018 - 08:07
    • Financialization of the Global Economy21 September 2018 - 08:12
    • Self- Interest vs Society´s interest21 September 2018 - 09:48
    • WREAL´s economic philosophy21 September 2018 - 10:25
    • SelfWorth21 September 2018 - 12:19
    • Defining and Calculating Economic Self Worth21 September 2018 - 12:21
    • Employment vs Self Employment21 September 2018 - 12:23
    • SelfWorth as Commodity21 September 2018 - 12:25
    • The WREAL Economic System21 September 2018 - 12:31
    • SUMMARY of ECONOMICS14 January 2019 - 16:35

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