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Today, we live in a world with unprecedented productive capacity. Yet, it is also a world in which precious human, social and productive capacities remain underemployed or unutilized.
Today, we have the means to make the transition by peaceful evolution rather than violent revolution. As in the past this process will be driven, not by the permission of the privileged, but by the idealism, aspirations, demands and actions of humanity. The evolution of money is a key to universalizing prosperity through peaceful social evolution. The opening up of commercial relations between China and USA in the 1970s is a dramatic example of the power of money to channel human energies from destructive violence to peaceful cooperation.
Gold coins were valuable because they could be used in exchange for other read more here goods or services, but also because the gold itself was valued and had other uses. Commodity money gave way to the next stage-representative money. Attacks on the prevailing system of money are an encouraging indication of a growing social awareness and aspiration for a more effective and equitable organization of social power.
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- I have yet to find a person who will sincerely say that he does not want to be wealthy.
- While there may be those who claim they prefer not to be wealthy, I really doubt that they really meant what they say.
- The “wealth” one derives from good health is actually a life free from circumstances that afflicts us in some way and hence, affects our happiness and comfort.
- I also noticed that it is not the level of wealth that dictates their level of happiness.
- This got me wondering and prompted me to write about it in this column.
In contrast, people are more than willing to accept 20-dollar bills. In fact, the U.S. government protects your right to use U.S. currency to pay your bills. In order to maintain its value, money must have a limited supply. While the supply of cows is fairly limited, if they were used as money, you can bet ranchers would do their best to increase the supply of cows, which would decrease their value. The supply, and therefore the value, of 20-dollar bills—and money in general—are regulated by the Federal Reserve so that the money retains its value over time.
Economists say that the invention of money belongs in the same category as the great inventions of ancient times, such as the wheel and the inclined plane, but how did money develop? Early forms of money were often commodity money-money that had value because it was made of a substance that had value. Examples of commodity money are gold and silver coins.
An impartial, objective inquiry into the social origins, power and evolution of money is the right starting place and essential condition for fashioning a better future for humanity. Ushering in abundance of freedom, rights, education, wealth and power-sharing will necessitate a breaking of established privileges and entrenched power structures. In the past, this has almost always been accomplished by violent revolution.