Inequality at Davos

[First published 22nd January 2014]

The World Economic Forum at Davos this week is discussing inequality. NBC News declared: "With the global economy slowly getting back on its feet, 2,500 delegates gathered in Davos, Switzerland face a vexing question this week: How to spread the wealth."

This is in the same week that Oxfam released a report which revealed the richest 85 people in the world own wealth equivalent to that owned by the poorest 3.5 billion, approximately half the global population. Expressed another way: 0.00000000017% of the world's population own the same as the poorest 50%. It throws the Occupy slogan of "We are the 99%" into sharp relief.

Accelerating inequality is a function of the economic system and is driven by three fundamental flaws which, if not addressed, render all other remedies impotent and will result in the collapse of the economic system.

These flaws have been embedded over centuries, to serve the interests of those who shaped the banking and economic system, the ruling elites. These crucial flaws ensured (and ensure today)

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Blueprint for a New Economy

This article is reprinted from Issue 5 of Nervemeter, a magazine for the homeless. Vendors receive all the money for selling the magazine, unlike Big Issue. All the money raised from donations is used to print more copies. You can download the latest copy of the magazine from here: http://www.nervemeter.co.uk/issue.pdf

The economic system has evolved over centuries to satisfy vested interests which derive their power from it and exercise their will through it. 

The foundations of inequality, conflict and environmental waste were laid centuries ago by the introduction of three systemic flaws. These flaws are embedded in the view of what a modern economy should look like even though widespread poverty, inequality, environmental devastation, conflict and loss of individual freedom show the economic system only works for the benefit of the few, not for all. 

The system demands exponential economic growth (rather like a bicycle

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IU Earth Rights Declaration

The International Union for Land Value Taxation has updated its Earth Rights Declaration:

 

International Declaration on Individual and Common Rights to Earth

We hereby declare that the Earth is the common heritage of all and that all people have natural and equal rights to the land and natural resources of the planet.

Subject always to these natural and equal rights and to this common ownership, individuals can and should enjoy certain subsidiary rights in land. These rights properly enjoyed by individuals are:

1. The right to secure exclusive occupation of land

2. The right to exclusive use of land occupied

3. The right to the free transfer of land according to the laws of the country

4. The right to transmit land by inheritance

These individual rights do not

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Economics to Save our Civilisation

In Critical Thinking we've been developing ideas for a new economy and communicating these ideas to other groups to expand the debate on how we may escape the rolling economic crises. This video (53 minutes) is of a presentation to the Chartered Institute for Securities and Investment (CISI) in London.

The slides used for the Economics to Save our Civilisation presentation contain links to the information sources on which the presentation draws

"Somewhere in our history we took a wrong turn and today we are reaping the consequences. If we don't step back to evaluate the root causes of the rolling economic crises, our civilisation is in danger of collapse."