Out of these two, finances and politics, the financial world is already responding to the pressure of change. Digital money is one big step forward. It is not just about ease and convenience, but about getting rid of the sense of possessing money, which the actual currency in hand creates. Digital money also creates transparency, prevents fake printing, hoarding and black money. In a sense, it turns money into a force that it originally is rather than a physical entity. I am just waiting for the next logical step, to turn currency itself into a digital wallet. So no notes, free and easy circulation of money, no hoarding without accountability and thereby less misuse.
The other thing is the stock market, which deals with speculation. Buying and selling shares based on speculation is another dangerous way to handle money. It makes the money force very unsteady and volatile. Besides, it instils greed and fear and starts centering the consciousness around money. Mutual funds are a slightly better process.Β
Ideally, money should not be used for either stacking and hoarding or for making more money. It should be used in ventures that make the world a better place and the returns or profits help it to grow.Β
A Capitalistic or SocialisticΒ Communist approach needs to be replaced with an equitable distribution of wealth and a considerable change in the laws of inheritance. Regardless of the amount earned by the parent, the children should receive only the amount that they need to give them an initial headstart, a boost, and not a blind distribution of everything. The extra amount earned should go into projects helpful for the good of mankind.
Profiteering should be replaced by simply making enough profit to keep the business growing, taking care of the household, engaging in welfare activities for the good of all and not just multiplying money. Of course, dealing with money should be meticulous and honest to the penny.
In certain ways, all this is happening. Politics is much more impervious.Β
Affectionately,
Alok Da
