Money as a tool
What if money was transparent? Not your little money that barely takes you through the end of the month. And no, not the money that we need to continue living and working. I am talking about the big, big money that no one sees. Money stashed in tax heavens that never re-enters the society or productive economy. Unless a massive tax break is granted by questionable politicians. Money amassed by medieval-like feudal methods.
This raises the question should money be treated as strategic commodity. Say like water and air.
With all of our shortcomings and despite rapid population growth, we have taken (sometimes very slow but successful) measures to protect these commodities. And we have the beginnings of a plan of how to manage better. Can we do the same with big money? Blockchain technology might be helpful. We must rethink and redefine when money stops being private and becomes of public interest. At what point money should work for the benefit of the larger group (society) and not the individual or the legal person as corporations are considered under the law. Small money is subject to limitations. To re-negotiate small money, people usually go on strikes. Small money always has had a minimum and maximum cap. Our salaries are defined by social agreements. Big money on the other hand has always been free to do whatever it wants- travel to Caribbean beaches and Swiss Alps peaks, without a worry or obligation to serve any other purpose but itself.
We can clearly see that in the times of Covid 19, when the burden and financial pressures of investing in strategic needs, is being taken away from the pharmaceutical companies,  they develop vaccine and medication not for financial profit but treatment and betterment. We have a history of doing precisely that in a time of war too.
Why the market is not an indicator of reality on the ground in the real economy?
In the light of latest developments on the stock exchange we can clearly see that when retail investors organize, they can successfully manipulate the stock price of a publicly traded company. The problem is not in the manipulation itself, but the mechanism by which is done. In essence if a group on social media platform is able to drive change in the price of traded stock (which many hedge funds consider to be unfair or unethical) then the question is how is this different from the models, methods and instrument the hedge funds use in their day to day operations. In the light of the last weeks we see that (dying) company is not fairly represented by the value of its stock in terms of performance and profitability, let alone the creation of value to the society. In other words we can see in real time that the market and the stock exchange are a make-belief con used by consolidated private investors and  created with the only intention to extract wealth not through real value creation and performance, but through manipulation. Again the problem is not the manipulation but who and why is allowed to create the afore mentioned manipulation. For years the rich and powerful have been using morally and ethically questionable schemes with the only intention to self enrich without any contribution back to the economy.
As of now people do not have a choice about what and how they consume which keeps the economy status quo going. How to put people in a situations where the only choice is to consume creatively- Creative consumption and conscious capitalism. What is this all about? Conscious capitalism is investment in betterment instead enrichment. Creative consumption is the consumption of goods and services that do no harm but create more jobs and more wealth without the pursuit of maximum monetization and maximum return. Obviously this would have to change the supply chains from global to local. While huge part of the localization will demand automation as a counter measure to loss of jobs we will have to increase contribution and redistribution of resources in order to keep the circle rolling. The people made obsolete by automation will have to be the consumers of the fruits of automation. In other words we have to look of how to protect consumers and enable their spending. All of this while while transitioning to greener practices in order to protect the planet.
How can we use money as a tool for betterment instead of enrichment?