NETWORK ECONOMY, THE FUTURE OF WORLD ECONOMY

Network economy

The future of world economy

Definition of economy in 2020 AC: 

Economy: “Exploitation of nature.” (Term created by mankind to explain, justify the exploitation of natural resources and nature in general)

Economy is a thrilling field of studies. Everybody seems to have an opinion and all swear to be right. Almost like a religion, economic theories are sets of beliefs meant to be imposed on others.

Like Yanis Varoufakis, greek finance minister once said:

“Economy is a belief with lots of equations. It´s the only field where two different Nobel prize winners can have the absolute conviction that the other one is a complete moron. This does not happen in physics or chemistry.”

We have to admit that criticism on economists is founded. The track record of most economists is poor if not mediocre but we still see them on television, newspapers, etc lecturing us on what to do.

The thing is that they can be right and wrong at the same time, the difference lies mainly in the time aspect. Economic measures for the short run will probably cause economic distress in the long run.

However with today's urgency for news and results, winners and losers are measured by the amount of money that was accumulated. Money is the measurement scale.

The accumulation of capital could have been an excellent indicator for right and wrong, was it not for the fact that the system is rigged. As long as money creation remains in custody of a handful of entities, money is not the best way to measure economic success. 

Besides the fact that the actual money creation scheme is fixed, there is a much more important issue that challenges the money based economy, nature.

Interest rates, inflation, growth, all important aspects of the financial based economy act as if natural resources were abundant and limitless and nature would not be affected by the actual production model.

Reality is different and although the system we have lived in has been ruling for more than a century, it seems to have reached its peak if not already passed it.

Modern society demands a new system where the individual and his social network are free and can prosper without being dependent on a centralized, anonymous power structure.

Globalization has created these anonymous, centralized powers that little by little have imposed their will onto countries for their sole benefit. 

This has generated an accumulation of wealth for a few and annihilated any development possibility for the majority. 

However, little by little things are changing and a silent and gradual revolution is taking place. Society is organizing itself to counter the impositions set unto them by corporations and their well paid “Hitmen”, politicians.

Technology, innovation and foremost the growth of Internet use has created a new economic trend, “network economy”.

The solution seems to be local. People are coming together and setting up networks to counter the system. 

That is why the future of economy is set to be the “Network Economy”. 

Big companies will continue to produce advanced technological products for the masses but the survival and collaborative economy (food, beverages, utilities, logistics, etc) will more and more be local. 

New technology will make the exchange of information easily available and the network will contribute with products, ideas, knowledge, services, capital, etc. 

Innovations will gather capital, knowledge and even the first customers from the network.

This trend will have all kinds of consequences that will change the path globalization has taken us to. The accumulation of money will be relegated in favor of wellbeing, social contribution and social security networks. 

Local currencies, banks and even local arbitrage will see the light. Savings and capital will be guarded and invested in sustainable products and services instead of in currencies that the individual does not control. Alternative value holders will naturally flourish and be exchanged among the network participants and some will even be accepted by the majority of networks becoming national or even international currencies.

This will also have consequences for the big inter-governmental organizations like EU, NAFTA, MERCOSUR, ASEAN etc. 

Especially the EU with its legal expansionism will probably have to rethink its rules, directives and regulation policies since they will very soon be incompatible with the reality of the regions or countries they pretend to control. In the long run imposing centralized EU rules on sovereign citizens will show to be impossible if these are meant to impose the law of corporations instead of protecting the freedom and liberties of citizens.

Society is changing and the economic paradigm we were living in is rapidly mutating into a more humane economy.

The powerful will of course not go down without a fight. “Armageddon” and all kinds of “Doomsday” scenarios will be announced, proclaimed and threaten with. They know that their control will be limited by this new economic evolution but the actual system will leave no other choice.

“The old economy is death, long live the economy.”

James Tector

Liberté, Egalité, Fraternité