How To Fix The Global Economy?

I'd like to tell you a story it's a recollection of the very recent event in Seattle Washington where I'm from the year 2018 to be exact you see Seattle is home to a very influential multinational corporation named Amazon and Amazon has very quickly become one of the world's wealthiest companies of all time it did so by modernizing the way that we buy and sell goods via the World Wide Web within only a few short years and what seemed to me like the blink of an eye Amazon went from selling books to anybody that would have them to selling just about everything that you would expect to find in a traditional department store and they've done it all remotely by working with private shipping companies to take the order goods from a warehouse to your front door usually within just two or three days from when he ordered it needless to say this business model has been stupendously successful and it's revolutionized the way that we trade and what we rather arrogantly call the first world society this of course led to a great deal of economic growth in the cities surrounding Amazon's headquarters which had expanded to cover most of what we again rather arrogantly refer to in the West as the civilized world it's all been rather fascinating to watch anyways so due to its economic prosperity and progressive nature to help those in need more than your average city in the USA Seattle became somewhat of a sanctuary for homeless people around the country in only a few years this of course created a great deal of strain on the city's resources as accommodating for and cleaning up after what is largely considered to be a population of mentally ill and underprivileged citizens well that can take its toll much to the consternation of everyday workers just trying to get from their homes to the office and from their office to their homes nothing it seems is more disturbing to the nine to five commuter than passing by a homeless encampment ridden with tents garbage and rather uncleanliness it e-government which is of course deeply troubled by the local homeless problem has been anxious to come up with a fix so as a result the residents of Seattle are bombarded with a great many taxes to fundraise a solution for that problem and all the others which includes but isn't limited to a terribly dysfunctional public transit system being one of the wealthiest corporations in the world and headquartered downtown a new idea arose amongst the City Council to impose what they were calling a head tax on Amazon which is essentially an additional tax on the company for every employee that it maintains now if you're a practitioner of business yourself or you've happened to study basic economics you can see how this would cause a great deal of drama and while it most certainly did the opposition to the head tax was so great that it was abruptly repealed resulting from a most disapproving reaction by the amazon corporation who after all is very important to the local economy but interestingly the local voters and taxpayers were largely displeased by the decision to impose a head tax for many reasons most importantly because there was a fear of job loss and a potential for economic collapse resulting from the devaluation of the surrounding housing market etc the City Council and the mayor felt that they were justified in imposing an additional tax on Amazon because rather scandalously they'd managed to avoid paying most of their share of federal taxes for fiscal year 2017 and after all they are a booming company with more money than they can count so why shouldn't they lend a hand to help alleviate some of the city's struggles and therein lies the core of the issue and what led me to do this recording about the global economy and how to go about fixing it you see on one hand this was a rather monumental political failure on the part of the city government but on the other it highlights a complete socio-economic failure that is causing the rapid collapse of capitalist societies worldwide well that's a very serious claim and if true the most serious of issues in need of urgent attention allow me to explain in modern society we have the culture of individual nations they represent heritage dating back for thousands of years we also have the culmination of all those societies interacting with each other through the political sphere through trade and most notably through the infinite network inculcating millions of entries per minute between human beings around the world that we have since come to call the internet and thus for the very first time humanity has taken its first steps toward a true planetary form of existence and the means through which we have chosen to deal with one another is a process known in English as money or currency while this strategy dates back to a considerable long time ago it's recently become the most prevalent means of quantifying value worldwide not just of ourselves by measuring our net worth or annual income but also the various nouns that populate the world be they homes means of transport like bikes or cars food and water even the various plants and animals throughout the ecosystem have a real monetary value and it's all changing all the time it changes by the day even the hour and the whole system is based on a philosophy that we call economics one thing that I would hope you'd learn rather quickly upon studying economy is well that none of it is real in the traditional context it's all an enormous heap of mumbo-jumbo consisting primarily of numbers and record-keeping all of which are imaginary all that really exists in the economy is its most fundamental principle of supply and demand I want that and you've got it so how much will it cost well you give me a price and I tell you it's too high so I go to someone else who's got what I want and I buy it from them but what really determines the price of what I want is how much there is and how much is there why do I want it in the first place is it something that I want or is it something that I need and is it possible for you to really own something that I need by answering these questions you will gradually come to realize what the economy is and how it works and while every nation has its own economy with a set of rules that vary just a little bit from border to border the principles of monetary exchange are constant no matter where your feet are planted and when you spend time with those without plenty or you've become one yourself you will also realize importantly that the economy is not fair no matter how hard we may try in the present or in the future to change the rules to create a more balanced system there will always be enormous discrepancies in wealth because some people perhaps even a majority in the year 2018 will undoubtedly confuse wealth in a monetary sense with wealth in a complete sense well yes these are just words but let me ask you truly what is your time worth how much is it worth now you might say my place of work I earn twenty dollars an hour or I make fifty dollars maybe five thousand dollars a month or two hundred dollars week in a different part of the world they'll give you entirely different numbers in a currency that is based on an entirely different scale and for some people they have to die before they understand that the numbers are just that they're numbers and so I ask you again what is your time worth do you value your time the little moments of your fleeting life with imaginary numbers or are you capable of understanding that these numbers represent merely an inadequate unit of measure designed only as a means of trade and there you were planning your entire life up into this point around it dedicated to the pursuit of it your sense of worth is derived from it your livelihood depends on it how did this happen why have we chosen to function this way well this discussion is perhaps one better suited for humanity more adapted to present-day earth that is if we're able to prevent the various of money field industries today from destroying our environment tomorrow now I'll assume by now since you're still listening that you have at least an intermediate understanding of economics how to make money and thus you more or less understand its power over the often feeble human mind and if you're anything like me and you most certainly are you've toyed with the notion of hoarding as much of it as you can for yourself by taking advantage of those less fit in today's economic landscape because make no mistake ladies and gentlemen that is ultimately how a capitalist or a free-market society operates we often tell of dystopian futures where machine has come to subjugate man what they don't tell you in those stories is that this has already come to pass I don't mean machine in the traditional senses is something that's mechanical or made from steel the they're a program with a body not tangible but has nevertheless taken form and we call them corporations or governments true they may be represented by human beings but you'd be foolish to believe that the humans are in charge you see any time that a person starts a business and their intent on survival within the realm of business and monetary exchange then they have at that point created an entity which are legal systems recognized similarly and oftentimes with greater advantages and less liabilities than actual human beings and unlike people the various businesses corporations and you mustn't forget governments they don't have a life expectancy they can in theory live forever or at least as long as people uphold and adhere to them so the founder and CEO of a corporation is eventually replaced by another and it hires as many people as it wants to or as it can and its directive is not unlike ours survival and a corporation or a government they don't have to eat they don't have to drink clean water they just have to make money and they do so by using human energy human creativity human time this again is equally true of the various governments of the world which are really just corporations that own and operate a specific landmass instead of CEOs they have presidents and prime ministers instead of executives they have legislators and representatives and instead of hiring people and paying them for their time and energy governments rather disturbingly simply make claim to infants that are born within their designated borders and assign them names and numbers for ever ascribing those unsuspecting babies to a lifetime of servitude loyalty and most importantly taxation and you didn't even get to do a job hunt or sit down for an interview you were simply enlisted and many of you all the while unaware that this commitment has taken place and happy of your position in a monstrously large and oppressive machine this is the way that the world is today and frankly there doesn't have to be anybody at the top of a pyramid for this to transpire all that's required is your conformity submission and a belief that the system is necessary for modern human civilization to take place now this I hope you can see it's not true we don't have to live out our lives in service to machines but it is nevertheless the situation that we find ourselves in so back to the title of this video how are we gonna go about fixing all of this see first you must remember that people created governments and businesses to better their lives to create civility and order we enacted government and we are as a group of animals open to the idea of leadership to oversee trade and commerce so we all have what we need for example because of business there exists the possibility for every man woman and child to fall asleep each night with full bellies despite never once having grown their own food supply because the farmer earns his wage through selling his crop the delivery service theirs by shipping it the grocer earns their wage by selling it and so on and so forth through the various means of trade and commerce the economy is slowly realized the truth is we've always lived in a world of Plenty and yet there exists still a very real tendency for the majority of available wealth within the monetary system to end up in the hands of a very few whether you're talking about ARC's pharaohs emperors entrepreneurs or bankers the end result is the same a handful of people end up possessing enormous wealth while children go hungry and good food finds its way into the trash bin and for a species that touts love and compassion as its most essential and powerful attributes we have fallen very short indeed of fulfilling our commitment to look after one another so circling back to the example of the Amazon corporation the founder and CEO Jeff Bezos has recently been named the richest man in the world the first cent a billionaire in history as they put it with a total net worth of a hundred and twelve billion dollars while only ten percent of Americans are worth just one million dollars and so it's easy to see why the city government would feel justified in taxing such an enormous ly wealthy person a few pennies to help the homeless after all what's a man to do with a hundred and twelve billion dollars really a private jet only costs a few million a yacht a few hundred million how many homes jets and yachts well mr. Bezos need to acquire before he feels like sharing some of that money with hungry people all around the world how much caviar and champagne can a person indulge in before they're satisfied and just what is it about certain people that just seem to want to own the world I will tell you that there are many of us smarter than the top five billionaires in the world and possessing still the ability to work equally as hard but what these highly intelligent hard-working people don't possess is the greed in their heart necessary to hoard all that money because just when they might be generating enough income to make the four list they give it all away that's it that's the secret I'm not telling you anything that you don't already know but the reason for this video is to highlight the difference in thinking between two very different approaches as if to sum it up in one sentence the anomaly of binary thinking one of the methods works and the other one doesn't so let's take you for example are you the sort of person that sees the injustice is in the world and the greed of man's heart as a force of evil and something that must be opposed and thereby you elect aggressive leaders that through the use of government are gonna force these individuals to share so that the ghettos can feel some reprieve are you the sort of person that believes that these corporations need to be forced into submission knowing full well that they'll just adapt to survive and find other means to collect all the money they can after all Jeff Bezos using him only as an example acquired his wealth as far as we can tell by following all of the rules that people and governments impose on businesses so what is why can't we just get this system to work and to those people I would remind you that it does beyond the shadow of a doubt the system works how else would you imagine it how else are billions of people on earth going to coexist trade and go home to live in the privacy of their home every day it does work because if it didn't then none of us would be here it's always worked that's the only way life on this planet happens because the total system be a cosmological or monetary continues and therefore you do but if you want to improve the global economy okay let's just presume that such a thing can in fact be done then you first must diagnose what you perceive to be the problem the root of the cause okay it's not the government it's not the corporations it's not nature or the natural resources you know damn well what the problem is the problem is you and me and the way that we make sense of it all so how does one confront the problem of greed you can't force someone to share and if you do then you become something worse yourself tyrant authoritarian no matter the motivation if you kick down the door and threatened to lock someone away if they don't pay their taxes you're even worse than a person suffering from the illness that mr. Bezos has which is wanting to hoard as many resources as he can like some kind of a treasure goblin or something like that and so if you take the approach that you just want a reason with the billionaire please sir won't you share some of that wealth you can donate to this cause or that one look here this child has cancer and can't afford treatment won't you lend a hand the solution I think is not to see mr. Bezos as someone that needs to help us but rather as someone that needs our help the situation of gris heat is not one that anyone desires true they desire power wealth influence and so on but what they find is misery by helping those with the most money realize that they have the most to give back to society for without one there can be no one to sell to we are an essence teaching them how to feel true happiness something so often law in people today and especially those consumed by the pursuit of riches it's as if the man had been laboring on a computer screen for 20 years in pursuit of some lofty goal and all the while forgot why he was pursuing it in the first place and suddenly he's got all this money and nothing left to buy except for more machines of course be them physical or ideological for the purposes of accruing more money the whole thing is madness but therein lies a solution that you're looking for call it generosity philanthropy charity it doesn't make a bit of difference you have to persuade them to see that this is the only reason to pursue money beyond one's basic needs in the first place I'll say it again there's nothing wrong with the system in fact it works beautifully the problem if you want to call it that lies with everything else in the human experience and that is the shadow that we ourselves cast instead of idealizing hip-hop stars top athletes and TV personalities turn your focus instead to the great philanthropists of our time and teach others to do the same then and only then will you begin to see these problems disappear you

  1. I am very pleased to update that 8 days after this upload, Jeff Bezos and his team announced a fund to aid with homelessness and preschool education starting at $2 billion!

  2. Rothschild got most money?! And their money have been inherited many times now.

  3. Dude a Government is not supposed to be anything like a company 🙁 it’s supposed to protect its people and fight for they’re rights and freedoms. This of course doesn’t happen in a capitalistic society 🙁

  4. appreciate you uploading a vid Hengest, interesting as always.
    Having your take on our time's problems is really quite worth the wait.
    Have a Good One and Keep up the great work!

  5. Love you Hengest, but I suggest dropping the contrast and doubling your volume. A bit bright and very quiet

  6. I am so glad I decided to finish this video before I started writing this comment. Those last 5 minutes were GOLDEN.

    I really like your proposal of having good morals. If we lived in a world where everyone was considerate, then the top 1% most likely wouldn't be looked at with such distaste. However, because human beings are prone to various things, and some of us even have greed in their nature, what are we to do? The best I think we can do is hope that the good natured of us reach the top, so that they may help others. We managed it with Elon Musk, and he's been doing wonderful things for humanity with his riches. More people like him are going to reach the top, eventually.

    I will also note that, if you were to visit any sites that report on human progress, the amount of poverty, worldwide, is going down all the time. People are brought out of pure poverty by the hundreds of thousands, practically every day. So even if the richest of us aren't giving away their excess, the world is still getting better for some people in financial peril. Slowly but surely.

    Another awesome video, Hengest. Always good to see one of your uploads. They really get me thinking and it's a fun experience.

  7. U went from Pokemon go on a bike to how to fix the global economy hahahahahahahah. I fk wit you tho none the less b

  8. So… the way to "fix" economy is to have communism. That way no man with greed like Jeff Bezos can emerge since they dont aquire these numbers we call "money".

  9. Yeah, it's got its downside. But, all things considered, it's a pretty good deal. The world has never been so good for so many individuals.

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