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Why those who give part of their wealth in charity get wealthier

Why those who give part of their wealth in charity get wealthier | Advocating a Wealth Threshold | Scoop.it
Peter C. Newton-Evans's insight:

Benefits of Benevolence:

 

You experience enhanced degree of confidence.You get a larger perspective of life.You start to like openness.You become more dignified and graceful.You overcome greed.You are more at peace with self.You acquire empathy.
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Advocating a Wealth Threshold
There is a poverty threshold, but how about a wealth threshold to save democracy, economic stability, the environment, cultural diversity, and much more!
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Resolving the Economic Dilemma

Resolving the Economic Dilemma | Advocating a Wealth Threshold | Scoop.it
Peter C. Newton-Evans's insight:

A social dilemma occurs when everyone doing what a social system expects them to do causes it to collapse. In other words, what causes the breakdown is the way the system itself is structured.

Today's predominant brand of industrial capitalism, with its unbridled accumulation, is one such dilemma. Unchecked 'free' market competition leads to the concentration of ever more resources in fewer and fewer hands, and the ensuing dynamics increasingly stress the system until it snaps.

Capitalism itself, which in essence only means private ownership of the means of production, is not the issue here. What is being questioned is a system that enables an individual or corporation to accumulate so much wealth and power that they not only significantly influence the market, but also sway the policies, laws, conscience, and monetary systems of entire national governments in their favor. This is what needs to be checked by setting wealth thresholds beyond which there can be no passing.

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13 maps about America worth bringing up at dinner parties and/or first dates

Did you know that Texas' economy is the same size as Australia's? Now tell your date.
Peter C. Newton-Evans's insight:
See especially:1) More than half of America's wealth is in this circle2) … and more than half its GDP is in these tiny orange areas:5) California is as rich as Italy, with 11 million fewer people6) The West, upper Midwest, and rural South are the happiest places in the United States8) America spends eight times more on defense than Russia10) Delaware, Maine, North Dakota, and Alaska don't have any billionaires
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The age of entitlement: how wealth breeds narcissism | Anne Manne

The age of entitlement: how wealth breeds narcissism | Anne Manne | Advocating a Wealth Threshold | Scoop.it
Anne Manne: As people get richer, they are more likely to feel entitled, to exploit others, and to cheat. That extends to politics too
Peter C. Newton-Evans's insight:

Extreme wealth is bad for the very wealthy themselves, not just for society as a whole.

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$10.10 Minimum Wage Would Lift 4.6 Million Out of Poverty, Study Says | TIME.com

$10.10 Minimum Wage Would Lift 4.6 Million Out of Poverty, Study Says | TIME.com | Advocating a Wealth Threshold | Scoop.it
As Congress debates the increase, a new study shows the real-world impact of raising hourly wages
Peter C. Newton-Evans's insight:

Anything that can be done to reduce the gap between extreme wealth and extreme poverty would be most welcome, even this simple measure.

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Capitalism isn't working the way it should. Thankfully, we have options.

Capitalism isn't working the way it should. Thankfully, we have options. | Advocating a Wealth Threshold | Scoop.it
They say if it ain't broke, don't fix it. Well, it's broke.
Peter C. Newton-Evans's insight:

The Next System Project emphasizes that the world's problems cannot be solved merely through individuals correcting their personal behavior. Rather, the major problems are systemic and, as such, require systemic transformations.

 

This does not mean that adjusting personal behaviors to collective well-being is misguided, but rather that our main efforts should be oriented towards changing the system we are part of, not merely changing our individual behaviors.

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Why we need to rethink capitalism

Why we need to rethink capitalism | Advocating a Wealth Threshold | Scoop.it
Paul Tudor Jones II loves capitalism. It's a system that has done him very well over the last few decades. Nonetheless, the hedge fund manager and philanthropist is concerned that a laser focus on profits is, as he puts it, "threatening the very underpinnings of society." In this thoughtful, passionate talk, he outlines his planned counter-offensive, which centers on the concept of "justness."
Peter C. Newton-Evans's insight:

Using "justness" instead of "justice" diverts attention away from seeking legal loopholes and towards seeking fairness in the market. Market pressures, based on public dissemination of social, environmental and other "justness" metrics can have a great impact, but it takes people who care enough to make sure these metrics reach households on a mass scale.

 

Let us not forget capitalism only means that individuals can possess their own means of production, not that those means can grow out of all proportion. In fact, increasing concentration of the means of production in fewer and fewer hands is what is keeping today's twisted version of capitalism from working as well as it should and could.

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A Rogue Reporter Takes on the Masters of the Universe

A Rogue Reporter Takes on the Masters of the Universe | Advocating a Wealth Threshold | Scoop.it

"The media would have you believe that there is no racket, that it’s purely an accident that we live in a world where 85 people — 85 people! — own half the world’s wealth while more children die of starvation every year than died in the Holocaust. Of course it’s not an accident, a mere quirk of history — it is the result of a huge injustice, the policies of a giant mob. To help our species and planet survive it is necessary to shake off the hypnosis and see the racket for what it is.


"They know who they are; it’s time to blow their cover."

Peter C. Newton-Evans's insight:

The de-essentialization and de-naturalization of extreme wealth and its anti-democratic power is an essential step towards preparing the voting public to accept the fact that a wealth threshold is not only a practical possibility but also a vitally necessity.

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Robert Reich: Economic redistribution is our only hope

Robert Reich: Economic redistribution is our only hope | Advocating a Wealth Threshold | Scoop.it
The former secretary of labor explains why new technologies have rendered the 20th century economic model obsolete
Peter C. Newton-Evans's insight:

Assuming that redistribution is the key, it cannot rely entirely on taxation. It would have to include de-concentration not only of purchasing power, but also of the means of production, market share, media access, political power, higher education, quality health care, and much more.

 

Today's form of unbridled capitalism is the antithesis of redistribution, as it tends towards increasing concentration of all forms of influence and power in fewer and fewer hands, given the current model in which the more you have the easier it is to get more.

 

We need to build de-concentration of all forms of influence and power into any new win-win economic model, recognizing the inherent long-term diseconomies of scale at the macro level. No economic model will be successful without a parallel reform of all other social structures, including but not limited to our current win-lose political structures.

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Domino Chain Reaction (short version) - YouTube

A domino can knock over another domino about 1.5x larger than itself. A chain of dominos of increasing size makes a kind of mechanical chain reaction that st...
Peter C. Newton-Evans's insight:

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Four Horsemen - Feature Documentary - Official Version - YouTube

FOUR HORSEMEN is an award winning independent feature documentary which lifts the lid on how the world really works. 

As we will never return to 'business as usual' 23 international thinkers, government advisors and Wall Street money-men break their silence and explain how to establish a moral and just society. 

FOUR HORSEMEN is free from mainstream media propaganda -- the film doesn't bash bankers, criticise politicians or get involved in conspiracy theories. It ignites the debate about how to usher a new economic paradigm into the world which would dramatically improve the quality of life for billions.

"It's Inside Job with bells on, and a frequently compelling thesis thanks to Ashcroft's crack team of talking heads -- economists, whistleblowers and Noam Chomsky, all talking with candour and clarity." - Total Film

"Four Horsemen is a breathtakingly composed jeremiad against the folly of Neo-classical economics and the threats it represents to all we should hold dear."
- Harold Crooks, The Corporation (Co-Director) Surviving Progress (Co-Director/Co-Writer)

Peter C. Newton-Evans's insight:

Although the film does not directly state the need for a wealth threashold, it does provide ample grounds for it, and is a must-see for all those interested in this issue. It is a comprehensive documentation of why the current system is not working and why it has to change or risk global economic collapse.

 

Subtitles available in several languages!

 

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What the Social Progress Index can reveal about your country

What the Social Progress Index can reveal about your country | Advocating a Wealth Threshold | Scoop.it
The term Gross Domestic Product is often talked about as if it were “handed down from god on tablets of stone.” But this concept was invented by an economist in the 1930s. We need a more effective measurement tool to match 21st century needs, says Michael Green: the Social Progress Index. With charm and wit, he shows how this tool measures societies across the three dimensions that actually matter. And reveals the dramatic reordering of nations that occurs when you use it.
Peter C. Newton-Evans's insight:

The worst part of this story is that GDP, by averaging out yearly income, only measures growth by big business. The Social Progress Index is a fabulous tool to ensure that the 40-60% poorest of a country get their needs met. Only economic stability can result from that!

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The Coming Revolution: Evolutionary Leap or Descent Into Chaos and Violence?

The Coming Revolution: Evolutionary Leap or Descent Into Chaos and Violence? | Advocating a Wealth Threshold | Scoop.it
After extensive research, it is clear that we don't have much time left before we descend into chaos. If we want to change things through nonviolent methods, the window of opportunity is closing f...
Peter C. Newton-Evans's insight:

"A revolution is coming - a revolution which will be peaceful if we are wise enough; compassionate if we care enough; successful if we are fortunate enough - but a revolution which is coming whether we will it or not. We can affect its character; we cannot alter its inevitability." (Robert F. Kennedy)

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CEOs Make WAY More Than ANYBODY Thinks - YouTube

Published on Sep 27, 2014

"Rumblings of discontent about executive wages, the 1 Percent, and wealth gaps know no borders. And neither does fierce debate about income inequality in general. But until now, it's been relatively unclear how much people think CEOs should really make compared to other workers on a global scale.

In their recent research, scheduled to be published in a forthcoming issue Perspectives on Psychological Science, Chulalongkorn University's Sorapop Kiatpongsan and Harvard Business School's Michael Norton investigate "what size gaps people desire" and whether those gaps are at all consistent among people from different countries and backgrounds.

It turns out that most people, regardless of nationality or set of beliefs, share similar sentiments about how much CEOs should be paid -- and, for the most part, these estimates are markedly lower than the amounts company leaders actually earn."* The Young Turks hosts Ana Kasparian, Ben Mankiewicz (Turner Classic Movies) and John Iadarola (TYT University) break it down.

*Read more here from Gretchen Gavett / The Huffington Post:
http://www.huffingtonpost.com/gretche...


Via Khannea Suntzu
Peter C. Newton-Evans's insight:

Close on the heals of curbing the insidious effects of speculation and unlimited corporate growth in volatizing the world economy, setting a reasonable scale for pay grades is the next most important way to achieve economic stability. 

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OPINION: We need a new economic system | Al Jazeera America

OPINION: We need a new economic system | Al Jazeera America | Advocating a Wealth Threshold | Scoop.it

"...this idea that we urgently need to democratize ownership of the economy is not really all that “radical” in the normal sense. It does not reject all private ownership; it merely demands that more people share in it, and that the public undertake new ownership strategies. Even in the recent flood of proposals for reform and regulation, elements of such a next system shine through. Economist Joseph Stiglitz’s “Rewriting the Rules” report for the Roosevelt Institute, for instance, suggests that a public option for mortgages could do much to address the deficiencies in a home-financing landscape where public welfare too often bows to private profit. Stiglitz also recommends a public option for savings banks, organized through the post office, and a public option in health care (“Medicare for all”). These and other kinds of public enterprises, designed to be owned democratically by the nation as a whole, would not aim simply to regulate the consequences of the profit-maximizing behavior of corporations — they would aim to displace them.

Further suggestions in other documents go straight to the heart of the relationship between labor and the ownership of capital. Remarkably, democratic socialist Bernie Sanders, in his presidential campaign economic agenda, and former Treasury Secretary and centrist’s centrist economist Lawrence Summers, writing inside the Beltway for the Center for American Progress, agree that worker ownership, including worker cooperatives, can and should be encouraged through federal policy initiatives."

 

Peter C. Newton-Evans's insight:

While it is great to see this dialogue opening up, it should not be framed in the old Democrat versus Republican dichotomy. What is good for the nation is good for all - both rich and poor - Democrats and Republicans. Perhaps part of the problem is precisely the false dichotomies that prevail in today's party political system - erroneously made synonymous with democracy - and the antiquated concepts of power, as something to be wielded over and against others, on which it is based.

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Monsanto's Government Orgy | Brainwash Update - YouTube

"Abby Martin takes a closer look at the incestuous relationship between the White House and Monsanto, by calling out Romney and Obama's longstanding ties with the company."

Peter C. Newton-Evans's insight:

Just one more example of how extreme wealth is destructive of democracy.

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Princeton Concludes What Kind of Government America Really Has, and It's Not a Democracy

Princeton Concludes What Kind of Government America Really Has, and It's Not a Democracy | Advocating a Wealth Threshold | Scoop.it
What kind of oligarchy? As Gawker's Hamilton Nolan explains, Gilens and Page's findings provide support for two theories of governance: economic elite domination and biased pluralism. The first is pretty straightforward and states that the ultra-wealthy wield all the power in a given system, though some argue that this system still allows elites in corporations and the government to become powerful as well. Here, power does not necessarily derive from wealth, but those in power almost invariably come from the upper class. Biased pluralism on the other hand argues that the entire system is a mess and interest groups ruled by elites are fighting for dominance of the political process. Also, because of their vast wealth of resources, interest groups of large business tend to dominate a lot of the discourse. 

In either case, the result is the same: Big corporations, the ultra-wealthy and special interests with a lot of money and power essentially make all of the decisions. Citizens wield little to no political power. America, the findings indicate, tends towards either of these much more than anything close to what we call "democracy" — systems such as majoritarian electoral democracy or majoritarian pluralism, under which the policy choices pursued by the government would reflect the opinions of the governed.
Peter C. Newton-Evans's insight:

Establishing a wealth threshold would be a big step towards achieving true democracy, not only in the USA, but in all countries around the world.

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3 Ways Humans Create Poverty

3 Ways Humans Create Poverty | Advocating a Wealth Threshold | Scoop.it
Poverty isn't just a fact of nature. We made it happen, and we can fix it.
Peter C. Newton-Evans's insight:

How can we change our economic system in such a way that it no longer creates poverty -- but rather well-being -- for the masses of humanity?

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The Perfect Salary for Happiness: $75,000

The Perfect Salary for Happiness: $75,000 | Advocating a Wealth Threshold | Scoop.it
The study, which analyzed Gallup surveys of 450,000 Americans in 2008 and 2009, suggested that there were two forms of happiness: day-to-day contentment (emotional well-being) and overall “life assessment,” which means broader satisfaction with one’s place in the world. While a higher income didn’t have much impact on day-to-day contentment, it did boost people’s “life assessment.”

Now we have more details from the study, conducted by the Princeton economist Angus Deaton and famed psychologist Daniel Kahneman. It turns out there is a specific dollar number, or income plateau, after which more money has no measurable effect on day-to-day contentment.

The magic income: $75,000 a year. As people earn more money, their day-to-day happiness rises. Until you hit $75,000. After that, it is just more stuff, with no gain in happiness.
Peter C. Newton-Evans's insight:

Other studies also suggest that beyond the 'happiness threshold", additional wealth actually has a deleterious effect on individual or family quality of life and -- therefore -- overall happiness.

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How equal do we want the world to be? You'd be surprised

How equal do we want the world to be? You'd be surprised | Advocating a Wealth Threshold | Scoop.it
The news of society's growing inequality makes all of us uneasy. But why? Dan Ariely reveals some new, surprising research on what we think is fair, as far as how wealth is distributed over societies ... then shows how it stacks up to the real stats.
Peter C. Newton-Evans's insight:

I especially like that he included the concept of an "action gap" and how to address it.

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Economic Inequality: It’s Far Worse Than You Think

Economic Inequality: It’s Far Worse Than You Think | Advocating a Wealth Threshold | Scoop.it
In a candid conversation with Frank Rich last fall, Chris Rock said, "Oh, people don’t even know. If poor people knew how rich rich people are, there would be riots in the streets." The findings of three studies, published over the last several years in Perspectives on Psychological Science, suggest that Rock is right. We have no idea how unequal our society has become.
Peter C. Newton-Evans's insight:

I don't think rioting is the answer. Studies are showing that extreme wealth is bad for both the poor, the middle class, AND the extremely wealthy. Setting a wealth threshold through progressive taxation all the way up to 100%, limiting inheritance, taxation of speculative investments, progressive taxation of capital increases, limiting share percentages, controlling companies controlling other companies, and many other proposed and proven measures is... well, it's just good, solid economic policy.

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Can Capitalism Save Itself?

Can Capitalism Save Itself? | Advocating a Wealth Threshold | Scoop.it
Today's pop quiz involves oxymorons, those often amusing contradictory two-word expressions like jumbo shrimp, amicable divorce and Fox News. Okay, which of the following oxymorons have gained favor within the higher ranks of finance and politics: a.) Moderated democracy b.) Humanitarian intervention c.) Benevolent despot d.) Inclusive capitalism e.) Compassionate conservatism. If you guessed d.) Inclusive capitalism, you're correct.
Peter C. Newton-Evans's insight:

In essence, capitalism only means that individuals can own the means of production. It does not necessarily mean excessive accumulation of those means of production. Inclusive capitalism would imply a more equitable distribution of the means of production, so would first require setting a threshold on their accumulation. Are we up to the task?

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As inequality soars, the nervous super rich are already planning their escapes

As inequality soars, the nervous super rich are already planning their escapes | Advocating a Wealth Threshold | Scoop.it
Hedge fund managers are preparing getaways by buying airstrips and farms in remote areas, former hedge fund partner tells Davos during session on inequality, writes Alec Hogg
Peter C. Newton-Evans's insight:

Isn't the growing fear of a lashback against soaring inequality reason enough to level off the playing field for once and for all?

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Plants talk to each other using an internet of fungus

Plants talk to each other using an internet of fungus | Advocating a Wealth Threshold | Scoop.it

"The more we learn about these underground networks, the more our ideas about plants have to change. They aren't just sitting there quietly growing. By linking to the fungal network they can help out their neighbours by sharing nutrients and information – or sabotage unwelcome plants by spreading toxic chemicals through the network."

Peter C. Newton-Evans's insight:

The science of ecology is portraying a new view of cooperation in nature (albeit still tainted by old adversarial worldviews) that are challenging our former assumptions about the "law of the jungle" as being based on a win-lose competition for scarce resources. The new abundance paradigm (the more I contribute, the more there is for everyone, including myself) shows promise for a new basis for reorganizing our society in more win-win terms.

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Will you still have a job in 2025? The alarming rate at which jobs are being disrupted | NewWorldOfWork.co.uk

Will you still have a job in 2025? The alarming rate at which jobs are being disrupted | NewWorldOfWork.co.uk | Advocating a Wealth Threshold | Scoop.it

A recent MIT Technology Review reveals an alarming trend. Since the early 2000′s and increasingly since the financial crisis of 2008, the levels of employment have decreased even though productivity has increased over the same period.

 

Erik Brynjolfsson and Andrew Mcfee call this the “great decoupling” of productivity and employment. Historical trends show that as productivity increases so too does employment and the wealth of nations. Since WWII, increases in productivity have been tracked closely by increases in job creation. However, recent figures show that something new is happening as productivity continues to increase but employment flatlines.

 

The culprit McAfee and Brynjofsson argue is the impressive advances in computer technology that is changing everything not only in manufacturing, clerical and retail work but also in professional services such as law, education, medicine and financial services.

 

For anyone working in agriculture and manufacturing, that machines, software, automation and robots can replace people may seem obvious, but today we are seeing the emergence of a new trend: The information technologies that make our jobs safer, easier and boost productivity are now also reducing the demand for many types of knowledge workers.

 

Although not clear cut, there is a growing pool of evidence to suggest that advances in artificial intelligence, big data analytics, storage capacity and processing speeds mean that knowledge worker jobs previously believed to be safe from machine automation are being destroyed faster than they are being created.

 

Click headline to read more--


Via Chuck Sherwood, Senior Associate, TeleDimensions, Inc
Peter C. Newton-Evans's insight:

We must bear in mind that the the purpose for work is not only economic, in the traditional sense of generating material goods and wealth. The social impact of useful labor is humanly ennobling, while joblessness and boredom are degrading, alienating and dehumanizing.

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Agency Warns About Decline in Access to Education

Agency Warns About Decline in Access to Education | Advocating a Wealth Threshold | Scoop.it
“The benefits of the expansion in education were shared by the middle class, but did not trickle down to less-advantaged families. In relative terms, the children of low-educated families became increasingly excluded from the potential benefits that the expansion in education provided to most of the population,” he said.

Andreas Schleicher, the organization’s director for education and skills, says education can lift people out of poverty but for that to happen “we need to break the link between social background and educational opportunity.”
Peter C. Newton-Evans's insight:

Equal education opportunities is the next largest piece in the process of stabilizing and de-volatizing the economy. As Andreas Schleicher, OECD director for education and skills, says, education can lift people out of poverty but for that to happen “we need to break the link between social background and educational opportunity.”

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How the Rich Rule

How the Rich Rule | Advocating a Wealth Threshold | Scoop.it
Widening inequality in the world’s advanced and developing countries inflicts two blows against democratic politics. Not only does it lead to greater disenfranchisement of the middle and lower classes; it also fosters among the elite a poisonous politics of sectarianism.
Peter C. Newton-Evans's insight:

"The rise of the religious right and, with it, culture wars over “family values” and other highly polarizing issues (for example, immigration) have served to insulate American politics from the sharp rise in economic inequality since the late 1970s. As a result, conservatives have been able to retain power despite their pursuit of economic and social policies that are inimical to the interests of the middle and lower classes."

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