Spread The Wealth – The “Good Dollar”

eToro

This is the first post of hopefully many more to come.  The mission of this blog is to devise a plan to make the world a better place for everyone.

To fully understand this goal, you should ask yourself two questions:

1.  Do you want the world to be a better place for you and everyone around you?
2.  Do you believe we, as humankind, can make it happen?

The concept relies on the assumption that in an ideal world everyone answers “YES” to these questions.

The concept is still in the works, but can generally be defined as an economic framework that will create more value to the world and humankind than the one currently in place.

Since changing the current framework requires a lot of thought and planning, I’ve decided to start by writing my thoughts, and hopefully together we can form the plan which will change the world for the better.

The framework includes a new currency, which is convertible to all existing currencies. We call it the Good Dollar. This currency is unique in that it should reflect the actual value that has been added to the world, rather than the simple form of economic value which can be generated without adding said equal value to the world. This currency will become a Giffen Good, meaning that as more people use this currency its value will increase which, unlike a normal good, will actually cause more people to use it. The fact that the basic underlying asset (Cash Currency) is violating the law of demand implies that other economic “laws” were misinterpreted.

A philanthropic bank, a non-profit organization, will control the administration of the Good Dollar to make sure every Good Dollar really does add value to the world. Assuming the framework is working, anybody purchasing Good Dollars will actually be making an economic investment, since the value of the currency will continue to rise as more people buy it.

There are a lot of questions yet to be answered to solidify the plan, but people in many areas can lead this change:

  • Followers: Can online followers from around the world lead a significant change in the world?
  • Culture: If you can describe the internet as a culture, can this be the real beginning of internet culture economics?
  • Philanthropy: Can the wealthy, those able to improve the world through financial means, participate in a change for the common good?
  • Academia: Is this framework able to change existing economic framework in academia?
  • Government: Will governments and countries participate in a change that will empower them eventually but might require them to delegate authorities?

All of these groups will want to consider the current economic framework: where did it go wrong, and how can we fix it?

In the following posts I will explore these questions, in the process of making the world a better place, with the intention of advancing humanity to its next step.

About Yoni Assia

Founder and CEO of Etoro.com

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