World Economic Forum is the International Organization for Public-Private Cooperation. Each year it assembles elites in Davos – Switzerland - to reflect on issues that touch each human and try to formulate solutions and come up with actions plan.
One of the themes covered this year under the Sustainable Development Goals label was “wealth”. Wealth touches each one of us directly or indirectly.
The video is long - at over one hour. https://youtu.be/Fo_Sxxj7w_U
The discussions by the experts focused on wealth of nations (countries) and corporations. Wealth definition was taken as “an abundance of valuable possessions or money”.
So for countries the discussions touched on GDP. first thought of in the 1600s and since the 1900 GDP became the measures accepted by most nations, adapted to include (PPP) purchasing power parity and Gini co-efficient.
For corporations the accepted objective of only shareholders value was challenged and other methods of calculating value were proposed and studies recommended.
This “top down” approach to make changes to the way the world is running and how wealth is measured is welcome. Whilst the private, public organisations and states get on with their agenda, each one of us also has a role to play. One of our life focus should be to make changes happen from a “bottom up” approach as well.
When the “top down” and the “bottom up” become intertwined is when changes will accelerate. Starting point is for both to agree on redefining “wealth”.
The origin of the word “wealth” is from an Indo-Europeen word “weal” which means “wellbeing” and “welfare”. As we as humans have turned that meaning to become “short termism”, we are conscious and must push back to return to a social development measure.
So one “bottom up” action is to encourage individuals and families to incorporate social development goals in their search for financial independence.
This is my start-up focus! If you are in the same state of mind as me then connect.
Let me wish you a great week planning your social development financial independence and that of your loved ones.