Part 1. MODEL ECONOMY This explains that we are not very good at managing the risk / reward equation as embodied in the management of economies throughout history. The consequence of the analysis is to suggest that the traditional levers of fiscal and monetary polices that are used to drive Gross Domestic Product (and its derivative statistical measures) may no longer be appropriate levers to push or pull. They are also now restricted by the tide of regulation and legislation that has swept the world making it very difficult to believe that we can ever create a ‘stable economy’, whatever that entails. It is possible that the repeated failure of the current economic model ‘may no longer be fit for purpose’.
Part 2. MODEL SOCIETY This puts forward a proposal for modeling society - something bigger and more important than a mere economy - that transcends all the millennia that humans have existed. It starts by identifying the ingredients that drive society (people, natural resources, inventions and processes) and then expressing the interaction between them as ‘productive human endeavour.’ It is a ‘model for all seasons’. The risks associated with the ingredients in this ‘model of society’ are set out. A proposition is formulated that what drives society forward is something straight-forward and simple. It is when the rewards outweigh the risks. To assess that balance, topics including spirituality, assessment of whether you act as an individual or are just a member of a herd, and each of our personal reputations are explored.
The conclusion (Part 3) PEACE & HAPPINESS links the two parts together and suggests that there is hope on this journey to an improved quality of life of productive human endeavour. It suggests that it is possible to be at peace with each other and with oneself with little risk for gaining significant rewards.