Although the two dominant economic systems of capitalism and communism have been shaped by their impact on individuals, the study and disciplines of economics are generally driven by aggregates, as if it was not the economist’s role to look at individual standard of living or quality of life.
Another perceived impostor in the world of economics is psychology, as if the study of economics is a subject of purely scientific analysis; and yet we know that economics is an art, not a science, and that figures only tell half the story.
Dan Ariely (Author of 'Predictably Irrational: The Hidden Forces That Shape Our Decisions'), wrote: '“Wouldn't economics make a lot more sense if it were based on how people actually behave, instead of how they should behave?”
It is therefore our intention to develop an awareness of how economics and motivational psychology should support disintermediation, so that educational and professional qualifications should support this awareness.
In due course a programme of training and qualifications will be established.
Financial Awareness for Individuals
Making the journey from working for money towards the point where money works for individuals is also critically reliant on appropriate education. This must include an understanding of investment and the ability to understand risk, the role of shared ownership and the associated responsibility for governance. While encouraging an active interest, it should also address how individuals can delegate those responsibilities as they wish.
Knowledge of economic markets and the social framework within which they operate is of course a part of developing this understanding; however enabling people in need, particularly young people, to start adult life with some capital resources and a good financial education is key to effective inter-generational rebalancing.