Money is an agreement, within a community, to use something as a means of payment.

Today, money is an agreement, within a community, to use something as a means of payment.

Sadly, today's money is used mainly as a means of payment rather than a "medium of exchange" which is used in the past.

4 features of (normal) money today:

1) Money is geographically attached to a nation state.
2) Money is 'fiat' money -- created out of nothing.
3) Money is created by bank debt.
4) Bank debt against payment of interest.

1) (Normal) Money creates a bond between countries divided by an invisible line. This arrange has serious consequences for all participants and value and exchange can change drastically, affecting the lives of many people without their ability to do anything about it.

Political corruption, chronic shortages of food and medicine, closure of companies, unemployment, deterioration of productivity and high dependence on oil have also contributed to the worsening crisis. Currency devaluation makes everything not affordable my the locals and causing a hyper inflation. (Instability of national currencies)

2) Money is created out of nothing -- like magic. Central bank can create money when needed.

3) The dollar started out as a bank loan. When you buy a car and request for a loan, the bank will magically create a deposit in the seller's account and you have to reimburse the loan until it is destroyed.

Debt money derives its value from scarcity relative to its usefulness. The scarcity has to be artificially and systematically introduced and maintained. Central banks play a role in their currency intentionally scarce to maintain relative value and this system in a fiat currency system is not self regulating.

4) Interest is a recent phenomena and the effects (to service the loan) are pervasive and powerful.
a) Interest indirectly encourages systematic competition among the participants in the system.
b) Interest fuels the need for endless economic growth, even when living standards remain the same.
c) Interest concentrates wealth by taxing the majority in favor of the rich.


In the fourth industrial revolution, a bold change to what we know as money is needed, otherwise the concentration of wealth and income inequality would be exponentially worse. Coupled with a climate change, an aging population and uncontrolled population growth, it is true that while money has the potential for abundance, sustainability and peace of mind; it can also engender unending suffering and hardship.



-- Robin Low

Short term financial interests vs long term sustainability

Scientific evidence for warming of the climate system is unequivocal.

Temperature is up.

The planet's average surface temperature has risen about 1.62 degrees Fahrenheit (0.9 degrees Celsius) since the late 19th century, a change driven largely by increased carbon dioxide and other human-made emissions into the atmosphere.4 Most of the warming occurred in the past 35 years, with the five warmest years on record taking place since 2010. Not only was 2016 the warmest year on record, but eight of the 12 months that make up the year — from January through September, with the exception of June — were the warmest on record for those respective months.

Ice sheets are shrinking.

The Greenland and Antarctic ice sheets have decreased in mass. Data from NASA's Gravity Recovery and Climate Experiment show Greenland lost an average of 281 billion tons of ice per year between 1993 and 2016, while Antarctica lost about 119 billion tons during the same time period. The rate of Antarctica ice mass loss has tripled in the last decade.

Extreme events are getting more common.

The number of record high temperature events in the United States has been increasing, while the number of record low temperature events has been decreasing, since 1950. The U.S. has also witnessed increasing numbers of intense rainfall events.

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All said and done, many companies and governments are still carrying on business as normal. Forests are getting chopped down. Vegetation are removed for monoculture crops like Palm Oil, waste are getting vented into the atmosphere or dumped in rivers.

Many of these practices are going on because of short term profits.

Any company that does not need to spend more on disposal will do so, and in the US, the EPA is cutting down regulations to allow more short term profits for companies.

For the convenience of "users" single use plastics are still used and they end up burnt or in landfills. In Singapore, plastic straws, single use plastic bags are still common, and recycling is talked about and not really practiced properly.

Even in 2018, where solar and wind power is getting cheaper, banks are still funding the construction of coal powered plants.

Most people are concerned about convenience than the environment.

If businesses and governments don't act, and the majority of the people are unaware or apathetic to the environment, it is hard to advocate change when the conditions are stacked against you.

-- Robin Low

Money and the fourth industrial revolution.

Money not only has the potential to contribute to global abundance, peace and sustainability if used wisely, but when restricted in its flow, it also has the ability to create unfathomable hardship and suffering.

Money is an important component of our lives. We spend a lot of time earning, saving and spending money. We allocate a lot of mental, physical and emotional energy around the topic of money, but how many of us really knows what is money and where it comes from? Income inequality is becoming a big problem and there are many other problems associated with the current financial system.

However, it is not just the lack of money that is preventing us from addressing current challenges. Rather, it is the limited functionality of our money and monetary system that is the major force behind our present disorders. Many current solutions reside within the architecture of our current monetary system and in out understanding of and agreements around, money.

A hundred years ago, the world was oblivious of pollution and over population. Nationalism, competition, colonization and endless growth is encouraged. These values start to shape the monetary and banking systems we have today.

In the coming of the Fourth Industrial Revolution, we have a monetary system from another age which is starting to look inadequate to solve the challenges ahead. Many attempts at money reform have failed in the past, because they were trying to radically change the official money system in a time where the problems do not seem as obvious as today. But instead of replacing the money system completely, a complementary currency can operate in parallel. With the availability of information technologies, we have what is necessary to implement new money system that allows for money innovation.

Upskilling? How about leveraging on their other soft skills?

I have often heard about people talking about re-training their older staff, then paying them less because they are now "without experience" and starting in a new industry.

Sadly, a lot of experienced workers in many industries have lost their jobs. In many cases, due to the change of direction of the government policies making some industries disappear. They told to get IT skills, programming skills or join the hospitality industry.

Having trained refugees in innovation and technology, I realized that it is much easier said than done. I've worked with ex-prisoners and various other skilled labor on imparting tech skills and unfortunately, a small fraction of them can really make it in the fast moving tech industry.

Looking at the skill sets that these experienced people have, they still have a lot of project management skills, connections and other soft skills that the new start-up industry people do not possess.

A process engineer for a manufacturing company can still add value to the innovation and creativity to a start-up company run by a 20 year old, by adding structure. There may be inter-generational gap in terms of thinking and ideas, but as for diversity, adding other opinions can actually make the company more creative and innovative than just having a few college grads running the show.

Many tech companies, software or hardware will eventually engage larger established companies as clients or a more mature customer base, and having someone who speaks "the language" and help communicate the needs -- can offer good insights on what the customer may actually need.

I see "upskilling" and "skills upgrading" as a good way for businesses to retrench people based on their age and then paying them less on new jobs which they have to be trained for.

There is a need for a better way to move forward -- a need to build empathy and better communication skills in organizations so that they can fully utilize the potential of their workers, but helping the different generations communicate better, valuing experience and outside knowledge which may not seem relevant to the industry initially, but having a diverse background allows different insights which may lead to better framing of problems and better solutions.

There are always people who can code, but a tech company needs more than just coders.

-- Robin Low

Humans make bad decisions -- But don't judge

I was driving along on a congested highway and I saw cars cutting in front of the line, making the same exit I was trying to get off, blocking much of the traffic. Approaching the exit, a large SUV drove up and aggressively drove into my lane to exit the highway.

I blasted my horn and shouted vulgarities at the driver and even flashed my high beams at him. "What an inconsidered person!"

The next day, I was riding my large motorcycle into Malaysia and as I was going through customs, I realized that the lanes were too narrow for my motorcycle. As I could not get pass, I had to reverse out, I blocked the path for many motorcycles and some of them horned at me. Many people looked angry and probably thought I was a jerk. But I kept thinking. "It is not my fault. The lanes were poorly designed and I could not pass."


This actually has a name. Fundamental Attribution Error

The Fundamental Attribution Error is our bias to judge other people differently from how we judge ourselves.

When things go poorly. When we screw up, we tend to believe things happened because of circumstances outside of our control. However, when others fail, we tend to think it is a result of poor choices or someone being a bad person.

I have done this countless times. When I saw a person rebuilding a shop at the base of a landslide -- after a landslide. I tried to tell him that there is no vegetation on the hill and the landslide will push his shop off a cliff again, but he insisted that this place was the easiest place to build as it is flat and has no vegetation on it. I was thinking why can't people think? But could it be the case of lack of choice?


In religion, I often hear stories about priests and abuse in church on the news. Christians are perfectly fine with an imperfect system. I have read about news where a Muslim man raped a teenager, and is forced to marry her and the solution seemed fine with other Muslims. Buddhists monks seemed to get the support of other Buddhists in their countries when they are oppressing people of other religions, and in come cases, incite violence and anti-Muslim riots.

It seems that their acts can be forgiven by their gods, but when it comes to consenting adults having sex, they want to legislate what adults of the same sex do in their bedrooms.


On Social Media, You are either judged or you are invisible.

Many people like to judge others. It can be seen on various posts online. We give ourselves and our friends the benefit of the doubt but not others who do similar things.

When we succeed, we believe it is our hardwork and talent, and when we see others succeed, we sometimes believe it is pure luck or that person is connected in some way...

So why are we wired to make bad decisions and what can we do about it?

Turns out that confidence boost can benefit us and may even serve an evolutionary purpose. Researchers believe it may help us take on beneficial risks as we change our perception of what we’re capable of.

For example, a study of unemployed college grads found those who credited their successes to themselves, were more likely to find a job than students who tended to blame themselves for failures. The researchers’ believe students who viewed things in a more self-serving way were more motivated and optimistic about their futures.

We need to;

1) Embrace the luck of the die.

Yes, sometimes luck play a factor. People do win the lottery. The winning odds are mind blowing, and most of all, you have NOTHING to do with it.

We need to be grateful that good things happen to us, and not that we deserve it sometimes. This same attitude regarding the role chance plays in all our lives can help us cultivate a more unbiased point of view.


2) Build empathy by engaging with others.

When we have zero information and no knowledge about something, our biases and what we read / learn in books, etc. kicks in and we judge based on our biases.

Seeing a woman get into an accident, we make quick judgements based on her sex and not the events that lead up to the accident.

We need to engage with more people and travel and learn about other cultures. Practicing empathy has been found to reduce the fundamental attribution error. Pretending you are in the shoes of the person you are likely to blame makes us less judgmental.


3) Assholes exist.

Well sometimes, people are brought up wrong. And humans are brought up to have fundamental attribution error. It helped in our survival to bolster our confidence and reputation. However, in modern society, this cognitive bias can hurt us and others more than it serves us.

And on Social Media, extreme cognitive biases may be seen as racist or "bully" and one could lose their jobs because of one stupid post which we may regret for a very long time.

But take note. We may be assholes, but we have the ability to evolve and do better. If you get angry without all the information next time, give others the benefit of the doubt and seek out why by putting yourself in their shoes, even if it takes a little effort.

Of course assholes exists, but you don't need to be one sometimes.


-- Robin Low

Short Social Fiction: Adventures of Tupi 49

Tupi felt strange. He was looking at himself lying on the hospital bed -- alone. There were doctors, nurses checking on him from time to time, but no one came to visit. "I guess, in the end, my existence did not matter to anyone." Tupi said.

Tupi watch himself with tubes coming out of his nose and mouth and nurses coming to feed him from time to time using the tubes. Soon, it was morning again, and still no one visited. Tupi can feel himself drifting further away from his body. "I guess this is the end. Working hard my whole life for that HDB flat, and no one remembers me. I think my Eulogy would read - Loner to the end, failing to help, and helping to fail."

Tupi was about to turn and leave, but he saw Suzie coming into his room and sitting beside him. "Tupi, please wake up. I felt really lonely when you left the house to live on your own. I miss you and I did not have a chance to tell you as you were travelling and did not give me new your non-office phone number." She choked a little and cried clutching her Mickey Mouse necklace. "You were the best brother to me and... and you protected me and taught me many things when I was young."

"You bought me this necklace in Tokyo Disneyland when I was 14, and wear this everyday. When we had a fall on your motorcycle, which I got this scar, you never forgave yourself and sold the motorcycle and never rode again. But it was my fault for leaning the wrong way in a corner. The last time I saw you happy was with that bike." Suzie said holding Tupi's hand tight. "After that, you started working and even when we live in the same house, I don't really have a chance to meet you except during New Years and Christmas. You work late everyday and get home tired and sleep all weekend, then you moved out a few months ago. Mary was angry at first as she thought you would be still in the house taking care of me. I did not want you to move, but you seemed finally happy again with your own place. Please don't leave me...."

Tupi paused. He did not realize that his sister cared so much about him. He approached her and tried to touch her but his hands passed through her. "I'm a bad brother, I have never been there, not even for your graduation because I was in the army. Then I focused too much on work. I wanted to give you more space as we live in such a small HDB flat, so I was determined to move out to give you space." Tupi said. "I am too selfish. Even when I was jobless, I wanted to explore more and did not think about catching up with you and Mary. I just wanted to make an impact on someone... anyone, as my life has been insignificant and no one would remember me, but now I know that you cared... I need to find a 1-up or restore from a save point. Please let me try again. I will make it up to you."

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Tupi woke up in a hospital bed. He opened his eyes slowly and his vision was still blurry with a bit of red. He was very uncomfortable with tubes in his nose and mouth. He can feel a throbbing pain on the side of his head and ringing in his ears. "My head hurts... so much." Tupi mumbled and as his vision slowly gets into focus, he realized that he was in an empty room.

Tupi felt slightly nauseous and really tired. tears rolled down his face as he had a sudden feeling of loneliness again. "I guess this is level 10." Tupi thought to himself and could not control the tears rolling down his cheeks. "Oh.. god, this hurts more..." Tupi muttered as his tears entered his bandages and went over some abrasions.

Tupi closed his eyes and waited for the pain to end.

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Tupi heard more voices in his room. He slowly opened his eyes and saw Michael. "Hey! You are awake!" Michael shouted excitedly and ran out of the room. Minutes later, Tupi's sisters came in along with many of his other friends he met while he was volunteering.

"Tupi!" Suzie cried. "Don't leave me!" 

Tupi felt something warm inside. He felt loved and glad that he had many friends and family concerned about him. 

"Here are some information about you on the News." Michael said. "Singaporean survived hurricane in Florida only to hit by a car in Singapore... Seems like your friend Justin was interviewed and he had some photos of you, and local news was about to publish it and soon after, you were hit by that car mirror. It was a hit and run, some people posted the accident, it became viral, and when your story broke, suddenly there are a lot of well wishers. The whole room next door is filled with flowers from well wishers. They also caught the driver."

Tupi was happy, he wanted to respond but started choking from some liquid entering his throat getting into his airway.

"Doctor!" Suzie shouted and the nurses rushed in to check on Tupi. The nurse shined a flashlight into Tupi's eyes.

"He's ok." The nurse said. I will remove the tubes now, since he is awake. Can all of you please leave for a while, I need to work here."

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Tupi made a full recovery. His skull was fractured by a car mirror and went into a coma for 3 days from the impact, but nothing was seriously damaged inside. Tupi was observed in the hospital for 2 more days and many people including numerous strangers came to visit.

Tupi was really touched as he felt appreciated. "I am not alone."

Short Social Fiction: Adventures of Tupi 48

Tupi felt insignificant. He was confused. Can change be driven by one person alone? Do people care about making social impact or more about themselves?

Tupi was in his apartment alone. He looked at some of the photos of himself as he unpacked and he had friends in school, but after he started work, he felt more alone than ever. He did not have much of a social life and did not do anything much besides work.

Tupi checked his emails and for the few weeks he was traveling, he did not receive any emails from any friend or family – just lots of spam emails. Tupi went onto Facebook. There were no new messages or anyone commenting on his posts. (http://www.visiontimes.com/2014/10/21/10-levels-of-loneliness-which-one-are-you-at-now-photos.html) He checked out a meme on Level of loneliness and shook his head. “Wow, I moved into this apartment by myself, and I have no one who I think would help me move.” Tupi said. “That’s level 9/10 loneliness. I wonder if anyone really cared about me, or if I would die alone?”

Tupi check the other rooms in his apartment and still found several boxes that were still packed up in boxes. He found some undeveloped film from his camera and made a list of things to do.

1) Build shelves.
2) Buy new 2m long shower hose.
3) Get nice comfy chair.
4) Need a bucket and mop.
...


Looking at his list, Tupi went online to check for the items and decided to take a trip to Ikea and make some stops along the way for the other items which cannot be found in Ikea.

Tupi plotted out his trip route and efficiently went about his purchase. He would systematically go to the store he picked, make his purchase, take the shortest route to the next store and move on.

Tupi was quite pleased with his progress. As he was waiting at the sidewalk, he crossed out some of the items he bought on his list and saw an e-scooter speeding by and stepped away from the path of the e-scooter, unfortunately, he was too close to the road and as a car was passing by, the mirror his Tupi on the head and everything went black.