What the 1% can learn from the 99% — opportunities for a 100% economy

First of all, let me simplify. Karl Marx also achieved great insights by simplifying. So let’s pretend that “the 1%” own everything, make all the profits, accumulate all the wealth. Let’s also pretend that “the 99%” are only workers, get paid hourly wages, and spend all of their money by consuming goods and services.

Of course nothing is this simple — and in particular: there are many sets of 1%ers and 99%ers. If the 99% in the USA decide to buy from the 1% in China, then the 1% in the USA have got a problem. And if the 1% in the USA have a problem, then the 99% in the USA also have a problem (unless they start working for the 1% in China — but then their diet would perhaps need to contain more rice and less hamburger ).

In my opinion — and I’m trying to keep this as simple as possible, so let’s just pretend that there is only 1 group of 1%ers and only 1 group of 99%ers — the most critical point is related to the satisfaction concerning the goods and services being offered in the marketplace. If the 99% believe these goods and services are being offered at a fair price, then they will probably demand them and then there will be enough work to create the goods and services and also enough paychecks to pay for them.

In the past couple decades, the 99% have plain and simple been ripped off — no ands, ifs or buts about it. Now they’re not buying it, because they have lost trust in the shoddy quality they’re being offered — and in many cases for good reason.

If this business between the 1% and the 99% is supposed to work, then both groups have to do something about restoring trust. I believe the 1% need to put all of their cards down on the table for everyone to see. Then they also have to open communications channels and interact on a level playing field with the 99%. Without the cooperation of the 99%, the 1% are sitting ducks — and without doing something to build trust, the prospects for cooperation are dim (at best).

As I wrote yesterday, I think much of economic theory is very one-sided thinking — along the lines of innumerable individuals, each making decisions on their own. I think this may be neat for cute mathematical models; however: in the real world, people actually interact — and that is a good thing. When people can tell each other what they think is good, what they hope and wish for, then that is a huge opportunity to make more people more satisfied — and perhaps even happy. That is an opportunity all 100% should act on!

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