(07) Introduction to changes in the financial system to make the world more equal

Very soon, I will start discussing how I think the financial system should be adjusted in order to get a fairer world, whereby I will try to introduce rules that will allow each individual to have an equal chance in life although each person will be at a different level at the end of their life due to individual choices made. Indeed, as I mentioned before, rich and poor people will always exist, but it should not be due to the existence of an unfair system that focuses on some people who are paid too much while others (sometimes with more useful jobs) receive much less. But, inequality should only exist because decisions made by individual people (e.g. people investing their money wisely will become richer than those who spend all their money, or people who work longer hours will earn more than those who decide life is more than just work).

This series will include changes to the way (some) people are paid; most ordinary people will recognise this as they are paid as I will discuss (e.g. no bonuses anymore because people are paid to do their job and they do not need extra money to do what they should do; if people are not happy with their earning they can always change job. Indeed, there will be enough people who will happily replace them and they might do the job better. Now many people do a job they don't fully understand or a job they hate but they continue because the alternative is a much less paid job.).

These changes might give an answer relating to the immigration problem. Now people travel to other countries because they hope they can earn more for the same work in the other country than in their own. Often this causes irritation by themselves (they don't like their new country) and by the original people (who claim there jobs are taken by foreigners). My suggestions will also remove the need for companies to relocate to other countries to find cheaper employers.

I will discuss how I think work should be reformed so people may accept to work longer (as most of us are living longer we will need to work longer (also the birds have to find food until their last day)). This will include changes to pensions and how to keep them affordable (although I am still thinking about that subject).

As said in an earlier post, rich people may not like these changes because they may think it will lower their way of life. The middle class does not have to fear anything because for them most will remain the same although they may think it will reduce their standards too. The poor will benefit most from this system, but might be fooled by the other groups to believe it will be bad for the economy and thus for them (in the UK employers and some newspapers condemned certain European laws reducing working hours as bad for the economy while around that time a young doctor died in a car crash because he felt asleep while driving after a very long work shift (and who would thrust an operation by a tired doctor?) This doesn't mean people can't work long hours, but only out of free will and not because they are bullied into it).

It may work or not, but society can't continue as it does at this moment.


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