The financial system of today is designed to help the rich leverage their existing wealth to become richer without enterprising or risking, just by inflating prices of existing assets.
The financial system of the future should help the entrepreneurs leverage their skills to become rich by setting up new businesses and creating new goods, services and technologies.
To achieve that, we need to fix our monetary system and indeed there is a tested model that could be used. It is not applied purely because of political reasons.
Use the link below to read about the extremely successful monetary experiment conducted in a town in Austria in 1932 and 1933.
But before reading, try to guess whether the success of the town’s experiment made the Central Bank of Austria:
- To apply these ideas across the country, or
- To shut it down as a threat to its monopoly rights.
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