Manifesto

Content

1. First, the ‘core problem of humanity’ is visualised in 17 seconds.
2. Then Professor Ricchiuti explains that our current financial laws are making our economies worse.
3. Then Professor Piketty indicates that four improvements need to be made.
4. Then Professor Tobochnik proves that the disastrous consequences of the current concentration of wealth can only be stopped with a global wealth tax on the extremely rich.
5. Then evolutionary economist Fonteijn explains that we are in a worldwide political impasse.
6. Finally, Fonteijn explains that all our money goes to the super rich and that this is the root cause of the current unstable situation on our planet. He also explains how we can prevent this instability and create a good future for all by rethinking our current financial legislation. He calls on people to vote for this manifesto and to help spread the message. He emphasizes the importance of collective action to bring about change.

1. Core Problem

Many of the serious problems in the world today are caused by one and the same core problem, namely the process of wealth concentration whereby an increasing share of all the world’s wealth is in the hands of an ever smaller group of people.

Watch the video below to get a good idea of the extreme concentration of wealth in our world today.

2. Failing economies

Below a video of a TED talk by Professor Ricchiuti, in which he explains how the extreme concentration of wealth to the super-rich is worsening our economies. “Something really needs to change,” he says.

Summary of the video: Big corporations, mostly owned by the super rich, have huge amounts of money. These companies have billions of dollars in cash. That money is not going back into the economy. What do they do with it? They buy back their own shares. They are increasing the dividend at a record pace. They do mergers and acquisitions, companies buy each other. That is the opposite of a healthy economy. These big corporations have done a great job of what we call financial engineering. In other words, they’ve helped companies build their share prices. And they have done very well. But don’t forget that the top 1%, own more than 50% of all stocks. So the results were very well for the super-rich, but it has done nothing for the other side, the so-called real economy, because you don’t see these companies making much-needed capital expenditures. We’ve had an economy that has done very well in recent years, but it hasn’t really benefited everyone. It has brought wealth to the super-rich, but it has done very little for working people and therefore for the real economy. And that has to change.

3. Four improvements

Below a video by Professor Piketty, in which he proposes four improvements:

Summary of the video: To restore our economies and governments to health, four issues need to be addressed, namely (1) tax progressivity, (2) establish a global financial registry, (3) enable access to educations and well-paying jobs and (4) public debts need to be reduced to greatly improve public investments further in education, environmental protection, health and infrastructure.

4. Wealth Tax

Below a video of a TED talk by Professor Tobochnik, in which he proves with a mathematical model that the disastrous effects of the current wealth concentration can only be stopped with a global wealth tax.

“This is not a crazy idea,” Tobochnik says.“ Thomas Piketty, a French economist, wrote the book ‘Capital in the 21st century’ in 2010, and after sifting through reams of data and doing all sorts of calculations and statistical analysis, Piketty came to the conclusion, that the best thing he could do would be a global tax on wealth. Why worldwide? Then you can’t hide.”

5. Political impasse

In below video evolutionary economist Fonteijn explains that we as humanity are becoming increasingly out of balance and that we are in a worldwide political impasse.

“Our global problems related to the cost of living, wars and climate change are becoming increasingly serious. Left-leaning parties recognise the problem and want to tackle it by increasing taxes. Right-leaning parties, on the other hand, understand that hiking taxes will only exacerbate the issue. Both sides have valid points, but neither offers a solution. We are in a political impasse. But there is light at the end of the tunnel. Humanity stands at a critical crossroads. We can either continue to flounder in our national politics, allowing wealth to bleed away to a select few or we can join forces with countries worldwide to enact revolutionary legislative changes that redirect the flow of wealth back to the working people.” 

6. Super Rich Tax

The first part explains how all our money goes to the super rich and the second part explains that this is the main cause of the current unstable situation on our planet. The third part explains how we can prevent this instability and create a good future for all by reconsidering our current financial legislation. In this part Fonteijn also gives concrete examples of new financial legislation that will lead to a fairer and more stable world. Finally, in the fourth part he calls on people to vote for this manifesto and to help spread the message. He emphasises the importance of collective action to bring about change.

6A. All our money goes to the super rich

In the video below, Fonteijn explains that all our money is disappearing to the super rich. This is because the structure of our current financial system is fundamentally flawed, leading to a massive transfer of wealth from the majority to a small, wealthy elite. This system, Fonteijn says, operates under laws and regulations that favor the accumulation of wealth by the wealthiest individuals and corporations. Key points that have be elaborated upon include:

1. Mechanisms of Wealth Transfer:
   • The financial laws and systems (such as tax codes, banking regulations, and investment practices) are designed in a way that enables the wealthy to accumulate more wealth while the middle and lower classes face financial erosion.
   • Practices such as tax avoidance, corporate subsidies, and financial speculation disproportionately benefit the super-rich.
2. Impact on Economies:
   • When a large portion of wealth is concentrated in the hands of a few, it leads to unhealthy economies. There is reduced consumer spending, higher levels of debt, and decreased investment in productive sectors of the economy.
   • This concentration of wealth can also lead to economic instability, as the economic system becomes overly reliant on the financial sector and speculative investments rather than on productive, sustainable industries.
3. Government Financial Health:
   • Governments become “bankrupt” in a metaphorical sense because they are unable to collect adequate revenue due to tax avoidance and evasion by the wealthy. Additionally, they are often burdened by high levels of debt incurred through policies that favor financial markets over public welfare.
   • The lack of sufficient revenue limits governments’ ability to invest in public goods and services, such as education, healthcare, infrastructure, and social safety nets.

6B. Unstable situation on our planet

In below video Fonteijn explains our repeating destructive cycle where major wars and conflicts, despite their devastation, temporarily reset economic conditions and create a period of relative equality. However, due to systemic flaws in financial laws and economic systems, wealth and power gradually reconcentrate in the hands of the super-rich, leading to growing inequality that eventually triggers social unrest and conflict once more.

Post-War Economic Resets

1. Destruction and Rebuilding:
   • After major wars, the widespread destruction of infrastructure, industries, and assets can level the playing field, as the material wealth that once defined social hierarchies is significantly diminished.
   • The devastation often affects all classes, including the super-rich, who may lose significant portions of their fortunes due to the destruction of physical assets, businesses, and investments.
   • In the aftermath, societies focus on rebuilding, and in this process, there can be an opportunity for more equitable distribution of resources, as new social contracts are often established to address the needs of the broader population.
2. Temporary Equality:
   • The immediate post-war period often sees the implementation of policies aimed at reconstruction, economic recovery, and social welfare, which can lead to a more equitable distribution of wealth.
   • Examples include the establishment of social safety nets, progressive taxation, and public investment in education, healthcare, and infrastructure, which help to reduce inequality and create opportunities for a broader segment of the population.

The Return of Inequality

1. Systemic Flaws in Financial Laws:
   • Despite the temporary equality achieved in the post-war period, systemic flaws in financial laws and economic policies allow wealth to gradually flow back to the super-rich.
   • These flaws include tax loopholes, deregulation of financial markets, and policies that disproportionately benefit capital owners and large corporations.
   • As economies recover and grow, those with the means to invest in capital markets, real estate, and other assets begin to accumulate wealth at a much faster rate than the general population.
2. Re-concentration of Wealth:
   • Over time, the super-rich regain their wealth and influence, often aided by financial systems that prioritize profit over equitable distribution.
   • Economic growth in a capitalist system tends to disproportionately benefit those who already own significant assets, leading to a widening wealth gap.
   • The re-concentration of wealth is often accompanied by increased political influence, allowing the wealthy to shape policies in their favor, further entrenching inequality.
3. Cycle of Inequality and Conflict:
   • As inequality grows, social tensions increase, leading to political instability, social unrest, and, in extreme cases, conflict.
   • The persistent inequality can lead to disenfranchisement and disillusionment among the majority, who feel that the system is rigged against them.
   • Historically, when inequality reaches unsustainable levels, it can result in major social upheaval, revolutions, or even wars, which then reset the cycle.

6C. A good future for everyone

Fonteijn’s manifesto book underscores the critical necessity for systemic reform to escape the destructive cycle of wars that our current financial and economic systems perpetuate. He argues that only by enacting revolutionary changes can we create a more equitable and sustainable future. His proposals are centered around reforming financial laws, promoting global cooperation, redistributing wealth, and investing in sustainable development. Here’s a breakdown of the measures he advocates for:

1. Reforming Financial Laws
To create a fairer economic system, Fonteijn emphasizes the need for comprehensive reform of financial laws:

• Wealth Tax: Introducing a wealth tax of 30% on all assets above 10 million euros. This measure is designed to limit extreme wealth accumulation, ensuring that individuals can be wealthy, but only up to a certain limit (10 million euros). This policy aims to prevent the concentration of wealth among a small elite and promote broader economic equality.
• Profit Sharing: Redefining how corporate profits are distributed. Fonteijn suggests that profits from successful companies should not solely benefit shareholders. Instead, 50% of these profits should go directly to employees, promoting fairer income distribution and reducing economic disparities.
• Tax Relief for Workers: Reducing the tax burden on working individuals. By alleviating taxes on labor, the economic pressure on the average worker is lessened, potentially increasing disposable income and improving overall economic well-being.

2. Promoting Global Cooperation
Fonteijn highlights that many of the challenges we face—such as financial inequality, poverty, and climate change—are global in nature and require a coordinated international response:

• • Global Financial Reforms: Collaborating with other nations to implement fair financial practices globally. This includes international agreements to close tax loopholes, prevent tax evasion, and standardize financial regulations that limit speculative and exploitative practices.
  • Shared Responsibility for Global Issues: Encouraging countries to work together on global challenges, fostering an environment of shared responsibility and collective action to create more equitable and sustainable policies worldwide.

3. Investing in Sustainable Development
Fonteijn calls for prioritizing investments that support long-term economic health and environmental sustainability:

• • Renewable Energy and Sustainable Infrastructure: Shifting investments towards renewable energy sources and building infrastructure that supports a sustainable and resilient economy. This transition would reduce dependence on fossil fuels and promote environmental sustainability.
  • Social Programs for Economic Health: Investing in social programs such as education, healthcare, and housing, which are essential for maintaining a healthy, productive, and equitable society.

6D. Super Rich Tax 

This manifesto underscores the urgent need to rethink and reform our current financial systems and policies. By adopting these measures, society can foster a more equitable, just, and sustainable world. The manifesto is a call to action for both individuals and governments to recognize the interconnectedness of economic inequality, social injustice, and environmental degradation and to take bold steps toward systemic change.

In essence, this manifesto’s vision is one of radical but necessary change—a reimagining of our financial and economic structures to create a world where wealth is more equitably distributed, economies are healthier, governments are more stable, and our planet is safeguarded for future generations.

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