New Philosopher Magazine - Issue 43

In this issue

In contemporary society, it’s all but impossible to operate without money; without joining the game of chasing and building wealth. Sure, there are a brave few who attempt to operate outside of the economic system, as well as historical examples like the Iroquois in North America, but a moneyless economy such as a Time Bank or Core Economy is – at this stage, at least – no more than a utopian vision. Perhaps the interdependence of the family household is as close as we’ll ever get. Obtaining money in order to live is serious business: without money, surviving and thriving is cast adrift. No ticket, no entry; without money the human essentials of seeking food and shelter shift from an assumed right to a battle for survival all over the world – a sobering fact that is brought into stark relief when you consider, based on research conducted by the World Bank, that 650 million people live on less than $1 a day and half the world’s population (yes, that’s right, half) live on less than $6.85 a day. Even the Temple of Wealth isn’t immune, with the most recent US Census revealing that 12.4 per cent of Americans, or 37.9 million people, were regarded as living in poverty in 2022; in the UK 22 per cent live in poverty, and in Australia it is much in line with the US. In Sub-Saharan Africa the figure is 62 per cent. And while half the world struggles to survive, the 400 wealthiest Americans boast a combined $4.5 trillion in wealth – an average of $11.25 billion each. But what of those who fall in the middle – those who earn enough to survive but don’t own a football team or a space travel company? This wealthy majority might be lucky enough to own property and need not worry about their next meal, but they still face a very real threat: that the chasing of wealth defines their very existence; that instead of owning their property, their property owns them.