Deep fundamentals

Third Wave” is revolutionizing our relationships to three “deep fundamentals” and, therefore, to wealth systems in general.

• Time relationships are being transformed with respect to the continually increasing amount of changes and synchronization required for businesses and individuals to accumulate wealth.
• Space relationships are being transformed with respect to the former geographic limitations of market transactions. Never before has it been possible for businesses and individuals to accumulate wealth from around the globe with the ease that today’s internet brings.

• Knowledge relationships are being transformed with respect to availability. As Toffler states, never before have we been able to instantly access virtually unlimited amounts of any kind of information for virtually zero cost. Unlike the foundations of past wealth revolutions, the Third Wave’s foundation defies traditional economics in that knowledge is not scarce; knowledge is infinite and exponentiates itself. An economy based on knowledge also defies classical economics due to the non-rival property of knowledge.

• Work: as the latest, knowledge-based wealth system unfolds, we are moving toward a future in which, as we’ll see, more people “work” but fewer hold “jobs.” It will drastically alter labour relations, human resource departments, legislation and the overall labour market. The new wealth system demands a complete shake-up in the way increasingly temporary skill sets are organized for increasingly temporary purposes throughout the economy. Nothing is more deeply fundamental to the creation of wealth. Not only are work and the division of labour changing, but income distribution itself—the “who gets what?”—may be heading, over the long term, toward truly revolutionary change. Time: This looming crisis is a direct result of the “de-synchronization effect,” an example of how we mindlessly deal with one of the deepest of all the Time. Nations all over the world today are struggling at different rates of speed to build advanced economies. What most business, political and civil leaders have not yet clearly understood is a simple fact: An advanced economy needs an advanced society, for every economy is a product of the society in which it is embedded and is dependent on its key institutions. If a country manages to speed up its economic advance but leaves its key institutions behind, it will eventually limit its potential to create wealth. Call it the Law of Congruence. Feudal institutions everywhere obstructed industrial advance. In the same way, today’s industrial-age bureaucracies are slowing the move toward a more advanced, knowledge-based system for creating wealth. Everywhere, as we’ll see later, attempts to change or replace an industrial-era agency spark resistance from its traditional beneficiaries and their allies. This resistance creates, or at least contributes to, drastically uneven rates of change. Which helps explain why so many of our primary institutions are dysfunctional—out of sync with the accelerative pace that a knowledge-based economy demands.

• Today’s governments, in brief, have a severe problem with TIME itself. The current political system was never designed to deal with the high complexity and frenetic pace of a knowledge-based economy.

• Education is about far more than jobs. But the schools, with minute exceptions, also fail to prepare students for their roles as consumers and prosumers. Nor does this system, by and large, help kids cope with the rising complexity and new life options they face in sex, marriage, ethics and other dimensions of the emerging society. Least of all does it succeeds in introducing more than a tiny fraction of them to the enormous pleasure of learning itself. A Toffler. Revolutionary Wealth

WAVE SYSTEM DRIVING OF THOUGHTS

Needs: A need is something that is necessary for organisms to live a healthy life.
Wants: are often distinguished from needs. A need is something that is necessary for survival (such as food and shelter), whereas a want is simply something that a person would like to have.
Desires: motivational aspect of desire has long been noted by philosophers; Hobbes (1588–1679) asserted that human desire is the fundamental motivation of all human action.
Enough: Is the driver of created futures. When humans as individuals and then as groups work out enough, it now is easy to create abundant futures. The next 25 years will be dealing with the question…

What is enough?