Missing Intellect in Economics and Politics

In the last two decades Free Market Economy and Democracy came to the brink of collapse. Neither of these systems can survive unless their fundamental structural problems are dealt with. Unfortunately, while the issues of secondary importance are freely discussed, it is a taboo to mention the elephant in the room: the social intellect threshold for the society for the proper functioning of free market economy and democracy is rising every passing day, while the social intellect of the...
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In the last two decades Free Market Economy and Democracy came to the brink of collapse. Neither of these systems can survive unless their fundamental structural problems are dealt with. Unfortunately, while the issues of secondary importance are freely discussed, it is a taboo to mention the elephant in the room: the social intellect threshold for the society for the proper functioning of free market economy and democracy is rising every passing day, while the social intellect of the society is not. Missing Intellect in Economics and Politics aims to reveal the vital but inadequately recognized aspects of Free Market Economy and Democracy that are either flawed in principle, or unknowingly or deliberately misapplied in practice. Then, it offers potential solutions that will enable these systems to survive in an environment that is getting ever more complex day by day. The book covers a wide but interconnected range of topics, including ? Fair Competition as the strongest driver of the society's welfare ? the weakening Social Intellect of the society relative to the rising complexity of the world ? Concentration of Power and Cheating in both economics and politics, ruining the welfare of the society? Agency Problems and Information Asymmetries being central to the malfunctioning of the economic and political systems ? Democracy, stability, fair representation and legitimacy, and the new heterogeneous society? the failure to establish a real separation of powers, and the rise of autocracies within democracies? the lack of competition in politics ? a proposal for a new Advanced Democratic System Missing Intellect in Economics and Politics shows the reader how to think on macro economic and political issues, rather than what to think on them. Therefore, its content is not bound by any specific society, place or time, but is applicable in different occasions to reveal different but valid solutions.