Re-educating the Monetary and economic system
Disparity in wealth distribution (DWD) continues to be a big blow to the world economy. On one hand there are many people (over 2 billion) in the world who are not even earning a dollar per day, on the other hand there are people (though less than handful, less than 1%) are making over 100 million US $/day. Such disgraceful disparity in money distribution is one of the major cause of world's economic crisis, poverty, and violation of human rights, wars and most importantly the root cause of the four evils of xenophobia. The four evils of xenophobia are nationalism (jingoism), racism, ethnocentrism and religionism. All these four evils are the precursors of impending WW III of 21st century. When a small sector (less than 1%) of world’s population controls more than 99% of world’s economy, disasters are bound to happen. For example, If few people of a nation become the major contributor of its economy, it also becomes the downfall of that country. If that country happen to be the world’s biggest economy, the whole suffers when its economy takes the downwards trend. Those “Few Elites of Wealthy Status” (FEWS) of such nation also create xenophobia in the world by fueling the sentiments of nationalism (jingoism) in disguise of the farce of democracy. Usually in such country there are only two main parties with similar agenda. In other words, there is only one party with different names. Both these parties fool people into believing that they are working for the people when in fact they are working for themselves. The FEWS also control the social system, legal system, political system, economy, media, education, entertainment and every major industry of that country. Their fundamental role is to create wealth for themselves and control the populace by brainwashing them (through media and education) into developing a patriotic sentiment that ultimately creates a force (police, military etc) that defends only the FEWS in disguise of letting the populace believe that they are defending their beloved country. Such patriotism is the basis of xenophobia created by FEWS. If these FEWS are part of a particular race, they may agitate the sentiment of racism among its populace by defining its race being the supreme, chosen or elite. This is another way of controlling and exploiting the mind of the people and thereby spreading xenophobia. The sole purpose of such movement is to enhance the power of FEWS. Similarly, if these FEWS belong to a particular ethnicity, they would invariably inculcate and indoctrinate their ethnic superiority by spreading propagandas that ultimately feed xenophobe sentiments. These FEWS if happened to be the elites belonging to a particular religion, they would conduct their practices in a way that would either glorify their own religion or undermine other religions. In other word they would practice religionism in disguise of religion. Religionism is one of the four evils that are roots of xenophobia. Disparity in wealth distribution (DWD) is not only an undesirable effect of market economy, it is also the cause of it; because it contributes to few other social problems that affect market economy like a malignant cancer. One of the most evil one is greed. Greed is like a two edged sword that embodies both cause and effect of DWD. In other words, one can safely conclude that DWD and greed go hand in hand. FEWS are a part of this grand scheme. These FEWS are ruthless, merciless and inhumane. They work on one simple principle; i.e. control, power and money (wealth hoarding). Wealth brings power and control which is an essential part of their belief. It means everything to them while humanity or human life means nothing.

Let us look at the following few examples of FFWS. Many industries (FFWS) are making profit at the expense of human lives. Following are few examples. 1. Tobacco industry is known to be the greatest culprit of such greed. In spite of the fact that tobacco use has caused millions of death through lung cancer and through many other smoke related illnesses, tobacco industry continues to flourish. It is supported by many countries and is the biggest source of revenue in third world countries. 2. Pharmaceutical industry is one of the most prolific in manufacturing its products that are not only dangerous to the pocket of patients but also dangerous to their lives. Industry’s only interest is profit (greed) not safety of human life. 3. Arms manufacturing and sale Industry (AMSI) is one industry that is the biggest slap on the face of humanity. Its greed has no end. Everyone knows that arms have only one purpose i.e. injudicious killings of innocent humans (even infants and children). Yet AMSI continues to manufacture arms and continues to ship those to countries at an unimaginable profit. Unfortunately, their biggest buyers are the developing nations who can hardly feed themselves let alone have the affordability to buy the sophisticated weapons. 4. Media has evolved in our time to the point that whatever we hear is not what we want to hear but what FEWS want us to hear. Media is overwhelmingly controlled by FEWS. Therefore, the interest of FEWS always precedes the interest of the public in general. For example, daily news casting on television these days appears to be an infomercial played by TV stations owned by FEWS (FOX News Channel being a typical example of an infomercial channel). CNN, BBC follow the same but to a much lesser extent. It is like watching a documentary carefully planned by the FEWS. Sensationalism is the key word and as long as it brings profit everything goes at the expense of humane feelings and humanity. 5. Entertainment Industry has the power to influence populace through its glamorous effect that delivers a powerful message if it is personified by a favorite movie star or by a sport hero. Violence has become the greatest entertainment of our time. It is seen on the big screen, TV; and even on the video games and cartoons which are usually watched by the children). It is all a conspiracy of the FEWS who own the entertainment industry and are behind the “Violence” being depicted so graphically. It has become the main theme of almost all the movies these days. Since violent movies bring big profit, it is now customary to make all movies with the violence being the main focus. All scientific studies have proven the fact that watching violence on screen, video games and cartoons helps children to exploit the aggressive instinct to the verge of violence. Children are not able to distinguish fantasy from reality distinctly until the age of ten and sometimes not until the age of 18 – 21. Children recruited by the violence on screen grow up to exhibit violent behavior in every walk of life. There are many more industries that spring up like mush rooms everyday. Their main purpose is greed and total disregard for humanity. Since their relevance to this article is remote, they are not being discussed in detail. --------------------------------Q. How did we get into this economical mess in the first place?

A. The answer lies in a corrupt economic system which does not provide justly to billions of humans on this planet. It only supports a few selfish and greedy billionaires. What is an economic system? An economic system is a system that involves the production, distribution and consumption of goods and services in a particular society. It is the method used by society to produce and distribute goods and services. Examples of contemporary economic systems include capitalist systems, socialist systems, and mixed economies. An economic system can be considered a part of the social system and hierarchically equal to the legal system, political system, cultural, etc. Basic types Economic systems are: 1. Market economy (the basis for several "hands off" systems, such as capitalism). A market economy is a social system based on the division of labor in which the prices of goods and services are determined in a free price system set by supply and demand. 2. Planned economy. A planned economy is one in which a central government determines the price of goods and services using a fixed price system. This is the basis for several "hands on" systems, such as socialism, or a command economy. 3. Mixed economy A mixed economy is defined as an economy where the price system is not entirely free but under some government control that is not extensive enough to constitute a planned economy. In other words, it is a compromised economic system that incorporates some aspects of the market approach as well as some aspects of the planned approach. In the real world, market economies do not exist in pure form, as societies and governments regulate them to varying degrees rather than allow self-regulation by market forces. This does not preclude an economy from having socialist attributes opposed to a laissez-faire system (i.e. a system that allows events to take their own course). Let us describe these economies in more detail. 1. Market economy This is the worst form of economy ever developed in history. It caters only to the needs of the FEWS’ greed while the majority either gets burnt by it or gets nothing out of it. It is based on the pyramid scheme. Ironically pyramid schemes are either banned or are illegal in most countries. However these schemes thrive substantially and are a lucrative business (for the FEWS) in many countries in disguise of capitalism. What is a pyramid scheme? A pyramid scheme is a fraudulent investing plan that has unfortunately cost many people worldwide their hard-earned savings. The concept behind the pyramid scheme is simple and should be easy to identify; however, it is often presented to potential investors in a disguised or completely altered form. How does it work?

As its name indicates, the pyramid scheme is structured like a pyramid. It starts with one person the initial recruiter (a typical FEWS) - who is on top, at the apex of the pyramid. This person recruits a second person, who is required to "invest" $100 for a product which either does not exist or is not worth the money. In order to make his or her money back, the new recruit must recruit more people under him or her, each of whom will also have to invest $100. If the recruit gets 10 more people to invest, this person will make $900 with just a $100 investment. The 10 new people become recruiters and each one is in turn required to enlist an additional 10 people, resulting in a total of 100 more people. Each of those 100 new recruits is also obligated to pay $100 to the person who recruited him or her; recruiters get a profit of all of the money received minus the initial $100 paid to the person who recruited them. The process continues until the base of the pyramid is no longer strong enough to support the upper structure (meaning there are no more recruits). The Fraud The problem is that the scheme (like market economy) cannot go on forever because there are a finite number of people who can join the scheme (even if all the people in the world join). People are deceived into believing that by giving money they will make more money ("with an investment of just $100, you will receive $900 in return"). The only person who gets the best return out of all this fraudulent activity of selling his product is the initial investor (FEWS). The actual product is not worth the money and is ordinarily un-sellable in the common market place. The rest of the investors who did all the hard work get either very little or nothing at all. The fraud lies in the fact that it is impossible for the cycle to sustain itself, so people will lose their money somewhere down the line. Those who are most vulnerable are those towards the bottom of the pyramid, where it becomes impossible to recruit the number of people required to pay off the previous layer of recruiters. As mentioned earlier, this kind of fraud is illegal in the Unites States and most countries throughout the world. One wonders why then these countries let this fraud prosper in disguise of capitalism? It is estimated that 90% of people who get involved in a pyramid scheme (just like in market economy) will lose their money.

Inherent value of “Products and services” in Market economy vs. pyramid scheme
1. Unlike the pyramid scheme, the products in market economy bear some substance and are not utterly useless. In other words, the product or service of market economy actually has some inherent good market value. As a recruit, you can make a profit from the sales of the product or service which is worth the money for the consumer. In pyramid scheme, consumer is totally ripped off as he buys a product or service which is of poor quality and of no value whatsoever. Nevertheless, there remains some potential for abuse in the hands of FEWS who either sell the product in disguise of a popularly marketed name such as KFC (Kentucky Fried Chicken) for KFC (Kelly Fried Chicken) or buying a popular name such as Toyota and not providing the product as good as the original owner of Toyota. 2. Unlike Pyramid scheme, in market economy you don't necessarily have to recruit more sales to people below you. And while you may be encouraged to recruit other salespeople whose sales would give you more profit, you can stick to just selling the product directly to the consumer if you choose. Since there is no central control by any authorized agency to evaluate the product, the corrupt FEWS can easily manipulate and abuse the system. 3. Unlike pyramid scheme, market economy not only has its purposeful investments and its many advantages, it also has the most vital element of inspiration for innovation and creation of competitive products which has always been the hallmark of market economy. However, the potential for exploitation and abuse in the hands of greedy FEWS puts it on a very slippery slope.

It is the later part (the greedy and corrupt FEWS) that makes market economy just as much fraudulent as the pyramid scheme. In short, there is inherent good and bad in market economy. As long as greed and corruption does not take over the spirit of market economy, it is undoubtedly a system worth adopting. But the FEWS have a mentality of having it all; resulting in DWD (a disparity in wealth distribution) to such an extant that eventually the populace becomes short chained like the victims of a pyramid scheme and gets burnt. In other words, the majority (99.9%) ultimately have nothing, while the FEWS (less than 1%) own everything. Since the hub and the backbone of the market economy is capitalism, it is important to discuss this economic system (capitalism) in detail. ----------------------------------------------------------

Capitalism is an economic system in which wealth, and the means of producing wealth, are privately owned and controlled, rather than state-owned and controlled. Through capitalism, the land, labor, and capital are owned, operated, and traded by private individuals or corporations, and investments, distribution, income, production, pricing and supply of goods, commodities and services are determined by voluntary private decision in a market economy. A distinguishing feature of capitalism is that each person owns his or her own labor and therefore is allowed to sell the use of it to others. In a "capitalist state", rights of private property ownership are protected by the rule of law, though there is very limited and sometimes non-existent regulatory framework. In the modern capitalist states, legislative action is confined to defining and enforcing the basic rules of the market, though the state have been proven to be ineffectual in implementing it. Some consider laissez-faire, to be "pure capitalism. Laissez-faire (A French word that means "leave to do by itself"), signifies minimizing or eliminating state interference in economic affairs and the competitive process, allowing the free play of supply and demand. Laissez-faire capitalism has never existed in practice. The central axiom of capitalism is that the best allocation of resources is achieved through consumers having free choice, and producers responding accordingly to meet collective consumer demand. In most cases consumers' needs are decided by the producers who design a system of credit through which consumers are lured to buy a product which may not be worth the money, as seen in pyramid schemes. Although producers and consumers must act rationally in any society for their own good, the irrational actions are said to be more readily apparent in a capitalist society. The present economic crisis of 2008 is a typical example of irrational actions.

State monopoly capitalism
In capitalism, big business, having achieved a monopoly or cartel position in most markets of importance, fuses with the government apparatus. A kind of financial oligarchy {(i.e. control by politically powerful families (FEWS) whose children are heavily conditioned and mentored to be heirs of the power of the oligarchy}, or conglomerate, therefore, results in a beneficial institution for the FEWS, whereby government officials aim to help and provide the social and legal framework within which giant corporations (FEWS) can operate most effectively. In practice, however, the government bows to these giant (FEWS) corporations. The system is so corrupt that when these giant corporations become bankrupt through their greedy and irrational

behavior, the government chips in to bail them out. In other words the government aids and rewards the corrupt and bad behavior of these giant cartels. State Monopoly Capitalism is a close partnership between big business and government, and it is argued that the aim is to integrate labor-unions completely in that partnership. The facts speak the opposite. Not only the spirit of free enterprise (free competition) evaporates by this close partnership between big business and government, the labor-union protection system also disintegrates. In other words, the government in disguise of helping the labor-union, it helps the big businesses. On an international level, ever since monopoly capital took over the world, it has kept greater part of humanity in poverty, dividing all the profits among the group (FEWS) of the most powerful industrial countries. The third world countries have suffered badly and have experienced the extreme poverty levels.

Today, on the basis of the trends of the past that had bolstered capitalism, has taken a new stand on the argument that capitalism should now be viewed globally as a truly New Economic World System or NEWS (i.e. a World government or a political body that would make, interpret and enforce international monetary laws). However, other thinkers argue that globalization, even in its quantitative degree, is no greater new than during its earlier periods of capitalist trade (i.e. during colonial times). The roots of globalization can be traced back to the imperialism of the early 20th century. Imperialistic policies promoted the spread of capitalistic principles, and the doors of trade stayed open in foreign countries (globalization) even after imperialism had come to an end. After the abandonment of the Bretton Woods system (That created the establishment of the IMF and the IBRD and IDA, now the World Bank), IMF and World Bank still remain powerful forces in the world economy. A major point of common ground at the Bretton Woods Conference was the goal to avoid a recurrence of the closed markets and economic warfare that had characterized the 1930s. Thus, negotiators at Bretton Woods also agreed that there was a need for an institutional forum for international cooperation on monetary matters. .As a result of the establishment of agreed upon structures and rules of international economic interaction, conflict over economic issues was minimized, and the significance of the economic aspect of international relations seemed to recede temporarily. The strict state control of foreign exchange rates, the total value of transactions in foreign exchange was estimated to be at least twenty times greater than that of all foreign movements of goods and services (EB). The internationalization of finance, became beyond the reach of state control and combined with the growing ease with which large corporations have been able to relocate their operations to low-wage states, it has posed the question of not only of the 'eclipse' of state sovereignty, but also of helping to enhance the disparity in the distribution of wealth (DDW), arising from the growing 'globalization' of capital. In other words, just like the national capitalism, NEWS (globalization) is only good news for the FEWS, whereas for the poor on the other side of the globe, it is nothing but a bad news, since it has fueled the poverty to its worst for them. Foreign exchange rates are the greatest sufferers in third world countries. Large corporations from industrial world have been able to relocate their operations to low-wage states (third world countries) have not only given them (FEWS) the advantage of labor cost but also the windfall of foreign exchange rates. This is the worst form of exploitation of third world country's labor resources. The only way to solve this problem is to give wages in a universal currency (if such currency exists). Globalization, in essence, therefore, is impractical unless there is a universal global currency.

Inheritance Inequality or disparity in Inheritance distribution (DID)

Inheritance Inequality or disparity in Inheritance distribution (DID) has done a great disservice to humanity in history. As someone said, “DID really ‘did’ it.” The distribution of inherited wealth in the world is drastically unequal. The majority receive little while only a small number, less the 1% (FEWS) inherit extremely large amounts. This creates discrimination that approaches to its highest form in areas where xenophobia resides (i.e. nationalism, racism, ethnocentrism and religionism). Such unfair economic discrimination and stratification in countries with the greatest disparities is only seen in capitalist countries. Most sociologists would agree that the policies that create socioeconomic disparities in various communities have a direct impact on human relationships in relation to race, religion, nationality and ethnicity. Depending on one’s race, one inherits an inevitable amount of privilege or disadvantage at the time of their birth. Certain races are disadvantaged for number of reasons. For example, Blacks, Hispanics and other minorities races in a predominantly white country are disadvantaged with respect to financial and human capital resources, more specifically, lower educational attainment, income, inheritances, and great concentrations in lower-skilled occupations. Additionally, due to employment discrimination and residential segregation, minority households “have historically been denied the opportunity to accumulate wealth” and thus, acquire inheritance. This inequality and disparity continues from generation to generation due to “DID”.

Social Stratification
For practical purpose in capitalist countries there are only two social strata or social classes, an upper class and a lower working class. The upper class holds the capital while the working class (as the name implies) works for it. The transfers of bulk estates at the time of death of the testators of upper class (FEWS), results in significant economic advantage to their children. The degree to which economic status and inheritance is transmitted across generations, determines one’s life chances in society. Although many have linked one’s social origins and educational attainment to life chances and opportunities, education alone cannot serve as the most influential predictor of economic mobility. Individuals with a substantial amount of wealth and inheritance (FEWS) often intermarry with others of the same social class in order to protect their wealth and ensure the continuous transmission of inheritance across generations; thus perpetuating a cycle of privilege. In turn it promotes the oppression of lower-class individuals in terms of the social hierarchy and system of stratification. Nations with the highest income and wealth inequalities DWD (disparity in wealth distribution) and DID (disparity in inheritance distribution) often have the highest rates of crimes, suicides, homicide and disease (such as obesity, diabetes, and hypertension). For this reason, it is clear that when social and economic inequalities centered on inheritance (DID) are perpetuated by major social institutions such as ethnicity, race, nationality of origin and religion, etc. When these differences in life opportunities are transmitted like an inheritable cancer from one generation to succeeding generation, the vicious circle of class difference and DWD continues. Consequently this inequality (DWD) creates all forms of evils of xenophobia that is related to high crime and diseases. Will continue.... For comments and questions write to: syedshahidmd@yahoo.com.au