22/12/2016
Michael Schmitt, Senior Project Manager at attempto GmbH & Co. KG, delivers the talk “A New Understanding of Money” at JBFOne 2016, presenting new perspectives and raising questions for discussion.
This talk outlines the principles on which our modern life in capitalism is built and demonstrates, including the mathematical foundations, why growth is necessary and where its limits lie. Value creation and money creation play an essential role; however, in today’s system, there is unfortunately no longer a direct connection between the two. The fractional reserve banking system only works as long as trust in the system can be maintained; there is no inherent security within the system. The apparent contradiction between economic growth and rising unemployment is addressed, as is the inevitable redistribution of wealth from the poor to the rich.
Ultimately, the question remains: what solutions exist for our problems, and to what extent can an approach such as a universal basic income help us?
JBFOne, the IT congress of Fiducia & GAD IT AG, took place on November 22-23, 2016, at the Kongresshotel Dolce in Unterschleißheim near Munich.
