Why we need democracy 2.0 and capitalism 2.0 to survive

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The$ world$ is$ running$ into$ great$ trouble.$ The$ Anthropocene$ challenges$ (including$
climate$ change,$ impending$ resource$ shortages,$ demographic$ change,$ conflict,$
financial$ and$ economic$ crises)$ call$ for$ entirely$ new$ answers.$ As$ a$ result,$ we$ are$
now$seeing$the$emergence$of$data<driven$societies$around$the$globe.$Feudalism$2.0,$
fascism$ 2.0,$ communism$ 2.0,$ socialism$ 2.0,$ democracy$ 2.0$ and$ capitalism$ 2.0$ can$
now$be$built.$What$framework$should$we$choose?$What$would$be$the$implications?$
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• Underused resources should be opened up for use for a reasonable compensation. For
example, sharing economy platforms can offer opportunities to improve the use of underused
resources. Furthermore, new solutions should be pursued to reward people and companies for
innovative solutions and creative products.
• A centrally managed one-size-fits-all approach will not be diverse enough to create the
innovation rates, collective intelligence and societal resilience needed. One should, therefore,
support international interdisciplinary initiatives developing new solutions to impending
crises, based on both, competition and collaboration.
109
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• One should support the ability of people to help themselves and each other. Big Data,
Artificial Intelligence, innovation and production should be democratized by supporting open
data and open innovation. Furthermore, one should catalyze an information, innovation,
production and service ecosystem by requiring or rewarding interoperability. Then, SMEs,
NGOs, citizen scientists and the maker community could better contribute to solving the
problems of the world, based on the principle of glocality ("think global, act local").
• One should build "democracy 2.0" ("digital democracy"), which requires suitable platforms
for online deliberation and eGovernance. Such platforms can now be created. They can help to
bring the best knowledge and ideas together, which is key to master the challenges of the
future. (They may also integrate Artificial Intelligence technology.) "Pluralistic" solutions that
are acceptable from diverse perspectives have the advantage that they can serve multiple
purposes and functions. The parliament could decide for, say, one, two or three of such
solutions, giving communities a choice to implement a locally and culturally fitting solution.
This approach would reach a good balance between standardization and diversity.
• Last but not least, one should build "capitalism 2.0" by adding a "socio-ecological finance"
system to our current financial system, where various new currencies measure social and
environmental impacts and attribute a certain value or cost to them. This socio-ecological
finance system would provide a new, multi-dimensional incentive and exchange system,
enabling to support the self-organization and coordination in complex dynamical systems such
as our economy and society. If suitably specified, socio-ecological finance will foster a
circular and sharing economy, which implies the more efficient use of scarce resources and a
good quality of life for many people. The system will allow everyone to earn money by
crowd-sourcing (e.g. by measuring environmental impacts). Taxes for public investments can
be automatically created as well. Capitalism 2.0 offers many dimensions to "do well". It also
considers non-material value. Finally, as the approach takes externalities into account, it can
effectively support environmental care and social cooperation (including peace between
cultures) while supporting individual and entrepreneurial freedom.
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