Opinion (Rothschild Wealth Management): “Economic prosperity and consumption are the measure for realizing my ‘self’. The GDP (Gross Domestic Product) per capita measures the state of society, and it seems that we have created a religion of consumption which we have nourished through a system of credit.
“The financial crisis in the year 2008 halted economic growth: 50% unemployment among the youth in Europe, the impending pension crisis and other difficult problems all paint a bleak future for Europeans and Americans. This is the end of the consumer economy.
“Western youth have entered a cooperative economy, an economy of common consumption, commerce of barter, recycling. Its foundation is joint interaction, human relationships.
“When Western man was compelled to enter into connection with others while exchanging goods or services, from the connection with strangers itself, he began to feel benefit. From well-established relationships there is economic benefit, which is to say, measurable benefit.
“I am not trying to promote the collective economy, but it is useful as an allocation of new economic resources and social interaction among people which didn’t exist in the world before the crisis. This is more than a theory of group work, than all kinds of economic dividends from correct relationships between people within the framework of the existing economic system. This is speaking of social interaction (mutual influence) as a goal, as fulfillment of the person, as an independently standing product having independent economic benefit.
“If previously the self-realization of the person and the popular consumer culture were synonymous, today there is an element of social interaction which is a new component whose weight in the realization of Western man is great. The Western economy, where consumption by the middle class has been its central flywheel, is encountering changes in the orders of preference of the new generation for the first time. In that they have learned to consume less through replacing the benefit of consumption with the benefit of relationships between people, the younger generation today is making the first step towards changing the economic paradigm.”
My comment: The thoughts are correct because the right conclusions about what is happening are being made. But Lord Rothschild doesn’t see that beyond the changes of the economic paradigm of society, there is a transition from an economic component to a social component.
Long-range perspectives are more understandable only to someone who learns the wisdom of Kabbalah, the program of correction from the egoistic paradigm of society to an altruistic paradigm. Its realization is possible only through the creation of new connections between people under the guidance of Kabbalists. Lord Rothschild would have to agree with this.