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Over coffee at work today, a colleague was speaking about their daughter moving out of the house so that she can be independent - although, it looks like she is still going to be relying on her parents for some time to come. This is quite common these days and it led into a discussion about the past and the future of personal finances. 

While it is easy to blame the younger generations for their poor financial habits, there is more to the story than that, as conditions aren't exactly favorable for the average person to build wealth. 

https://images.hive.blog/0x0/https://files.peakd.com/file/peakd-hive/tarazkp/jDB6kPvg-OI000709.jpg

After the Second World War, times of economic growth potential were plentiful, as the world rebuilt and adjusted and automation became common place, dropping the price of production and encouraging widespread consumption increase - changing the collective mindset from saving to spending, the scarcity of the near-past forgotten. Over the last forty-odd years, there has been a large increase in financial mechanisms and vehicles that has been responsible for a massive amount of wealth generation, as the money that had been made was looking for passive ways to gather more to it. *Money attracts money.*

This has worked out well for those with financial availability, while those without who missed the opportunity to generate and invest, have continued to fall behind. While the baby-boomers inherited from their parents in conditions favorable to generate more, the growing consumer habits and rent seeking activities have eroded the ownership value and therefore, reduced the *hand-me-down* economy for many, but not all. We can see this in the increasing speed of  concentration of wealth into fewer hands, with the disparity so extreme, that the difference between the top of the 1% and the bottom of the 1% is greater than the difference between the bottom of the 1% and the bottom. 

Money still attracts money, it is just that fewer people have it available, which is why we are seeing society rebel in various ways, as while many of us might not fully understand the economics of it, we can *feel* that we aren't playing on a level playing field - and it *keeps tilting* in the favor of those who already have resources. the situation is untenable and will lead to increased volatility, surmounting in collapse across economies and societies.

What we do about this as individuals is the question that needs to be answered, even though many are looking for the solution to come from governments and the wealthy, as if they are incentivized to change the process. As I was discussing with my colleague, I see the only viable solution as people building their ownership portfolio, which means creating some level of financial availability, fighting the urge to consume and, investing it into wealth generating activities consistencies instead.

This is a long road and a slow journey, but if the wealth distribution can start to be diversified, the money attracts money shift will change direction, with fractions of wealth starting to collect in places it hasn't before. Crypto of course plays a role in this distribution of wealth, as it gives a new mechanism and financial vehicle that allows pretty much anyone to take part, starting from near zero, or zero as is the case for many Hive users. As the wealth starts to gather on blockchains, it will start to attract more momentum and velocity with each passing block. 

Ownership is something that we each need to explore, including the implications we will likely face if we do not have it. We can see that we have built a world where there are increasingly large head starts for a small portion of the world, while everyone else is increasingly lagging behind, with no access to the same toolkit of possibility. If we don't do this, generation after generation will see an increasing gap form with a decreasing ability to cope and manage with it. Yet, because the challenge seem insurmountable, most will opt-out of the responsibility and say, *it isn't my problem.*

But, since we live in a globalized world and rely on each other in an uncountable number of ways - *it really is our problem.* We can already feel it. 

Taraz
[ Gen1: Hive ]

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