In order to more completely understand the problem of our current "Greater Fool" way of living, it is helpful to review the various posts and related links of this blog. However, for those of you who want a quick answer, I posted the following in my About section this morning:
The development of a response to this condition [why we have failed to develop to our full potential] follows:
(The details may change somewhat as potential members help shape the rules of the club, but this is essentially the form of the institution that has the potential to move us towards a more comprehensive and sustainable lifestyle. As the details are known, the following summary will be updated.)
What the world needs now is an institution that permits us to hedge against the current "Greater Fool" Lifestyle that dominates the culture in inefficient and insidious ways. This lifestyle includes investing in a stock market that is by historical standards considerably overpriced. If history is a guide, many investors can expect to receive little or no income from the stock market. To my knowledge, there is currently no hedge against this Lifestyle.
Below is a description of a private club that can serve as the hedge and the base for meaningful change:
--Rule changes and trustee selection are by "super majority" vote of both equity and membership.
--The design and atmosphere of club properties will be similar to that of a quality resort and spa w/ approximately 350 to 950 square foot apartments.
--Occupancy will be comprised of three components: 1) Guests who pay market rates for services, 2) Club members who utilize the property as a destination residence club at 4% times cost plus expenses that are pro-rated based on all property revenue, 3) Trustee-selected Club members (a.k.a. Fellows) who operate the property on an independent contractor basis and utilize the property as a non-accredited university
--Trustee meetings will be conducted online over a period of 4 or 5 days and members will have access to the entire proceedings whether in writing, audio and/or video.
--There will be two accounts within the club. One will be for properties in developed environments and the other will be for properties in developing environments. The club and others like it are intended to replace institutions like the debt-oriented World Bank and to also serve as a complement to charitable giving.
--Member's ability to reserve apartments at club properties will be subject to: 1) Guest reservations of up to 50% of capacity, 2) initial commitment date, and 3) ongoing commitment (through fulfilling pledges to "developing" and "developed" capital accounts and to actual occupancy)
This entire process of developing an answer has been very organic. However, I sense that there is now enough detail to start presenting the concept to individuals and institutions who may be interested in hedging the current "lifestyle" and/or being a part of a new institution that provides a model for sustainable development.