Volume 3, Issue 4 May 2018 ISSN 2038-5242 and in Which a Culture of Democratic Values Is Freely and Fully Embraced by Both Leaders and the Electorate

CADMUS THE WEALTH OF NATIONS REVISITED Inside This Issue

Illiberal democracy is the price the world pays for years of undemocratic liberalism, which was CADMUS practiced after the end of the Cold War, after which democracy has increasingly mutated into PROMOTING LEADERSHIP IN THOUGHT a decorative instrument of neoliberal economic THAT LEADS TO ACTION NEW PERSPECTIVES ON MAJOR GLOBAL ISSUES optimisation. Alexander Likhotal, The World in Transit

Democracy can thrive only under conditions in which power is widely distributed, in which peace, freedom, equality and prosperity are widely shared, Volume 3, Issue 4 May 2018 ISSN 2038-5242 and in which a culture of democratic values is freely and fully embraced by both leaders and the electorate. Inside This Issue Garry Jacobs et al., ARTICLES The Future of Democracy The World in Transit: Going Should a world government aim at limited measures Beyond Myopic Visions — A. Likhotal designed to maintain what is called security, or is security itself dependent on the pursuit of broader Future of Democracy: purposes? Challenges & Prospects — G. Jacobs et al. Keith Suter, Future of the Nation-state The Future of the Nation-state in an Era of Globalization — K. Suter

Reconciling art and science, the subjective and Literature, Social Evolution objective views of reality through literary criticism & the Character of Life — J. Ramanathan may well provide a means to transcend the limitations of a purely material life science and Book Review of Come On!: discover a true science of life. A Report to the Club of Rome — M. Marien Janani Ramanathan, Literature, Social Evolution & the Character of Life Focus on Human Capital as the Core Foundation of — W. P. Nagan & Come On! is an important initial attempt to describe New Economic Theory S. R. Manausa a “world in disarray” and unsustainable trends in broader-than-usual terms, outdated thinking that New Perspectives on Value, — M. Nešković & Capital, Wealth & Welfare N. Neškovi underlies and exacerbates these trends, and the ć many elements of a “New Enlightenment” action Unorthodox Thoughts on the platform for sustainability. Economic Crisis — G. Gutenschwager Michael Marien, Book Review of Come On!: Cryptocurrencies and A Report to the Club of Rome Global Governance — G. Jacobs

Is Falsehood becoming Continued . . . untenable? — R. van Harten

Western and Eastern Values €10 are Complementary — A. Natarajan EDITORIAL BOARD Chairman: Ivo Š laus, Honorary President, World Academy of Art & Science; Member, Club of Rome, European Leadership Network and Pugwash Council. Editor-in-Chief: Orio Giarini, Director, The Risk Institute, Geneva and Trieste; Fellow, World Academy of Art & Science; Honorary Member, Club of Rome. Economic theory must find space for the limitless potential of human capital. Managing Editor: Garry Jacobs, Chief Executive Officer, World Academy of Art & Science and World Winston P. Nagan & Samantha R. Manausa, University Consortium; Member, Club of Rome; Vice-President, The Mother’s Service Society, India. Focus on Human Capital as the Core Foundation of New Economic Theory Members: Zbigniew Bochniarz, Professor, Kozminski University, Warsaw, University of Washington and Harvard Business School, USA; Member of the Board of Trustees, World Academy of Art & Science. A new economic theory should be a crucial element of the new paradigm of Erich Hoedl, Vice-President, European Academy of Sciences & Arts; Former Rector, Wuppertal human development and should include a redefinition of the concept of value University and Graz University of Technology; Member, Austrian Chapter of Club of Rome; Fellow, World in economics, and the way of measuring contributions to economic growth. Academy of Art & Science. Michael Marien, Fellow, World Academy of Art & Science; Director, Global Foresight Books; Senior Marta Nešković & Nebojša Nešković, Principal, Security & Sustainability Guide. New Perspectives on Value, Capital, Wealth & Welfare Winston P. Nagan, Chairman of the Board of Trustees, Chair of Program Committee, World Academy of Art & Science; Editor of Eruditio Journal; Professor of Law Emeritus, University of Florida, USA. Only when all science is incorporated into a philosophical framework with Ashok Natarajan, Fellow, World Academy of Art & Science; Secretary & Senior Research Fellow, The the emotional and moral dimensions that are implied by the arts and the Mother’s Service Society, India. humanities will knowledge be able to serve humankind. Thomas Reuter, Professor, University of Melbourne, Australia; Fellow, World Academy of Art & Science; Senior Vice-President, International Union of Anthropological and Ethnological Sciences. Gerald Gutenschwager, Alberto Zucconi, Secretary General, World University Consortium; Treasurer & Member of the Board of Unorthodox Thoughts on the Economic Crisis & the Dictum of Protagoras Trustees, World Academy of Art & Science; President, Person-Centered Approach Institute, Italy.

Editorial & Technical Staff: Vasugi Balaji, Latha Chandrasekaran, Shashini Kumar, Janani Ramanathan, While cryptocurrencies are still in a nascent stage of development, their Ranjani Ravi, Subiksha Senthil, Vani Senthil and Ranganayaki Somaskandan. enormous potential for technological and organizational innovations opens up untold possibilities at the national and global level. The CADMUS Journal The acronym of the South-East European Division of The World Academy of Art & Science— Garry Jacobs, SEED—prompted us to initiate a journal devoted to seed ideas—to leadership in thought that Cryptocurrencies and Global Governance leads to action. Cadmus (or Kadmos in Greek and Phoenician mythology) was a son of King Agenor and Queen Telephassa of Tyre, and brother of Cilix, Phoenix and Europa. Cadmus is credited with introducing the original alphabet—the Phoenician alphabet, with “the invention” Can WAAS organise itself to become an effective instrument to promote truth of agriculture, and with founding the city of Thebes. His marriage to Harmonia represents in a world that is moving towards harmony and truth? the symbolic coupling of Eastern learning and Western love of beauty. The youngest son of Cadmus and Harmonia was Illyrius. The city of Zagreb, which is the formal seat of SEED, was Robert van Harten, once part of Illyria, a region in what is today referred to as the Western Balkans. Cadmus will Is falsehood becoming untenable? be a journal for fresh thinking and new perspectives that integrates knowledge from all fields of science, arts and humanities to address real-life issues, inform policy and decision-making, and enhance our collective response to the challenges and opportunities facing the world today. The future evolution of humanity requires the integration and unification of multiple complementary perspectives to arrive at a whole which transcends Copyrighted to & Published under Open Access policy guidelines by The Mother's Service Society, the narrow boundaries of competing partial truths. Contradictions are 16192, Coastal Highway, Lewes, DE 19958, USA complements.

Visit http://cadmusjournal.org/content/editorial-policy for Editorial Policy. Ashok Natarajan, Websites: www.cadmusjournal.org – www.worldacademy.org – www.newwelfare.org Western and Eastern Values are Complementary E-mail: [email protected]

Editorial Office: 5, Puduvai Sivam Street, Venkata Nagar, Pondicherry 605011, India Printed by: Akaram, Plot No.1, Nirmala Nagar, Thanjavur, India PROMOTING LEADERSHIP IN THOUGHT THAT LEADS TO ACTION

THE WEALTH OF NATIONS REVISITED CADMUS

NEW PERSPECTIVES ON MAJOR GLOBAL ISSUES

Volume 3, Issue 4

May 2018

1 CADMUS VISION The world is in need of guiding ideas, a vision, to more effectively direct our intellectual, moral and scientific capabilities for world peace, global security, human dignity and social justice. Today we face myriad challenges. Unprecedented material and technological achievements co-exist with unconscionable and in some cases increasing