Missing Intellect in Economics and Politics Volume One

In the last two decades, Free Market Economy and Democracy came to the brink of collapse. Neither of these systems can survive unless their fundamental structural problems are dealt with and realistic solutions are implemented. Unfortunately, while the issues of secondary importance are freely discussed, it is a taboo to mention the elephant in the the social intellect threshold for the society for the proper functioning of free market economy and democracy is rising every passing day, while the social intellect of the society is not. ***Missing Intellect in Economics and Politics* ** aims to reveal the vital but inadequately recognized aspects of Free Market Economy (Volume One) and Democracy (Volume Two) that are either *flawed in principle* , or *unknowingly or deliberately* *misapplied in practise.* Then, it offers potential solutions that will enable these systems to survive in an environment that is getting ever more complex day by day. ***Volume One* ** covers a wide but interconnected range of topics, *Fair Competition* , a concept beyond the classic definition of free and perfect competition, will be the strongest driver of the society’s welfare.A model for the *Dynamics of the integrated system of Free Market Economy and Democracy* , where the welfare of the society is based on both the economic growth rate and the change in inequality within the society.Why the *Social Intellect* of the individuals and the society -defined as a blend of wisdom, social education, social experience, and social awareness- are weakening relative to the increasing complexity of the world, and why that is damaging the economic system.Why there is a *Concentration of Power* in economies and why that ruins the welfare of the society. And why it has a strong tendency to revert to *Cheating* – against which the society is currently so defenceless.Why *Cheating* causes a misallocation of resources which in turn results in a sub-optimal value creation, such that the total harm inflicted on the society is much more than the benefit to the cheater.Why the troubles related to *Agency Problems* and *Information Asymmetries* are so central to the malfunctioning of the economic system.Why *a concentration of power on control over private data collection and information flow* implicitly contains financial interests that dwarf those of classic monopolies by orders of magnitude.Why the society needs *Social Security* and **why it should be delicately tuned to decrease excessive inequality but not to eliminate the fear of failure. ***Salih Reisoglu* ** has served as the CEO of an Asset Management Company for 20 years, is an expert on capital markets with over 30 years of experience, and has been analysing the relevant fields of economics and politics all through his career. He is a regular guest speaker on many TV channels and universities. He holds an MBA in Finance from the Wharton School of the University of Pennsylvania.