Dr. Craig S. Wright’s latest blog post, “The Source of Dignity” examines the concept of dignity and how it corresponds to value in the economy.
“Dignity is a product of being valuable. In a sense, value is not subjective, but something measurable, especially to the individual involved,” Dr. Wright said.
Dr. Wright goes on to explore the idea of dignity, its association with value, and how those ideas tie into the economic activity—and the lack of economic activity—that we see take place in the world.
“When you do valuable work, you can understand why it is valuable,” Dr. Wright said.
“To have dignity, we merely need to do more than we take as valued in society. Consequently, dignity requires growth. In a growing society, and a growing economy, people can feel that they are adding value. But, many of the measurements associated with growth are valueless in themselves. The movement of monetary instruments between financial organisations is not growth. The appreciation in the price of housing property is not growth. Growth requires the development and creation of new capital, new products.”
This latest blog post by Dr. Wright appears to be less about the source of dignity—even though that is the title of the piece—and more about the economical outcomes that are produced when value that is needed or missing is actually provided. This would explain why Dr. Wright says the movement of monetary instruments between financial organizations is not exactly dignified:
“The janitor who does an excellent job keeping the halls clean can lead a life of dignity. It is not the janitor whose life is undignified, but the writer and socialist commentator, noting that the janitor could be more and is not getting paid enough or that they are being undervalued, who is undervaluing their work.”
However, Dr. Wright does circle back to the idea of dignity and makes the connection between dignity and creating real value clear to the audience.
“In a well-designed watch, each intricate part interacts with another forming a system that works smoothly. The smallest and the largest cogs all work together. Even the smallest cog thus becomes a critical component of the system. When an individual is part of an integrated system that delivers value, they feel needed, and dignity is created,” Dr. Wright said.
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.