Reintegration of Capitals & Emerging Global Governance

Industrialism has produced enormous societal resources but its unequal distribution is largely responsible for widespread poverty. To make use of the societal wealth, the divorced financial, man-made, natural and human capitals have to be reintegrated, leading to more equitable global development. Such a transition is confronted with existing power structures and they must be questioned from a holistic perspective given the accelerating globalization toward a global entity. Historical experiences demonstrate that competition among nation-states and between capitals leads to the destruction of societal wealth and the emerging global entity enforces endogenous political and economic cooperation. Reducing hierarchies between financial, productive and human capital and their reintegration is bound to lead to a vigorous augmentation of human capital. Democratization within financial and productive capital will increase the productivity and creativity of human capital. As nation-states have lost influence, the development of human society rests on global democratic governance, which strongly modifies the inherited Bretton Woods Agreements and needs a Global Constitution based on human rights and democracy.