VALUE LIFE BALANCE - Chris Wyer

Imprint 2012 - 2. Edition Editors: RAW Press, Zürich – Switzerland Author: Chris Wyer Lector and proofreading: Chantelle Sheron Jankin Translator: Anja Kyja Dräger Design & Layout: Chris Wyer / RAWCUT Design Studio Zürich ISBN 978-3-033-04323-7 The term VALUE LIFE BALANCE® as well as all parts and content of the following work are copyright protected.

Use without the author’s consent is prohibited. Copyright © 2012 Chris Wyer Further information on www.value-life-balance.com

‘Our heads are round so that our thinking can change directions.’ Francis Picabia

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Illustration: Clémentine Girardeau ©2013

PREFACE

By taking an interest in the topics outlined in this book you are contributing towards achieving its aims. The conscious investment in sustainable goods and services triggers a chain reaction at the level of value creation from which, as an investor, you will emotionally benefit on more than one level.

It is important to me that the ideas outlined below lead to actions that will be of use not only to you personally but also to those around you, to society as a whole and to generations to come. The notion is a simple as it is valuable. By investing in our own immediate reality we add value to ourselves and our environment. In this way, we are doing the best possible service to our economy and to society as a whole. It would be wonderful if one or two things stayed with you that might serve as an incentive for becoming a happier and more sustainable investor; or give you a new understanding of profit that assures a good life in the long term, without having to give up the things you hold dear.

Just as our dynamic, globalised world undergoes rapid changes; your VALUE LIFE BALANCE is exposed to perpetual transformation. Like any kind of contemporary and successful strategy, your approach towards reaching your optimal VALUE LIFE BALANCE – i.e. your values, investments and their consequences – needs to be continuously reflected, adapted and developed further.

The ideas exposed in the following should be seen as impulses for reflection: they make no claim to theoretical or empirical provability, but rather appeal to your moral and common sense. You will not find any mathematical models on the pages that follow, because, in the spirit of Thomas Sedlacek: our most sophisticated models are in reality merely stories, parables and efforts in trying to get a rational grasp of the world around us.

At this point I should like to thank all those who continue to inspire and motivate me in pursuing to create a fair, living and healthy economy and 7

thus in seeking a happy and fulfilled society. A special thank you goes to Eva K체nzi for the wonderful illustrations she created for this book, Chantelle Sheron for the exciting collaboration in editing the original texts, Andrej Radovic for our inspiring and illuminating conversations, Anja Kyja Dr채ger for the excellent translation work, Sarah Washington and Rio for their patience and of course all those who in some way supported me in the work that went into this book.

I wish you enjoyment and inspiration in reading it and, hopefully, a positive influence on your VALUE LIFE BALANCE. Chris Wyer

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TABLE OF CONTENTS

Introduction

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1. The pitfalls of our times for society & the economy An Absence of Ethics, Morals and Visions Drivers of Change – Chances and Risks of Tomorrow Meta-Economy – The Birth of an Economic Background Actor

21 21 23 26

2. New ancient values for a happy tomorrow Consumption – Engine of the Economy and Dictator of our Needs?

Happiness – Are you as happy as you pretend to be?

Values – Things used to be much better; and they’re going to be very different

29 29 31 33

3. Propositions on the advantages of emotionally involved investments

37

4. VLB - Profiling your personal meta-economic self-portrait

41

5. 20 Investment examples promising happiness through a long-term increase in quality of life

53

References

94

Index of pictures

95

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Illustration: Eva Künzi ©2012

1. INTRODUCTION

There can be no doubt that much has changed for the better compared to times past and that we have been fortunate to enjoy and witness unprecedented growth in our economy and wealth. At the same time, our economic and political system, its leaders and our society are showing signs of fatigue. We seem to have over-exhausted ourselves. The complexity of a global market economy is taking its toll. This exhaustion is visible on many levels: it shows itself in individuals suffering from burnouts and depressions and struggling to look for meaning; it is visible in the problems surrounding migration and cultural understanding; it emerges in the larger economic and political context in the form of insecure markets, heavily indebted industrial nations and a growing rate of economic crimes; or in the shape of misguided environmental protection and a ratio of wars that is above the historical average.

Many investors feel insecure in the persistent turbulences on the financial markets. Cash reserves tend to have a calming effect, but generally there appears to be a lack of new ideas and little courage for alternatives. The equity markets have shown high volatility in the recent past but only limited opportunity for profit. Because of all this, we ought to consider new investment opportunities that will generate more than just financial dividends.

The economy and life values cannot be separated. Solid, natural values contribute towards sustainable investments that are socially compatible and beneficial to our own wellbeing and to society as a whole.

This little book is intended to show how emotional investments combined with passion, social virtues and healthy values will generate multi-level dividends that are more sustainable and more valuable than short-term, financially driven and rational investments without consideration for social consequences, natural resources or coming generations.

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It is high time to re-think and come up with a new understanding of profit.

Listen to your inner voice and its needs rather than to what politicians, investment bankers and other speculative investors with short-term selfinterest will tell or offer you on unreliable pieces of paper. Investments with a personal involvement are both more socially compatible and more sustainable.

This book purports a meta-economic approach as the natural foundation of the financial system. That is to say, an investment’s maximum profit is not limited to a figure but encompasses the implementation of personal ideals and values with the added benefit of paying off financially. In other words: the higher your individual and personal benefit from a given investment, the higher your overall profit.

The line of thought proposed here defines the term “profit” in a more differentiated way, rather than limiting it to mere figures, as is our standard economic understanding, and includes meta-economic profits and their repercussions. The idea that the attractiveness of a dividend rests solely in a figure is a very one-sided perception. Its consequence is that we may well know the price of a commodity without, however, recognising its true value.

It also goes to show that in our enlightened western world, meta-economic values still do not bear enough weight and do not occupy much space in an environment defined by rational thinking and a virtual economic system.

Don’t believe the hype!

Financial crises have a knack for returning, whether in the form of currency, inflation, debt or bank crises. The political insights into how to avoid the next crisis are only applied in a very limited way and the capacity for remembering among the economic and political decision makers remains poor. The consistent pursuit of long-term goals is no great strength among leaders of large institutions, forced as they are to produce short-term success in order to be re-elected or maintain their position.

An absence of moral values, wider perceptions or comprehensive competences in conjunction with short-term self-interest and corruptibility runs the show these days, and it is only a matter of time until the next crisis emerges.

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The top 20 countries in terms of national debt level in relation to gross domestic product (gdp) in 2012.

Fig. 1: Source: Statista.de/IMF

US debt clock. Extract of 07.01.2013

Fig. 2: Source. www.usdebtclock.org

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Against this volatile backdrop it is worth focusing on sustainable and personal values and to ensure – for the sake of one’s own fulfilment - that one’s personal VALUE LIFE BALANCE is in a meta-economic equilibrium.

“ In jobs we don’t like, we earn money to buy things which we don’t need.”

Thomas Sedlacek

After Work-Life Balance Comes VALUE LIFE BALANCE VALUE LIFE BALANCE (VLB below) champions a balanced approach between an investment and the actual, real benefit or added value it has for the life of the investor in terms of its socio-economic consequences, personal emotional profit and the promotion of passion, happiness and personal growth.

The idea is to become aware of how much money one actually requires to be able to lead an ideal life tailored to one’s personal needs; ideal in terms of the ratio of income, effort, security and the actual, personally relevant needs, desires and possessions. VLB is meant to help rediscover investment values in a multi-option society that will generate personal added value rather than reducing the investor to an uninvolved, irresponsible owner of figures on paper. It is important to realise that each investment comes with a social responsibility. In light of our current problems it is not the short-term quantity of value generation but rather the quality of a comprehensive meta-economic strategy that will lead to overall success.

Starting on p. 41 you will have the opportunity to create a personal metaeconomic self-portrait of your current situation but also of your desirable position in the future. This profiling will help you find ideal ways of investing to improve your personal happiness and achieve long-term quality of life.

Change Happens!

The more we know about systemic and human problems and their repercussions for our future, the more it is worth thinking about the meaning and the consequences of our investments and the kind of life they lead to.

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The much quoted adage “work to live or live to work” sums up the known dilemma of many small and large scale investors. Which investments are truly profitable? Death accepts no money and the future is uncertain. The most valuable things in life are positive emotional experiences in one’s preferred social and natural context. Why not, therefore, promote a tangible reality that will generate values for ourselves and for society and which, beyond that, will support the economy in a “healthy” way?

Against the greatly damaged trust in the economic and political world it is all the more important to become the architect of your own fate. In preparation of this we ought to look ahead and evaluate the most important and predictable upcoming “Drivers of Change“ and their potential consequences so that we can adapt early enough. This also goes for our daily investments, through which we should not merely create new and important meta-economic values but also further develop another very important good and turn it into something truly special: our personality.

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Illustration: Eva Künzi ©2013

1. THE PITFALLS OF OUR TIMES FOR SOCIETY & THE ECONOMY

An Absence of Ethics, Morals and Visions One of the greatest weaknesses in dealing with change is that our thinking remains trapped within the spirit of its time. Lack of imagination and drive combined with greed results in decisions taken for the sake of short-term profit. Global economic and political entanglements, the resulting dependencies and the prevailing absence of moral principles and sustainable visions make it difficult to introduce new systemic approaches that could generate independent results to the sole benefit of the matter. There is a tendency towards merely selfish compromises that are unlikely to lead to long-term, meaningful and comprehensive solutions. Since each reform has its winners and losers, people are rarely willing to take on unpopular short-term responsibilities and make sacrifices for the sake of future and long-term success. This also means that the solutions being offered only tend to cover up the long-term consequences and do not address core problems. An increase in profit usually leads to an increase in spending, followed by an increase in debt. The level of debt has increased globally, as have global money circulation and the socio-economic divide. As a result, small regional market participants increasingly face direct competition from large corporations and insurmountable entry barriers to the market.

This in turn leads to a dwindling diversity of independent goods and services and the independent know-how that comes with it.

There is a shortage of ethical or moral values in politics and the economy.

At the same time, the promises of one-sided, disproportional growth targets show a blatant deficit in visions that can only result in systemic risks.

The past decades’ pursuit of quantitative growth on all levels is starting to overwhelm the decision makers. It is a fallacy that exceeds the system, our knowledge and experience about it and, finally, the resources we have. The erosion of faith in politics and the economy is made worse by this situation and traditionally secure values are increasingly seen as unreliable. The loss 19

of faith born out of the current economic crises is not so much a loss of faith in the system itself but rather a lack of confidence in the decision makers – politicians, investment bankers, hedge funds manager, and speculative investors – who are responsible for the activities and the dubious strategies of the financial institutes.

These have brought us up against massive economic inequalities, historically unprecedented state debt, 48 (civil) wars across the globe and, at 11.2% (ER17)1, the highest unemployment levels in Europe since the introduction of the euro in 1999. It is no surprise, that calls for regulatory interventions are growing louder. But such measures are the enemy of freedom.

We should instead look hard to create and develop other incentives in order to solve the problems. This is intended as a plea towards a return to solid moral values that will lead to more successful solutions and will be socially and environmentally compatible in the long term.

1

Level of unemployment in the Euro-area at 11,7% (G17). Publ. Eurostat.

Source: http://epp.eurostat.ec.europa.eu/tgm/table.do?tab=table&plugin=1&language=e n&pcode=teilm020.

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Drivers of Change – Chances and Risks for Tomorrow We live in a globalised world with modern means of communication where nations, cultures and systems are moving ever closer together. Our economic and social environment has thus become vulnerable anywhere and to factors we can no longer influence. Land speculation, liquidity shortfalls among important consumer groups, new regulations by superordinate alliances such as automated data exchange, the long-term effects of biological, chemical and nano-research (e.g. steroids in the drinking water) or natural catastrophes are but a few examples.

Anyone making long-term investments with a focussed personal system of values will be on the safe side even in times of crises. Because an emotional or functional added value remains stable even if its financial value declines. This fact is particularly important in a complex and interconnected world, where so many “Drivers of Change” with varying risk potential are interlinked and operate in a multi-layered, interdisciplinary and partially unpredictable way. In this world, gullibility can be harshly punished, as the property bubbles in the USA, Spain and Ireland have shown and as even experienced shareholders of UBS, HP or Nokia have had to learn. It pays off, therefore, to think about the changes of tomorrow already today to ensure your investments will contribute to your long-term happiness. By making far-sighted investments with a meta-economic understanding you’ll be better equipped for the future!

The chart on the following page shows some of the most predictable “Drivers of Change” (‘mega-trends’ in the lifestyle jargon), that are likely to affect and influence us in the coming years and decades.

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Drivers of Change SOCIETY

- From information to knowledge economy - Descent of the middle classes - Less is more, the end of appearance - (Urban) I-society - Urbanity & urban sprawl - Change of age structure - Digital revolution vs. experienced realities - Increase in mental illnesses - Development and merging of tradition, progress and new cultures - Continuous education - The transparent human

TECHNOLOGY

- new definitions of progress (holistic, interdisciplinary research approaches) - digital revolution vs. experienced realities - new patterns of mobility renewable energy automated work processes (robots) - The Cloud (open data networks) - Big Data - new findings in space research - impacts of nano-technology (e.g. DNA mutations in natural organisms)

ECONOMY

- Changes of the economic powers - Loss of confidence in figures and systems - Infrastructure costs - Shadow economy/black market - Widening gap between rich and poor - New payment and credit systems - Economic migration

Fig. 3: by the author. The sources for the listed “Drivers of Change“ derive from a series of publications by various organs, think tanks and organisations.

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EN

- Ba fo - Ov - In eff - Sc na - Re - Dr na - Ne po na lig - Tr en

conomic

ce in ms sts y/black

ween rich

d credit

on

ENVIRONMENT

- Basic supply of naturally food as a luxury - Overfishing of the oceans - Increase of greenhouse effect - Scarcity/price increase of natural resources - Recycling innovations - Dramatic decrease of natural diversity of species - New types of environmental pollution through radiation, nano-particles and artificial light - Trend towards renewable energy

POLITICS

- Demographic power shifts - Lack of experiences = weak decision making - Bridging cultural differences - Loss of confidence - New types of war - Major changes in party politics - Dealing with international interest groups and alliances

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Meta-Economics – The Birth of an Economic Background Actor

“We have got to leave the system behind that caused the crisis.

In which many have acted, as the ancient Greeks would say, with hybris and unbridled nemesis.“ Christine Lagarde

Meta-economics comprises all the specialist fields that can lead to a comprehensive economic understanding. This includes philosophy, theology, mathematics, psychology, sociology and politics, in accordance with Wittgenstein’s believe that: “The way economics is dealt with is too limited and incomplete to lead to any valid insights, unless we supplement and complete it by incorporating meta-economic sciences.“ Meta-economics shapes the economic ethos as a whole. In our economic system which is by now almost entirely defined by rational criteria, this ethos has taken a backseat. But if we are to find comprehensive and durable solutions, we must depart from our present economic assumptions.

To be able to create lasting values and results, it is imperative to attribute greater importance to meta economic factors.

Science has dealt with economic theories in numerous historical treatises and parables. Even in the days of Gilgamesh, the ancient Greeks, the Hebrews or Galileo, meta economic questions were asked about the effect and the necessity for values. Already in those early days, there were models for handling debt, for instance in the shape of promissory notes hewn into rock.

In these we can recognise that the basic values and ways of trading in our society have remained much the same for millenia. Only the parameters have changed, with current economics giving priority to short-term figures and relegating meta factors to the side lines.

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Illustration: Eva Künzi ©2013

2. NEW ANCIENT VALUES FOR A HAPPY TOMORROW

Happiness – Are you as happy as you pretend to be?

The pursuit of happiness and satisfaction is deeply anchored in the human mind and acts as one of our main motivators. Happiness researcher Paul Thierbach – just as Aristotle before him – describes it like this: “Happiness is the goal and meaning of life. Ultimately, all goals intend to lead to happiness: one’s own or someone else’s (and hence one’s own).”

Happiness research distinguishes three states of happiness: 1. Luck = coincidental happiness, happiness by chance 2. Pleasure = short-term happiness 3. Happiness = life happiness Scientific discourse shows that reaching a state of happiness in its various manifestations counts as a fundamental need and goal of any society. It is also clear, as evidenced by Maslow’s hierarchy of needs (cf. fig. 4), that the needs and desires promising happiness depend on personal disposition and can be of the most diverse kind and driven by individual motivations.

Happiness, therefore, depends largely on our own attitudes and self-perception, and most people in fact pretend to be happier than they really are.

They pretend to be happy because they believe this is expected of them and expect it of themselves. Who will admit to unhappiness when surrounded by successful and evidently happy people?

Happiness studies, such as the one by Mathias Binswanger, have shown that distinguishable groups tend to form within groups of happy and unhappy people.

It has been proven, for instance, that happy people connect more quickly with new people and are therefore more likely to appear socially interesting. This in turn results in greater long-term happiness through the appreciation they experience in an active social network.

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The Happy Conclusion Happy or content people are often the more pleasant to be around. This, in turn, affects society as a whole. Happy people thrive and a happy society can afford to think about lasting reforms, while an unhappy society often results in destructive and restrictive actions and reforms due to a lack of perspectives. Proclaiming a happy society must therefore be our overall goal. It was with this in mind that, in 1776, the United States included the famous phrase “life, liberty, and the pursuit of happiness“ in their declaration of independence.

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Consumption – Engine of the Economy and Dictator of Our Needs?

Once our fundamental needs are fulfilled, as in present day western and urban societies, and we find ourselves at the top level of Maslow’s hierarchy of needs, the search for happiness becomes focussed on consumption.

In times where “greed is good” and “the price is right” are desirable concepts and where stress has become a status marker and spa-weekends a compensatory necessity, the inner emptiness finds its short-term respite in consumption.

self-realisation

EGO needs (recognition/prestige) Social needs (friendship/love/belonging to group) Safety needs (material and job security, housing, work) Basic needs (food, drink, sleep)

Fig. 4: Hierarchy of needs according to A. Maslow (1908 - 1970) 32 33

If we are backed by values that are healthy and solid, however, we are unlikely to define happiness by consumption. On the contrary, our wishes will then be for deeper personal experience, true passion and happiness and extending knowledge and insight. By looking for happiness in consumption we replace our natural, social values with materialism. We can assume, however, that the roots of dissatisfaction go deeper and that consumption merely serves as short-term symptomatic treatment. This mistaken focus, when solving the problem of dissatisfaction and lack of vision, usually goes hand in hand with the blind belief in continuous growth and increased consumption suggested to us by financial institutes, politicians, corporations and the media.

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Given our knowledge about the state of natural resources and growing populations, it is absurd and ignorant to hold on to this consumption orgy. The implausible growth targets of the market participants require obsolete business models: mass produced items sold as luxury products, megalomaniac packaging three times the size of the actual products or standardised work at exorbitant asking prices. The pressure for growth also means that we are flooded with pseudo-inventions that are nothing but ‘new covers for old books‘ and can never lead to genuine satisfaction.

Consumption and growth are undoubtedly important for the economy: they secure jobs and contribute a large and important part to the progress and security of our social institutions. However, in the absence of a long-term meta-economic vision, blind consumption and growth become dangerous.

If growth and consumption mean disproportionate debt, the prize is nonsustainability.

Consumption and growth targets must be viewed more responsibly and comprehensively. Any consumption comes with an inherent social and economic responsibility. As a participant in the market economy, as a vendor or a buyer, you are co-deciding the direction a business is taking and the values and standards underlying the manufacture of their products. Be a “Driver of Change” and consciously promote businesses or projects that convince through their holistic strategy and their socially responsible core values.

Reduce to the Max If we assume that we derive most added value from the quality, rather than the quantity, of what we consume, it follows that conscious consumption leads to greater contentment and thus to a better quality of life. Let’s face it: owning and maintaining an excessive number of unnecessary, purposeless possessions is more of a curse than a blessing and ends up eating away at the most precious and most transitory good we possess – our time. We thus arrive full circle at the old-fashioned values of modesty and moderation, or ‘less is more’: more time, that is, for what matters. The value of modesty is beginning to increase again in our hectic times, especially in our search for contentment.

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Values – Everything used to be better and tomorrow all will be different

“Taking decisions isn’t difficult If you know your values.”

Roy Disney

The globalised world with its multi-option society floods us with a daily deluge of (mis)information, offers and stimuli that make it more difficult for us to find and preserve old-fashioned, socially responsible values such as empathy or a sense of family and traditions. We live in an age where we go dancing at 3 am, where we have not one but three dates an evening and generally miss out on Sunday. We stay in touch with parents by text message.

But do these changes contribute to a richer and better life if we look at the experiences we make and the perspectives we gain?

Super-opportunity, or: how being spoilt for choice clouds our eye for what’s essential The reasons for questioning the way values become defined are many, particularly when we think of future perspectives, of our own happiness and long-term quality of life. In his book “Focal Point [A Proven System to Simplify Your Life, Double Your Productivity, and Achieve All Your Goals]”, Brian Tracy claims that focussing on relevant values is the foundation for long-term personal success and happiness. But to be able to do that, we must first clearly define what our elementary personal values are. In defining them, we should consider – as evidenced by a number of studies - that contentment does not steadily increase beyond a certain income. Measures we take to improve our life, such as reducing stress, becoming more involved or nurturing social contacts will always increase our quality of life.

Applied to our investments, this means that we should focus on meta-economic values and profits when defining what’s important to us.

The advantages are: quality of life, natural and multidimensional, rather than systematic and media-induced quantity. We should look out for things that add value to society and the economy, such as safety, passion, involvement, health and progress.

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Opposite is a list with some examples of popular status memes and their more deeply rooted alternatives. If you wish to start re-thinking your values you’ll find a first aid kit here.

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Popular, superficial values

Deep-rooted ideological values

Stress as status symbol

Independence & freedom

Consumerism as compensation

Renunciation as a luxury

Being overwhelmed by systems and

Reduction of complexity

social demands Repressive attitudes

Openness and tolerance

Fear of loss

Security and trust

Search for/question of meaning

Relevance and benefit

Egotism

Empathy (sensitivity for other)

Longing for recognition

Self-worth

Industrial culture/artificiality

Nature/naturalness

Opportunism

Consistency

24 hour (online) availability

Tranquillity and leisure

“Greed is good�

Quality

Resignation

Fun and joy

Fig. 5: chart by the author

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Illustration: Eva Künzi ©2013

3. PROPOSITIONS ON THE ADVANTAGES OF EMOTIONALLY INVOLVED INVESTMENTS

The desire for ever more things (money & possessions), ever higher social positions (career status) and ever further radiuses (travels) is a natural drive and rooted in society. But do these desires stand up to closer scrutiny? Is the price we pay in the form of effort and work in balance with the realisation of the life we envisage? Or are we the slaves of normative values in a consumerist market economy? In line with our individual answers, our experiences ought to turn into the kind of beliefs that will durably ensure our liberal-social life style in a prospering and fair society.

Being emotional connected to an investment because of the experience connected with it also means that the investment can be viewed from a different angle and result in a more multi-layered, socially compatible value. By including an emotional component to our investments, we create a more personal and generally more compatible VALUE LIFE BALANCE. A simple example taken from everyday life: if you invest in high quality food (organic, local, seasonal), you benefit directly and immediately through better taste/enjoyment (in the short term); at the same time, you will profit from the positive impact on your health (longer term). But you also positively influence the market with this type of consumer choice both by supporting the local economy and workforce and by promoting a responsible and sustainable use of resources. In other words: by investing in yourself and your environment you are doing something for yourself and for future generations. In working towards your personal VALUE LIFE BALANCE, the preferable choice is often nearer than you think.

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Four basic theses on the advantages of emotionally involved investments 1. Investments based on principles and ideals tend to be more socially viable and sustainable than investment of a purely financial nature.

With investments that are purely focussed on financial return, social or communal consequences tend to be secondary. It follows that the longterm benefit to society and our primary foundation, nature, is marginal at most.

At the other end of the scale we find emotionally involved investments which incorporate social factors and considerations and inherently contribute to a more sustainable, satisfied society and greater environmental compatibility.

2. Values and investments deemed to be safe lose long-term safety due a crisis-prone global financial system which is difficult to regulate and control.

Global debt levels have risen sharply. Any windfall in revenue is met by an increase in spending and hence an increase in debt. The industrialised nations have by now become great deficit sinners and (investment) banks, funds and speculators and their dealings are co-responsible for the loss of faith in the financial & economic sector and its leaders. Because of this distrust, values considered safe until now are increasingly viewed as unreliable. At the same time and linked to this, the wealth gap is growing larger, with as yet unpredictable social outcomes.

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3. Return, risk and benefit of traditional investment strategies are often disproportionate to real returns with a personally and emotionally perceptible added value for the investor.

In classical investment strategies, return and risk (of loss) are often in a disadvantageous relationship for the investor. Were they to invest in one of their true areas of interest, there would be a guaranteed personal, specific and social gain. These investments with a holistic approach should not be underestimated; their overall meta-economic value far surpasses a merely financial gain.

4. A personal and emotionally involved investment tends to benefit several parties in one’s own environment either directly or indirectly. Joy shared is joy doubled!

Generosity pays off, even if you are enjoying your new purchase on your own – which is hardly ever the case. Whether you treat yourself to a watch, a holiday apartment, a party or a culture trip: your environment will always benefit from it in one way or another. A satisfied person will transmit their contentment to his or her friends, family and event distant acquaintances.

Even people you only know several steps removed may benefit from it.

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Illustration: Eva Künzi ©2013

4. VALUE LIFE BALANCE PROFILING

Your meta-economic self portrait This profiling is meant to help you gain an overview of your personal preferences, values and visions as well as establishing your economic and social starting position as a whole. With this, you will create a meta-economic self-portrait. Your “Personal-VLB-Net” is your tool when searching and finding greater potential for your investment with a view to better quality of life and greater happiness; it will help you put your vision into practice.

Overview of Profiling Values Return in terms of passion and ideal values - Promoting your personal vision - Consolidating experience in your personal field of interest - Working on and fulfilling dreams Personal and social return - Social recognition - New contacts with new people - Extending your network Job and educational return - Increasing your knowledge base - Creating new knowledge networks (“Mastermind“) - Inner balance due to personal emotional gain Financial and economic return - Risks are more easily assessable - Money invested in real economy - Healthy financial return

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Return vs. risk Returns from emotionally involved investments are interesting because the related risk can be more readily assessed from the outset. This is because the expected return is not merely measured in terms of hard figures and does not constitute the sole measure of interest. From an economic point of view, one could also say that emotional investments are often (theoretically at least) written off, even though they might still have a value at the point in question.

Compiling your VLB profiling The following pages will allow you to create your own meta-economic investor profile.

Note: you may use your own written/semantic answers to fine-tune and supplement your profile. You won’t be able, however, to integrate these additions into the results.

Profiling example chart: Personal preferences Personal preferences/passions 1

1

10

X

Leisure activities 2

X

Personal goals 3

X

Overarching social vision 4

X

Total

40

2 0

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CURRENT STATE Personal data Age: Marital state: Children: Profession: Resident of: 1 = no/not important/n.a.

10 = yes/very important/present

Personal preferences Personal preferences/passions 1 Leisure activities

1

10

2

Personal goals 3 Overarching social vision 4 Total

*Key p. 46

Social characteristics (social status and influence) Social activities Political activities Responsibilities (e.g. children) Financial responsibilities within direct environment (e.g. children) Involvement in environmental issues Total

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DESIRED FUTURE STATE (e.g. in 5, 10, 20 years)

Age: Marital state: Children: Profession: Resident of: 1 = no/not important/n.a.

10 = yes/very important/present

Personal preferences Personal preferences/passions 1 Leisure activities

10

1

2

Personal goals 3 Overarching social vision 4 Total

Social characteristics (social status and influence) Social activities Political activities Responsibilities (e.g. children) Financial responsibilities within direct environment (e.g. children) Involvement in environmental issues Total

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Job Profile Job motivation

10

1

Career development Job performance Total

Assets & securities Real estate Tangible assets Pension fund & pillar 3 Cash assets Inheritance prospects Total

Risk & security profile Existing liabilities (mortgage, credits, loans) Willingness to take risks Total

How important is the consideration of your personal preferences to you?

Do you pursue different leisure activities and do you have enough time for them?

3 Do you have personal goals and does your current path promise success?

4 What is your idea of an ideal society and how do you contribute to this?

1

2

44

Job Profile Job motivation Career development Job performance Total

Assets & securities Real estate Tangible assets Pension fund & pillar 3 Cash assets Inheritance prospects Total

Risk & security profile Existing liabilities (mortgage, credits, loans) Willingness to take risks

Total

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Results To create the diagram, please calculate the sums for each heading in your questionnaire and then transfer the respective figures into the chart below. Once you have entered all the figures, simply connect the dots (cf. example below). Proceed in the same way for both charts (current/ future).

Example: Current state (today)

CES

PERS. PREFERENCES

PE

40 30 20 10

20

0

30

40

50

SOCIAL LIFE

RISK

0

20 10

0

10

0

VLB NET

20

30

40

50

SOCIAL LIFE

RISK

20 10

0

0 10

10

20 30 20

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Where your investments could be improved As before, enter your figures (current and future) into the chart. Use two different colours for clear differentiation between current and future profile.

Now use a third colour to colour in the space in between. This coloured area illustrates where there is the most potential for improving your investments and quality of life.

Example: VALUE LIFE BALANCE potential for optimisation (blue area)

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If it turns out, for example, that you would like more financial assets while at the same time do less, you can only resort to playing the lottery, hope to inherit or live more frugally. Be that as it may – I wish you exciting results and every success!

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Illustration: Eva Künzi ©2013

5. 20 INVESTMENT EXAMPLES WHICH PROMISE BETTER LONGTERM QUALITY OF LIFE AND HAPPINESS

The following pages will show you 20 investment examples that promise long-term, multi-layered emotional returns. The boundary between investment in the classical sense and consumer good get blurred in some of the examples below. This also means that these investments will generate more differentiated meta-economic profits which, if sensibly used, will be both economical and socially responsible. Be inspired, make your dreams come true and find your own happiness – with positive consequence for yourself and society!

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Photographie: Thomas Zwissig Š2013

INVEST IN YOURSELF!

“Self-employed people are happier, although they work harder, earn less and take greater risks”.

Bruno Frey 2009

Nothing is more valuable than independence. You decide for yourself whether you are going to save the world today or rather go hiking and enjoy the leisure time that comes with it. You decide whether it’s worth working 80 hours a week for a bit of extra material wealth or whether spending time with your loved ones or pursuing your passion is more important to you.

Start small and let your project mature. Step by step you’ll get closer to your ideal – and if you set off in a measured and considerate way your risks will remain calculable. Investing in yourself pays off in every respect.

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Photographie: Chris Wyer Š2013

CULTURE / LANGUAGE TRIPS

«Travelling leads us back to ourselves.»

Albert Camus

You love different cultures and languages? Why not combine satisfying your passion for discovery with learning a new language? It might an advantage in your job and open up new horizons – also in your private life. And who knows – maybe your luck lies somewhere “far away”.

Invest in your travel plans and in yourself. Travelling educates and can influence our personal story in a decisive way; it increases our understanding for various social situations and makes us more appreciative and careful of our occidental wealth – which again is of general social advantage.

Against the foreseeable social changes, cultural and linguistic competences are increasingly going to put you at an advantage in Europe. The old continent of Europe, which may well become the travel destination for 200 million visitors from China alone, expects to see many new visitors from emerging countries with growing middle classes. And those who are able to culturally and linguistically understand these new visitors will be able to profit personally and emotionally and, as the case may be, also on a financial level.

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Photograph: Sandro Bäbler ©2013

YOUR PROJECT

Now’s the time. Start on that personal project you’ve always wanted to undertake but have always found excuses for not doing! Build that model railway, visit Las Vegas (baby!), take a course in car mechanics or climb the Uetliberg. Invest in your passion. The emotional return in the shape of adventures and experiences over the years will be beyond compare with any financial reward. Because it’s something YOU did and you will not be among those who are forever boring others with all the things they would have liked to have done or might have done differently but, which, for all the wrong fears for security and promises of returns, they somehow didn’t do. Your sofa needs no protector and the usual Saturday shopping trip was yesterday. Now’s the time for your project!

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Photograph: Ueli Alder Š2013

HOMESTEAD (‘HEIMETLI’)

Sanctuaries of peace and quiet. Places of natural frugality. Dedicated to the values of the future. A homestead or a mountain cabin is a place for the soul and the conscience. The knowledge alone of having a place to retire to can have an extremely calming effect in times where our multi-option days can seem overwhelming. Based on their finite number and valuations predicted for the future, a homestead is likely to be a worthwhile financial investment. Apart from the benefits it has as a means of cultural preservation, it is of high social sustainability and economically transparent.

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Photograph: Chris Wyer Š2013

QUALITY TIME

Had your quality time today?

Take some time out to do what you like best. Whether it is a sleep-holiday, a long walk in nature (without mobile phone!) or feeling the wind around your nose on a boat trip. Admittedly, at a first glance this has little to do with financial investments. But if you look more closely, it may be exactly those hours of leisure that will contribute to your daily satisfaction and wellbeing, which in turn will make you take better and more valuable decisions for yourself. Both in your private and in your professional life. Go on and treat yourself to some ‘quality time’ instead of attending more unnecessary, largely empty and meaningless or even compulsive events.

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Illustration: Ata Bozaci «Toast» ©2013

ART

Life is serious; art is playful.

Friedrich Schiller

The right piece of art in the right place inspires. Whether for contemplation, as a conversation starter or simply as an aesthetic inspiration. Promoting and supporting the arts is not only laudable but also important: as a way of transmitting ideas, ideals and perspectives in a world influenced by mass media and networks, and for our visual, acoustic and sensory perception.

And what’s more: with a good eye for the right artist, art can generate added value both emotionally and financially.

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Photograph: Roger Burlet Š2013

CLASSIC CARS

A classic car is more than just a vehicle. Classic cars are among the most interesting technical and cultural inventions of the 20th century. Breathtaking designs, legendary races and technical innovation define the history of the automobile. The automobile was the digital revolution equivalent of the 1950s. Thanks to the car, it was suddenly possible to journey independently and anywhere with little effort and enjoy almost unlimited travel freedom. The success of the automobile made the car industry one of the biggest industry sectors and allowed car designers to produce ever more extravagant cars, which by now have become veritable treasures. Hence, classic cars in good condition are now being traded for several times their original value. They are not only a practical safe financial investment but offer an extremely high emotional return. Today, travelling by classic car is not only a treat to onlookers but to more so for the passengers. Sitting comfortably in their leather seats, watching their analogue dashboard, they can slow down and be kissed by the muse.

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Photograph: Jost Wildbolz Š2013

JEWELLERY

Jewels and precious stones are as unique as human beings themselves.

As far back as the Middle Stone Age, precious stones have enticed people and filled them with longing. Precious jewellery enchants almost everyone.

Whether as a present or for personal embellishment, higher powers willing, they can be the delight of generations to come. Besides the splendour of their aesthetic effect and their function as adornment, exclusive precious stones and metals are nowadays seen as safe long-term investments. So why not enjoy breakfast at Tiffany’s once in a while?

And remember to check the stones declaration to make sure they don’t hail from unethical production.

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Photograph: Dominique Batschelet Š2013

INNOVATION

Bristling with ideas? Always wanted to solve a particular problem in a certain area but never got down to it or never progressed on your own? Join forces with likeminded people, take the first step and figure out, where to start. Gaining experience, winning insights and new contacts will be your certain return. This may not financially measurable in the short term, but on a human level it is exciting and significant. Become a driver of the economy and of yourself: realise your innovation and baffle us. Follow your passion and rise above yourself!

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Photograph: Alessandro Fischer Š2013

SPORTS PROJECTS

Discover French wine routes on a bicycle; take part in the New York marathon; watch a Wimbledon final from the front row; or simply hike the ‘Weg der Schweiz’, or ‚Swiss Path‘. Whether active or passive: with some very few exceptions, sport tends to generate high emotional returns on your personal investments. For the most part, it requires no large financial investment and the social experiences cannot be measured in monetary terms either. And another pleasant side-effect is the investment in your own health. So: Just do it!

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Photograph: Fmoas Š2013

CULTURAL COMMITMENTS

Culture adds colour to the social fabric. What would life be without fine art, music, dance, literature, film and photography? It would be primitive and uniform, perhaps even dictatorial, but above all spiritually diminished.

It is thanks to the arts that we are encouraged to think and call traditional patterns into question and that we are able to rise above our daily life and habits. The arts offer us a way, on a smaller scale perhaps, of realising our dreams. Compose a symphony and have it performed for you; donate a violin to a Ukrainian orphan; start your own reggae band at the age of 62 or support an up-and-coming artist from your own circle financially or morally.

The conscious and passionate commitment to culture harbours a high inherent value, whether through the open and intense exchange with artists or the experience of the creative process by taking co-responsibility for a new piece of work. Wherever you get together with people creating something new, you are also working on your own life story – and that is invaluable!

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DIRECT CHARITY

The wealth gap is gradually getting ever wider and is slowly making itself felt in our society. In the long run, this development has negative consequences even for those on the wealthier end of the scale. The deteriorating quality of life is noticeable in the shape of social poverty, helplessness and criminality. Financial deterioration in our society often goes hand in hand with social down grading. No one benefits from this, on the contrary: it is an emotional and perhaps also financial burden on all those directly or indirectly affected. Try to be generous, if you can, and turn a blind eye ever once in a while – people will be grateful! True to the principle of hope, I scratch your back, you scratch mine. You may one day have to rely on someone lending you a hand.

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Photograph: Chris Wyer Š2013

A LAKE OF YOUR OWN

Scarcity of resources in the future? Not for the lake owner.

A lake of your own: a recreational paradise in summer, your own natural ice rink in winter. It is an investment that will write its own history and which could hardly be beaten in terms of the emotional value and experiences it offers. Whether you’re on your own, with your family or with friends – a lake will always benefit your loved ones, too. In the future, if you’re blessed with the natural resources of water, wood and land, you’ll never have to worry during hard times.

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Photograph: Eduard Meltzer Š2013

THROW A PARTY

“Most people mistake being present for experiencing.”

Max Frisch

Wine, (wo)men, and music are among our favourite human pleasures – and adage well understood already by the Romans. So why reinvent the wheel, when the good lies so near? What could be more pleasant than celebrating life for life’s sake? Here and now, spontaneously and directly. Without endless planning and preambles filled with expectations. You return on investment? Strengthened social cohesion and friendship plus your support of local businesses (wine merchants, butchers, farmers, entertainers). And besides: you are more than likely to be invited in return. Well then, cheers!!

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Photograph: Lucas Peters Š2013

TIME PIECES

The watch is a symbol of futility. At the same time it points towards the future and measures our scarcest good: time. Watches have always fascinated people and are being produced in the most varied forms (hour glasses, sun dials, automatic watches, chronographs) and for the most diverse purposes. Today, it is hard to find a more exclusive way of putting something into form than time by means of an exclusive watch, combining highest engineering skills with various design and precious materials. Quality time pieces by renowned watch makers tend to be long-term companions and fondly passed on to next generations. This lends them a very special increase in value and makes them an ideal investment that offers emotional added value and at the same time gives you pleasure throughout the day.

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Photograph: Peter Baracchi Š2013

WINE

Every wine connoisseur knows that “in vino veritas” – that there is truth in wine. Invest in this ancient and first-rate cultural good and stimulant!

The enjoyment of good wine in inspiring company is deeply rooted in our culture’s ‘savoir vivre’ and has led to many an important conversation, idea and vision. What can be more beautiful than to combine taste with cultural and social enjoyment? Delve into this cult and give yourself not merely to the pleasure of the senses but to new insights and acquaintances. If you are interested in the investment side of it, seek some advice: trade in distinguished wines is flourishing and professional connoisseurs are happy to help you.

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Photograph: Niklas Alm Š2013

ANIMAL SUPPORT

Animals are more than best friends or festive meals. They are a decisive element of the natural cycle of our planet. What if there were no more bees? Not only would there be no honey for our bread but our fauna would lose its equilibrium within a few years. We may not realise this enough, but: each animal species has its use and as human beings we benefit from it in one way or another. The better we take care of animal diversity and the more respectfully we treat it, the better we can preserve nature as it is and as we treasure it today. No matter how you choose to invest in animals (except, of course, as products or goods): you will create a value that will not only increase your karma but also benefit the natural and diverse cycle of life, thereby increasing contentment and happiness.

You could set up a foundation to save an endangered species; you could donate to your local animal shelter; you could start an organic trout-farm as a retirement project; or even just go for a walk with your dog: if, in a few decades, you wish to show real Saint Bernhard dogs, lions or tuna to your grandchildren rather than pictures on your iPad 8.0, your involvement matters.

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Photograph: Chris Wyer Š2013

FURNITURE

We can all think of an example: the favourite chair, unmatched in comfort and character; or the beloved family dining table, rich in tales of drama and joy; or one’s personally designed walk-in closet. Loved furniture tends to be in a loved environment and is a symbol, therefore, of one’s personal dedication and attitude. Pieces of furniture affect our wellbeing and personality for years and as our silent companions are well worth investing in. For the eye, for comfort, for one’s own life story. From a financial perspective, the return must be close to zero – unless you are buying selected design pieces or old craft. On the other hand, the risk is easy to calculate from the start and is all the easier to accept - for the benefit of comfort, aesthetics and personal expression.

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Photograph: Eduard Meltzer Š2013

DESIGN

Design can lead to happiness. With its purpose of connecting function to aesthetics, design makes your life and activities more enjoyable. You could have a chair designed according to your very own ideas (e.g. with an integrated wine cooler); or buy a unique piece of design purely for aesthetic reasons (e.g. a root wood bathtub); or even have your work tools made to your individual needs. Whatever it is you choose to do, the daily added value that comes with exclusive form or unique design generates a return that cannot easily be translated into money or replaced – especially in terms of the traditional definition of return.

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Photograph: Beni Blaser Š2013

SETTING UP A FOUNDATION

Give your personal passion a perspective for future development with the added benefit of financially protecting yourself! Set up a foundation that reflects and promotes your values. Depending on your vision and the type of direction you wish to take, the exchanges with the protagonists of your cause and with other patrons, related travels and experiences or simply the awareness of creating something which is doing good beyond economic motives, will allow you to generate a personal return beyond your expectations. Be a pioneer and create a future for your values and ideas. We need YOU!

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List of references Binswanger, Mathias „Warum mehr Einkommen nicht glücklicher macht. Die Tretmühlen des Glücks. Kontroverse um das Easterlin-Paradox“; http://www.oekonomenstimme.org/ artikel/2011/12/fuehrt-mehr-einkommen-zu-mehr-zufrie¬denheit--die-kontroverse-um-daseasterlin-paradox Bosshard, David „The Age of less“ Murmann Verlag 2011.

Buhse, Malte „Was Geld mit uns macht“; http://www.zeit.de/economy/geldanlage/2012-10/ oekonomie-geld-forschung-glueck-unglueck Frey, Bruno / Frey Marty, Claudia „Glück, die Sicht der Ökonomie“ Rüegger Verlag. 2010 Grundmann, Reiner / Stehr, Nico „Die Macht der Erkenntnis“ Suhrkamp Verlag 2011.

Lagarde, Christine „Interview-Zitat“ Handelszeitung, Nr. 51/52 2012 Reinhart, Carmen / Rogoff Kenneth „Dieses Mal ist alles anders: Acht Jahrhunderte Finanzkrisen“ Finanzbuch Verlag 2011 Sedlacek, Thomas „The Economics of Good and Bad“ Hanser Verlag 2009 Sedlacek, Thomas „Interview Sternstunde Philosphie“ SF1 07.2012.

Taleb, Nassim Nicholas „Der Schwarze Schwan: Die Macht höchst unwahrscheinlicher Ereignis¬se“ DTV 2012.

Tracy, Brian „Das Maximum-Prinzip“ Campus Verlag 2001 Thierbach, Paul „Auf dem Weg zu einer allgemeinen Theorie des Glücks“ Grin Verlag 2009 Aristoteles 384 - 322 v. Chr.

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Pictures sources Chapter Pictures Chap.1-5. Eva Künzi. ©2012/13 Accompanying illustrations Begleit-Illustrationen Page 8: Clémentine 98: AtaBozaci.

“Toast” Bozaci. Others Chris Wyer - ©2013 Chris Wyer. ©2012 /Girardeau.

Last page Page Ata «Toast» ©2013 Figures & charts Grafiken Fig. 1: Länder mit der höchsten Staatsverschuldung. Statista.de. Datum, 05.01.2013.

Quelle: http://de.statista.com/statistik/daten/studie/157855/umfrage/laender-mitder-hoechsten-staatsverschuldung/ Fig. 2: USA Schuldenbarometer. Stand. 07.01.2012. Quelle: http://www.usdebtclock.org/ Fig. 3: Drivers of Change. Wyer, Chris 2012 Fig. 4: Maslow, Abraham. Bedürfnispyramide. Quelle: http://www.wi.uni-muenster.de/is/aws60.de/hoffmann/beitrag.htm Fig. 5: Alte, neue Werte. Wyer, Chris. 2012 Theme-based pictures Investing in yourself: Photograph. Thomas Zwissig. ©2013 Your project: Photograph. Sandro Bäbler. © 2013 Homestead: Photograph. Ueli Alder. ©2013 Kunst: Illustration. Ata «Toast» Bozaci. Buchstabenarchitektur „Lucky Cat“. ©2013 Classic car: Photograph. Roger Burlet. Jaguar Mark VII, 1951. ©2013 Jewellery: Photograph. Jost Wildbolz. ©2013 Innovation: Photograph. Dominique Batschelet. ©2013 Your sports project: Photograph. Alessandro Fischer. ©2013 Cultural engagement: Photograph. Fmoas. ©2013 Charity in direct context: Photograph. Unknown. Sorry.

Have a party: Photograph. Eduard Meltzer. ©2013 Time pieces: Photograph: Lucas Peters. Gehstock-Uhr. 2nd half 19th century, from the series “Tickende Sonderlinge” (‘Ticking eccentrics ‘).Beyer Magazin Beyond ©2012.

Wine: Photograph: Peter Baracchi. © 2013 Animal Support: Photograph. Niklas Alm. ©2013 Setting up a foundation: Photograph. Beni Blaser. ©2013 Design: Eduard Meltzer. ©2013 All other images Chris Wyer ©2013

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About the author Chris Wyer, 1977, Master of Arts in Design, lives and works in Zurich. In his work as a strategic designer and consultant he develops holistic values, forms and visions for companies, institutions and private individuals. Integrating meta-economic issues is a central component of his concepts, whose aim it is to lead to results that will remain successful, attractive and socially responsible also tomorrow. Chris Wyer gives talks on these topics at schools and other institutions and is active in numerous and wide-ranging cultural and economic projects.

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96 Illustration: Ata «Toast» Bozaci ©2013

“They can show you the way but you must walk it yourself.”

Bruce Lee

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