The greed, or motivation, for money as a material substance and as a means to an end conflicts with the greed for knowledge (active-mindedness and self-criticism) and the greed for love (love of society, self, or relationships) as ends in themselves. It is not the greed for money that we need, but the greed for relationships with others, that is, the greed for ourselves. Money is rational and not balanced with emotions; money is incomplete. There is no human emotional element inherent to money. Money takes attention away from humans, but emotions center on humans, help make us human, and thus also complete money. Money alone is coming from an artificial apparatus, that is, a machine. But the value of money can lead toward the value of being a human and into the competence for making value – the competence of transcending as a mean to a feeling, transient, and humane end.
Humans are on their way to uniting through the industrial and highly technological environments. The creative humans are building and becoming the great machine that is society, the society that is based on objective, transparent, and impersonal system of justice, which is based on life. This is a huge project. And once the society’s menial processes are automated and its laws are reinforced by the political ideology I propose,–the political center, or its mind,–the social body will be able to direct its soul and will thus form a unified consciousness. Emotional economy (E) is the only way provided right now to help humanity convert society into the superconscious machine. E may be viewed as a communication network for all the living processes within and between societies. It can serve as a circulatory system operating at a particular frequency and enabling communication from peripheral to central processing units of society.
Once so, everyone can be a free individualist or a transhumanist in a broader, social sense. Even though individualism and transhumanism are already proclaimed to be universal and are spreading, they are universal only when applied to society as a whole because within society everyone has a choice whether to support them or not. Only as a society can the greatest of our ideologies rain supreme. For without the social center to unite them, there would always be other ideologies in existence that would cause more strife and disagreement. Yet this one is different, for it provides the shared center. It is an economic theory more than a particular, and thus limiting, way to think and live.
If emotional currency is in conflict with anything (including money), then it has a problem. If it can replace money without conflict, then there is no problem. If it is the best means to achieving our happiness, then that’s what we want. We simply need to add humaneness to the economic sphere, add a heart, a vibrant, qualitative, and lively energy of emotions to the frozen, cold, quantitative, and logical energies of monies (or gold or equivalent material values).
Emotional currency will also add a healthy competitive/cooperative edge to personal relationships. I should note that money cannot apply to personal relationships, at least for non-Objectivists, as the research by Michael J. Sandel has shown. If you love competition, also, why not let emotional currency compete with the monetary one and see which one wins in the long run? Although I do not have authority and am only one mind, what I have to say deals with everyone, and ultimately, I think, both currencies will survive, but it will change our thinking and the way we live our lives for the better.
Implementation and implications
The first thing that we must do to make this a reality is to change our thinking from purely monetary to additionally emotional because many world problems are caused by the current economic system, as shown in many documentaries, such as Zeitgeist: Moving Forward (2011). The transitioning to the new economy will only eliminate problems in the long run when everyone will get used to the new system. The implementation will be in stages and in specific locations. Since the emotional currency can only be genuine and everyone will start out equally with zero reputation, money cannot be converted into emotions unless by selling already owned property for emotional credits. But everyone can start living in the two currencies to the point when the emotional currency will cover every aspect of human relations in the world.
The emotions that control the economy will be controlled by rational minds without conflicts. Together we can make it a coherent reality. The new economy becomes a market of untapped potential – a new marketing system will have to be designed for it. Managers, attracted by the supporters of the system, may issue savings coupons to customers with bracelets, thus differentiating their businesses from the purely monetary ones of their competitors. Talented, competent individuals and entrepreneurs who believe in E-Capitalism will compete with businesses of M and will convince them to take emotions to the new system.
There are Objectivists whose thinking is congruent with what I am proposing. Here is an excerpt from Alex Epstein’s manifesto: “Development, industrial progress, and capitalism promote a human environment . . . With industrial progress as our ideal, and with policies that fully respect property rights and fully allow free markets, the brilliantly talented individuals of this great country can lead us to the next industrial renaissance and an ever-improving environment.”
That is also called The Third Industrial Revolution that is sustainable and empathetic. And thus shall be built the new emotional industry. Additional organizations with parallel views are New Economics Foundation/New Economy Coalition, the New Value Movement (especially knowledge-based, respect/trust-based, and creativity-based economies), and the Thrive Movement. Everything is going towards this. Are you a part of the transition?
One remembers that economy is the soul of society. We want a friendly society and a free economy. We do not need a conflict between Democrats and Republicans, Marxists and Objectivists. The answer is Emotional economy because emotions help make us human. This is the time for collaboration between Democrats and Republicans, Objectivists and non-Objectivists, no matter who you are. This is the future.
First, we need to fund the development of bracelets through HeartMath.
Then, we need to create a subsidiary of the Federal Reserve that will be the National Emotion Bank (Neb). A preliminary website will be created that will provide access to bracelet owners and a reputation ladder to be displayed publicly only with consent.
Third, we need to create a monetary business for manufacturing these bracelets and brainstorm the ways of designing and implementing the content management system and its promotion. The bracelets can be made in different colors, or we can even put watches on them with number pads to key in public account numbers that will be available in the later generations. The goal with the business is to give bracelets away with no payment required or at least make them very inexpensive and affordable. That’s also why the governmental and public support is crucial.
Last, we will need to get these bracelets and start using them by converting as many of our relations to emotional as possible. It can become like a new game between friends, lovers, and family at first and businesses and countries (other Nebs) at a later, global stage of development, when the creation of the Global Emotion Bank will be possible.
 To reiterate the functions of our brain and heart: metaphorically, brain provides the spark, heart – the wood for burning; mind initiates, soul experiences. This constitutes consciousness being inseparable from the body.