The Pie Philosophy 

How does it work?

The world’s resources are like a pie and everyone has to share. Some people get more than others, and we all have to fight if we want to get more. The pie philosophy is at the core of modern capitalism.  

What are the benefits?

It depends on how much of the pie you have. Some people are born with more, some less. Some acquire a lot. Others find themselves losing their share. However, the idea does promote both competition and creativity.

What are the drawbacks?

The Shared Pie Philosophy focuses on how limited resources are and gives rise to unnecessary restrictions for capitalistic gain. There is enough food in the world to feed 1.5x the human population, yet nearly a billion people go without food every day because of greed and a false sense of scarcity.

The Karma School

How does it work?

Essentially, everything in the karma philosophy comes down to this: what you put into life is what you get out of it. Money movements like “Think and Grow Rich” illustrate the karma school. 

What are the benefits?

The karma philosophy rewards effort. This means people are more likely to try and create value for others with the hope that it will be rewarded. This shows a fundamental trust in the world and other people, which is necessary for a functioning economy.

What are the drawbacks?

Some strange beliefs about how the world works have arisen from the karma school. For example, there’s an idea out there that wealth can be ‘manifested’ through thought alone, which is nothing but wishful thinking. It can also make people feel as though there’s something wrong with them when they are inevitably unable to bend the universe to their will, which only winds up perpetuating money anxiety.

The Machine System

How does it work?

The economy is a like a grid and we’re all born into a certain location on it. We can sort of move up or down a few places, but we’re pretty much set. Some people are just more fortunate than others. The machine system is prominent in academic spheres because it’s based on Foucault’s core beliefs about socioeconomics. It’s also the newest philosophy, but has existed for centuries in forms like inheriting the family business, or someone going into the same profession as a parent.  

What are the benefits?

The machine system can help us gain clarity about our current position and tell us how far we need to go to reach our goal destination on the grid. It can also help us feel more connected to those who are positioned closely to us. 

What are the drawbacks?

Those who believe in the machine system rarely stray far from where they were born both socially and economically. The core idea presumes permanence, which is erroneous since we know that how things are isn’t necessarily how things have to be. And people defy it all the time. The place we’re born into in life should always be just that - a starting point. 

The Mindfulness Approach

How does it work?

The mindfulness approach treats everything around us - including money - as a garden to be cultivated and enjoyed. The resources regrow when we tend to the garden properly and consistently. This approach has been relied on for centuries by wealth practitioners, and even forms the basis for the moral of Voltaire’s Candide (“One must cultivate one’s own garden”).

What are the benefits?

Mindfulness takes us into the details of our personal beliefs and ideas. It can give us insight into ourselves that none of the other philosophies is capable of providing. Gaining clarity over our thoughts can help reduce money anxiety. 

What are the drawbacks?

Mindfulness isn’t a natural state for most of us to be in, and so many of us find it difficult to reach a place of calm without consistent practice. Mindfulness also requires consistently, daily actions, which many people find difficult. However, the good news is that mindfulness can be used to create new habits and build positive associations with daily actions so that what was once difficult can become easy.