UNIT OF ACCOUNT
FOR PEOPLE / LIFE / HUMAN CAPITAL
PEOPLE / QUALITY OF LIFE / LIVING COSTS / CONTRIBUTION TO SOCIETY
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Human Capital / Babies / Families / Healthy Food
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Quantification of HUMAN CAPITAL
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Quality of Life
Quality of life is the underlying 'raison d'etre' for everything that goes on in our modern enviro-socio-economic system, but there is not a very good way of measuring the state and flows of everything that goes into 'quality of life. Much of the measurement of the performance of the global enviro-socio-economic system has been measured using a money metric which has been assumed to have a strong correlation with quality of life. There is some truth in this for the 'bottom of the pyramid' (BoP) but this does not work at all well in richer societies. There are many components to quality of life, and they must all be optimized ... and for this relevant measures are essential.
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Living Costs
In order to be living, there are costs. Living costs are a mix of costs associated with things people need in order to survive, and then many levels of want that give rise to a better quality of life.
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Contribution
People are an integral part of the socio-enviro-economic system. They play an essential part in contributing to the functioning of the system. This contribution has many forms including:
- Being a parent ... parenting
- Being a worker ... an employee ... providing manual or brain power
- Being an employer ... organizing workers
- Being a consumer ... using the products ... goods and services being produced
- Being an artist and a range of other professions ... contributing to the culture of the society
Some of these contributions are measured by a money measure:
... for example, the pay of an employee and the payroll of the employer. In this example the money measure is a 'price' but there is no easy measure of the value of the contribution and the associated cost of the contribution.
Some of the contributions have always been without measure:
... for example, parenting by a parent. In this example there is no money measure, but there is strong scientific evidence that good parenting has a lifelong benefit for the child. This benefit is huge, and while parenting is very valuable it is given freely by parents though there are costs in doing so.
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For LIFE itself and for the human dimension of QUALITY OF LIFE
SANDARD LIFE UNIT
A unit of measure for quality of life may be driven by reference to the value of life itself. There is life, and there is quality of life. The value of life should not be directly related to a money unit, but be defined independently from money.
A standard life unit could be defined as 1 life = 1 million standard life units. Everything to do with quality of life is associated to this unit.
A new born has a value of 1 million SLUs
By the time a person is 100 this value of life has depreciated (straight line) to 0 ... that is a decline of 10,000 SLUs per year.
There is a cost to maintaining life, this is the basic cost of living. The unit of account for this is USD or another currency.
A person has the capacity for doing things of value. The is usually expressed in terms of job and the associated salaries and benefits for which the unit of account is USD or another currency.
A person often does things that are not paid for, even though these things ... like parenting ... have huge value. These should be valued in terms of SLUs.
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The Individual, Family and Friends
The individual, family and friends are a key part of the ecosystem that enables a decent quality of life. What constitutes a good quality of life may be subjective, but there is a difference between a good quality of life and a bad quality of life, and these should be optimized. There are important differences in cultures ... but there are issues that are either good or bad with respect to quality of life. There are interactions between individuals, their families and their friends that all go into making up quality of life.
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Ability, Parenting, Education, Skills and Experience
An individual starts out with some ability that has genetic origins, and this can be developed during a lifetime by good parenting, education, skills training and learning from experience. An optimized life is one where these inputs result in making the very best possible use of an individual's inate ability.
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Health, Wellness, Food, Nutrition and Lifestyle
An individual starts out with some genetic conditions that influence health and wellness, but an optimized life is enabled by appropriate healthcare, good nutrition from food, safe water, good sanitation, and healthy lifestyles.
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Shelter, Stuff that is Needed, and Stuff that is Wanted.
Shelter and stuff that is needed are essential. A better quality of life becomes possible when shelter is better and there is more stuff that is needed and some stuff that is wanted. At some point a better quality of life is not achieved by more shelter and more stuff.
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The Surrounding Society / Feedback from Social or Community Capital
The surrounding society has a huge effect on quality of life. It is the surrounding society that makes many things that are important for quality of life to be possible or impossible. It is the surrounding society that delivers security of various sorts or not. It is the surrounding society that provides for rule of law and things like physical infrastructure that enable an efficient economy. Social capital is the group version of individual human capital. Social capital has impact on individual human capital and individual human capital has impact on social capital. There is both a static and a dynamic dimension.
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The Surrounding Natural Environment / Feedback from Natural Capital
The surrounding natural environment may have a big impact on quality of life. It is the surrounding natural environment that makes many economic activities possible, whether this is agriculture because of fertile land, or commerce and trade because of navigable rivers, or mining and manufacturing because of mineral and energy resources that enable industry.
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The Surrounding People Built Capital / Feedback from Financial Capital
The surrounding natural environment may have a big impact on quality of life.
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Money Income and Wealth
Money income and wealth are not important to quality of life, per se, but the availability of money enables an individual or a family to buy things that are critical to the maintenance and improvement in quality of life. With money comes a freedom to do things that improve the quality of life for the individual, family and friends.
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The Surrounding People Built Capital / Feedback from Physical Capital
The surrounding natural environment may have a big impact on quality of life.
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The Surrounding People Built Capital / Feedback from Intangible Capital
The surrounding natural environment may have a big impact on quality of life.
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THE VALUE OF PEOPLE / HUMAN CAPITAL
THE PEOPLE ECONOMY ... QUALITY OF LIFE / STANDARD OF LIVING / HUMAN CAPITAL AND SOCIAL CAPITAL
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Human Capital / Babies / Families / Sports Team
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Navigation to -->
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MainNav
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SlideNav
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PROGRESS AND PERFORMANCE
THE PEOPLE PERSPECTIVE
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IMPROVING QUALITY OF LIFE
The purpose of everything should be to ... improve quality of life. It is the essence of humanity ... and should be the main measure of success.
An individual's wealth (financial capital) is only one contributing part of what makes up a person's quality of life ... an individual's human capital, but only a part.
Human capital in the present has been achieved by an individual's history … such things as parenting, nutritious food, good healthcare, good education, good surroundings, role models and so forth. Skills and experience are accumulated over time. There is a historic cost to getting these things, but the value accumulation is reflected in the present. Past earnings that are not spent but saved, factor into the human capital of the present.
Society or community also feeds into an individual's human capital. A society that has no violence and is supportive of an individual adds to human capital. A society where there is a future full of opportunity is also part of the state of human capital in the present.
The present value of the future depends on what the future looks like, but also depends on what the individual has done in the past to be in a position to take advantage of the future.
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COMPONENTS OF QUALITY OF LIFE
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GO TOP
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QUALITY OF LIFE
Many things go into quality of life ... history, the present and the future ... and a very wide range of social, environmental and economic elements
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Open L070-QL-QUALITY-OF-LIFE
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PEOPLE - THEIR VALUE, COST AND CONTRIBUTION
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PEOPLE ... THEIR VALUE
A person ... a human being ... has a certain intrinsic value. This value is not normally expressed in money terms, in fact it is rarely numbered in any way at all.
An individual human life has a huge value. Young mothers often describe the value of their new baby as being 'priceless'.
For the purpose of numbering ... a human life may be assigned a value of 1,000,000 ... that is one million. This is not a million units of currency (e.g. dollars) but a specific measure related to human value or human capital.
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PEOPLE ... THEIR COST
A person cannot survive without some basic needs ... food, water, shelter, clothes and some other supplies. These are the basic costs of human survival.
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PEOPLE ... THEIR CONTRIBUTION
A person has capabilities that are able to be used in order to do things that enable needs to be satisfied.
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THE TVA DYNAMIC OF PEOPLE AND THEIR QUALITY OF LIFE
THE CHANGES THAT HAPPEN OVER A LIFETIME
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STAGES OF LIFE
A person lives a lifetime ... maybe short or long. The dynamic of a person's life changes over time depending on their stage in life.
When a person is born, all of this person's life is in the future. When a person is old, most of life is behind ... in the rear-view mirror. Very different components go into an understanding a person's value as the years pass from being born to being a senior and going through a series of stages.
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CHILDREN / YOUNG PEOPLE
A concept that has tried to put 'value' onto an individual ... but usually from a wrong perspective
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WORKING AGE ADULTS
A concept that has tried to put 'value' onto an individual ... but usually from a wrong perspective
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POST WORK SENIORS
A concept that has tried to put 'value' onto an individual ... but usually from a wrong perspective
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SEGMENTATION OF THE POPULATION (I)
DIFFERENT WAYS PEOPLE GROUP TOGETHER
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DEMOGRAPHIC SEGMENTATION
People do different things and have different needs and priorities. Segmentation to understand this is essential to manage for better outcomes and less inequality. Different people have different interests. Basic needs are similar, but wants change between different classes of people.
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AN INDIVIDUAL
Every individual should be a positive part of the global system ... everyone ... not just those with wealth and power and therefore influence!
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GO SlideNav-for-TVA#PEOPLE
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THE FAMILY
Family has been an important component of society for thousands of years ... and still important!
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FRIENDS
Almost as important as family ...
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COMMUNITY
An important part of the foundation for quality of life ...
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SOCIETY / SOCIAL CAPITAL
Another manifestation of community ... bigger / broader.
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SEGMENTATION OF THE POPULATION (II)
DIFFERENT GOALS FOR PEOPLE DEPENDING ON STATION IN LIFE
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EMPLOYEES / WORKERS / HUMAN CAPITAL
A concept that has tried to put 'value' onto an individual ... but usually from a wrong perspective
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C-SUITE DECISION MAKERS / DIRECTORS / TOP MANAGERS
A concept that has tried to put 'value' onto an individual ... but usually from a wrong perspective
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BANKERS / INVESTORS
A concept that has tried to put 'value' onto an individual ... but usually from a wrong perspective
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CONTRIBUTION
THE CHANGES THAT HAPPEN OVER A LIFETIME
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INCOME PRODUCING ACTIVITIES
A concept that has tried to put 'value' onto an individual ... but usually from a wrong perspective
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RECREATION
A concept that has tried to put 'value' onto an individual ... but usually from a wrong perspective
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PERSONAL FINANCE
BUILDING MONEY WEALTH AND FINANCIAL SECURTY
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PERSONAL FINANCE
Personal financial issues are not well understood by most people ... and massive amount of exploitation by banks, corporates and business in general.
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THE ROLE OF WEALTH
An individual's wealth (financial capital) is only one contributing part of what makes up a person's quality of life ... an individual's human capital, but only a part.
Human capital in the present has been achieved by an individual's history … such things as parenting, nutritious food, good healthcare, good education, good surroundings, role models and so forth. Skills and experience are accumulated over time. There is a historic cost to getting these things, but the value accumulation is reflected in the present. Past earnings that are not spent but saved, factor into the human capital of the present.
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PEOPLE NETWORKS AND CONNECTIONS
IMPORTANT FOR GETTING THINGS DONE
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PEOPLE / NETWORKS / CONNECTIONS
Networks and connections have always been important ... but have much more importance in the modern very connected world
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Open L0200-PEOPLE
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PEOPLE
Some of the people that have had or are having some influence on the development of TVA ... for good and bad
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Open L0200-PEOPLE
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PEOPLE / CONNECTIONS ... Burgess Linkedin Connections
Peter Burgess Linkedin Connections ... family name alphabetical ... several thousand
| Open list 0600L-Alphabetical
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THINKERS
NAVIGATION TO THINKERS / PEOPLE ... THOUGHT LEADERS ... in ALPHABETICAL SEQUENCE
| Open L0200-THINKERS
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Quality of Life(TO COME)
Quality of Life
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Spiritual Capital (TO COME)
Spiritual Capital
| TO COME
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Measuring Human Capital (TO COME)
Measuring Human Capital
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Perspective(TO COME)
Human Capital is valued from the perspective of the individual. This is not the same as the value of human capital from the employer perspective.
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A person's history (TO COME)
A person's history factors into the value of human capital. It is history that has enabled the present and opens the potential of the future
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A person's surroundings(TO COME)
A person's surroundings together with history factor into the value of human capital. It is surroundings that influence the state of quality of life in the moment.
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A person's future surroundings(TO COME)
A person's future surroundings together with a person's history factor in the opportunities and future potential ... which when discounted back to the present are a part of the present state of quality of life
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The Value of People from the perspective of the Company
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Company ... Pategonia ... The Value of People
Patagonia: The Incomparable Authentic Brand ... Excerpts from a book by Marc Stoiber
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Open file 9146
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COMPONENTS OF SOCIETY / SOCIAL CAPITAL / HUMAN CAPITAL
There are many things that go into a good society and one where human capital can be at its best. These things have rarely been quantified, no matter how important they are to quality of life.
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