Virtus – The New Frontier – Creating new jobs, businesses, and investments in the new millennium

Author Behrad Foroughizadeh takes on a large task in Virtus: The New Frontier by analyzing the current financial state of the world, the problems we’re facing, and suggesting a new economic model for the future. The Great Recession of 2008 created unprecedented job disruption, from mass layoffs to greater offshoring, yet even greater profits for the multinational corporations, and still no lasting restriction on investment products that might be, forestall a repeat of the same systemic failure of 2008. But, Virtus is not just an analysis of past economic issues; it’s also an encompassing vision of a different economic system that rewards investment in businesses based on job creation and societal benefits directed at benefiting society as a whole.

Foroughizadeh makes a strong case for the brokenness of the current system and the weaknesses it causes for American and world financial health. The points are well documented with citations that support his thesis, yet this doesn’t become a strictly academic treatise. It is from this basis that he heads into theory of a new economic model, one that puts people and society on an equal footing with corporate profits and growth. The basis for much of his theory is the accelerating technology changes, from the Internet and mobile devices to virtual money, nanotechnology, and emerging nations. His solution is an evolutionary one, moving over time to an economic system called Virtus–Value-Based Baseline Evolutionary Economic (Prosperity) Model. The model calls for changes across many disciplines, from economic (obviously), to political and business culture.

Creating a values-first society does require fundamental change from the free-market. But the seismic shift created by the Internet and new technologies is beginning to move more of the power to individuals and passionate groups over “AstroTurfed” organizations. However, this shift is also dependent on openness and transparency on the Internet, something that more repressive regimes have begun to crack down on, including moves to create country-specific Internet cut-offs from the wider world’s. While Foroughizadeh doesn’t make any ideological pronouncements or judgments of his own, the concept of an economic theory based on value to society can lead the reader to certain judgments of their own. Additionally to the technical evolution, Foroughizadeh also addresses, among other topics, the devastating effects of climate change, failed states, and mass human migration will have on the future and how changing the economic values system will also help address those current and upcoming challenges.

Virtus is an interesting look at a very complicated topic, and is written well enough for a general audience, but documented well enough to provide further reading through the many citations and footnotes. As for how practical the concept is, that depends on the future. But this is an important conversation starter about solutions to economic problems that haven’t “fixed” themselves and appear to only be getting worse for a majority of the citizens of the world. Virtus is an important overview of the many challenges the world is facing and provides an economic solution to facing and meeting them.