Social Mobility Convexity

The digital age, characterised by its instant transparency and global connectivity, had promised to democratise opportunities and level the playing field. Instead, we have encountered an amplification of success to unrealistic levels, creating a chasm between expectations and reality. This digital distortion presents a facade of success that seems achievable by all yet is realistically attained by few, fostering discontent and a sense of betrayal against the monetary systems that were supposed to ensure fairness and upward mobility.

This digital disillusionment prompts a deeper examination of the monetary social contract. The implicit agreement that hard work and adherence to societal norms would guarantee economic stability and upward mobility is now under intense scrutiny. The pathways to success are perceived as increasingly exclusive, leading to a sense that the social contract has been breached. This perception does not necessarily stem from diminished opportunities but from inflated expectations of what is achievable. This stems from a gap between exponential expectations set in the digital age and the linear or stagnant reality of social mobility for many.

As traditional paths to upward mobility become fraught with barriers, there is a gravitation towards systems that promise rapid wealth accumulation, albeit with heightened risks. Hypercapitalism, thriving on the exploitation of new technologies, markets, and labor, often exacerbates the inequalities fueling discontent. Yet, its allure lies in the perceived opportunity it offers—a chance to leapfrog into financial success through innovation, investment, or "entrepreneurship" in the digital economy.

The increase in gambling as a metaphor for emerging financial behaviours reflects the growing desperation to find alternatives to a system perceived as rigged against the majority. The allure of quick wins speaks to the desire to escape the stagnation of traditional economic pathways. This trend is symptomatic of a broader societal gamble: the search for success and stability outside the norms prescribed by the existing social contract, driven by the perception that the conventional system offers no real chance for advancement to a standard they can see.

The inevitable turn towards cryptocurrency can be seen as part of the response to disillusionment with traditional monetary systems. Cryptocurrencies promise a decentralised and democratic financial landscape, free from the control of central banks and government policies, which many believe have failed to provide economic stability or fair opportunities for wealth accumulation. This digital currency system appeals to those disillusioned by the traditional monetary social contract because it embodies the ethos of innovation, autonomy, and leveling the playing field characteristic of the digital age. It represents a departure from a system where success and financial stability seem increasingly out of reach for the average person.