An #economicsystem based on #community, not on rapacious #profit—that is what a vow to support #MotherEarth requires. That is a twenty-first century version of the monastic vow of #poverty. #NewMonasticism #VoluntarySimplicity bit.ly/4k1KUr6
#EconomicSystem
The founding of the world's largest cooperative and the vision of its founder - employee ownship, not state or corporate ownership, of economic power.
Find out more at: https://www.elysian.press/.../the-cooperatist-manifesto...
#Prout #Mondragon #Cooperative #Economics #Power #EconomicSystem
You may consider reading my post [https://hachyderm.io/@srijit/114041629339916466] regarding my attempt to explain capitalism to a high school student and the corresponding responses from @RD4Anarchy.
I must add that the replies from @RD4Anarchy are more intriguing and thought-provoking than my own.
#Capitalism #EconomicSystem #EconomicSystems #EconomicFreedom
[Part 2/2]
My attempt to explain capitalism to a high school student
Major drawbacks of capitalism that can affect society
1. In a capitalist system, wealth tends to accumulate in the hands of a small percentage of the population, and this can lead to a wide gap between the rich and the poor.
2. Successful companies can usually become so powerful that they dominate the market, allowing them to charge higher prices to consumers.
3. Capitalism can encourage greed i.e. the pursuit of profit in capitalism can sometimes prioritize making money over making decisions that may benefit society as a whole.
4. Capitalism, with its focus on profit, mostly overlooks the environmental impact of production. This can lead to overproduction, pollution, and other harmful effects on the environment and climate that affect everyone.
5. Often people are rich, simply because they inherit wealth or are born into a privileged class. Therefore, capitalist society can not only fail to create equality of outcome but also can also fail to provide equality of opportunity. Societies which are highly unequal create resentment and social division.
Reference: https://www.imf.org/external/pubs/ft/fandd/2015/06/basics.htm
#Capitalism #EconomicSystem #EconomicSystems #EconomicFreedom
[Part 1/2]
My attempt to explain capitalism to a high school student
Economic system
An economic system is a way that a country or society organizes and manages its resources, such as money, goods, and services. It's like a set of rules and practices that determine how people earn money, buy and sell things, and make decisions about what to produce and consume.
Economic freedom
Economic freedom means having the ability to make your own choices about how to earn money, buy and sell things, and make decisions about what to produce and consume. It is the freedom to participate in economic activities without unnecessary restrictions or interference.
Capitalism
Capitalism is an economic system where people can start their own businesses and make decisions about what to produce, how much to charge and where to sell their products. In this system, capital assets (e.g. factories, mines, rail, roads, ports etc.) can be privately owned and controlled by individuals or private companies and labour is purchased for money wages.
Profit is the money a business earns after paying for all the costs involved in producing and selling goods or services. The primary goal of capitalism is to make a profit (need not be as much profit as possible) by selling goods or services. This profit motive drives competition among businesses to be the low-cost producer of a certain good and to switch production to more profitable goods if necessary.
Economic freedom and capitalism
Economic freedom is not only related to capitalism. Other economic systems also provide economic freedom to varying degrees. Economic freedom is important because it encourages innovation, entrepreneurship, and economic growth. When individuals and businesses have the freedom to make their own economic decisions, they are motivated to work hard, take risks, and come up with new ideas. This leads to the creation of new businesses, job opportunities, and improvements in the quality of goods and services.
Reference: https://www.imf.org/external/pubs/ft/fandd/2015/06/basics.htm
#Capitalism #EconomicSystem #EconomicSystems #EconomicFreedom
Christheraven comments on this article in the Guardian: "It's the expected result of our economic system and our failure to regulate obscene wealth concentration. We need to set out and clearly explain an alternative and then be prepared to fight vested interests who don't want the current system to change."
#ElonMusk #democracy #DemocracyVsAutocracy #economicsystem #wealthinequality
#ThomasPiketty: 'It's time for the #left to get back to describing the alternative #EconomicSystem to which it aspires'
https://www.lemonde.fr/en/opinion/article/2024/07/13/thomas-piketty-it-s-time-for-the-left-to-get-back-to-describing-the-alternative-economic-system-to-which-it-aspires_6682965_23.html
#Economics #Politics #Society
The Rise of Mesoeconomics https://www.project-syndicate.org/onpoint/mesoeconomics-study-of-networks-supply-chains-key-to-successful-industrial-policies-by-william-h-janeway-2024-05
"…what #mesoeconomics offers to #policymakers is the information needed to guide targeted interventions designed either to increase the resilience of the #economicSystem on the supply side, or to enable effective responses to legitimate extra-market demands. That information necessarily includes a mapping of economic #networks to identify potential vulnerabilities and bottlenecks."
#economics
My attempt to explain capitalism to a high school student
Economic system
An economic system is a way that a country or society organizes and manages its resources, such as money, goods, and services. It's like a set of rules and practices that determine how people earn money, buy and sell things, and make decisions about what to produce and consume.
Economic freedom
Economic freedom means having the ability to make your own choices about how to earn money, buy and sell things, and make decisions about what to produce and consume. It is the freedom to participate in economic activities without unnecessary restrictions or interference.
Capitalism
Capitalism is an economic system where people can start their own businesses and make decisions about what to produce, how much to charge and where to sell their products. In this system, capital assets (e.g. factories, mines, rail, roads, ports etc.) can be privately owned and controlled by individuals or private companies and labor is purchased for money wages.
Profit is the money a business earns after paying for all the costs involved in producing and selling goods or services. The primary goal of capitalism is to make a profit by selling goods or services.
Economic freedom and capitalism
Economic freedom is not only related to capitalism. Other economic systems also provide economic freedom to varying degrees. Economic freedom is important because it encourages innovation, entrepreneurship, and economic growth. When individuals and businesses have the freedom to make their own economic decisions, they are motivated to work hard, take risks, and come up with new ideas. This leads to the creation of new businesses, job opportunities, and improvements in the quality of goods and services.
Major drawbacks of capitalism that can affect society
1. In a capitalist system, wealth tends to accumulate in the hands of a small percentage of the population, and this can lead to a wide gap between the rich and the poor.
2. Successful companies can usually become so powerful that they dominate the market, allowing them to charge higher prices to consumers.
3. Capitalism can encourage greed i.e. the pursuit of profit in capitalism can sometimes prioritize making money over making decisions that may benefit society as a whole.
4. Capitalism, with its focus on profit, mostly overlooks the environmental impact of production. This can lead to overproduction, pollution, and other harmful effects on the environment and climate that affect everyone.
5. Often people are rich, simply because they inherit wealth or are born into a privileged class. Therefore, capitalist society can not only fail to create equality of outcome but also can also fail to provide equality of opportunity. Societies which are highly unequal create resentment and social division.
Topics not discussed
1. Rent
Reference: www.imf.org/external/pubs/ft/fandd/2015/06/basics.htm
#Capitalism #EconomicSystem #EconomicSystems #EconomicFreedom
My attempt to explain capitalism to a high school student
Economic system
An economic system is a way that a country or society organizes and manages its resources, such as money, goods, and services. It's like a set of rules and practices that determine how people earn money, buy and sell things, and make decisions about what to produce and consume.
Economic freedom
Economic freedom means having the ability to make your own choices about how to earn money, buy and sell things, and make decisions about what to produce and consume. It is the freedom to participate in economic activities without unnecessary restrictions or interference.
Capitalism
Capitalism is an economic system where people can start their own businesses and make decisions about what to produce, how much to charge and where to sell their products. In this system, capital assets (e.g. factories, mines, rail, roads, ports etc.) can be privately owned and controlled by individuals or private companies and labor is purchased for money wages.
Profit is the money a business earns after paying for all the costs involved in producing and selling goods or services. The primary goal of capitalism is to make a profit by selling goods or services.
Economic freedom and capitalism
Economic freedom is not only related to capitalism. Other economic systems also provide economic freedom to varying degrees. Economic freedom is important because it encourages innovation, entrepreneurship, and economic growth. When individuals and businesses have the freedom to make their own economic decisions, they are motivated to work hard, take risks, and come up with new ideas. This leads to the creation of new businesses, job opportunities, and improvements in the quality of goods and services.
Major drawbacks of capitalism that can affect society
1. In a capitalist system, wealth tends to accumulate in the hands of a small percentage of the population, and this can lead to a wide gap between the rich and the poor.
2. Successful companies can usually become so powerful that they dominate the market, allowing them to charge higher prices to consumers.
3. Capitalism can encourage greed i.e. the pursuit of profit in capitalism can sometimes prioritize making money over making decisions that may benefit society as a whole.
4. Capitalism, with its focus on profit, mostly overlooks the environmental impact of production. This can lead to overproduction, pollution, and other harmful effects on the environment and climate that affect everyone.
5. Often people are rich, simply because they inherit wealth or are born into a privileged class. Therefore, capitalist society can not only fail to create equality of outcome but also can also fail to provide equality of opportunity. Societies which are highly unequal create resentment and social division.
Topics not discussed
1. Rent
Reference: https://www.imf.org/external/pubs/ft/fandd/2015/06/basics.htm
#Capitalism #EconomicSystem #EconomicSystems #EconomicFreedom
@atthenius @mathieu_caron
I think, Mathieu raises the question why hard sci climate researchers don't speak up about the #EconomicSystem that keeps eating away at the #PlanetaryBoundaries of what human activities the planet can sustain and still maintain a global tech civilisation.
#ClimateChange is ofc only one of these boundaries. But the underlying problem to overstepping all of them is the economic system and its concepts that have perverted the cultural norms in G-North so much so that upholding the voluntarianisms, the laissez-faire [for the rich] is more important than keeping a habitable, global civilisation-sustaining environment. G-North is the villain here, bc it has imposed its system and culture everywhere, except North Korea. ^^
Hard-sci cli-sci are the go-to-people for all things climate.
I say, unfortunately, because they generally don't speak up about the systemic reasons for the physical extremes humans are pushing the planet into.
Some do. Like the late #WillSteffen
But it'd be the duty for all hard sci scientists to do so.
You know that there is something wrong with our #EconomicSystem and #society when #repairability and #modularity become a feature instead of a liability.
What are some of the harms caused by capitalism? Can these harms be addressed by replacing for-profit corporations with cooperatives? What are some of the benefits of capitalism? Can these benefits be preserved if for-profit corporations are replaced with cooperatives?
I'd love to discuss this with folks who are interested. Please boost & reply if you are.
#Cooperatives
#Capitalism
#Economics
#PostCapitalism
#EconomicSystem
🥥 When is an epic #disaster a #metaphor for an #EpicDisaster?
Maybe when the #EconomicSystem has been engineered to produce more disasters all the way down. 🥥
#Billionaire propaganda really has people out here who believe in the evidence-free religion of #InfiniteGrowth economies & the wet dream of mining #Mars rather than just creating an #EconomicSystem that meets the needs of humanity while protecting our limited resources
It’s always good to take at least one day a year to pause, reflect and consider our work still to be done. #MartinLutherKingJr #politics #justice #economicsystem #service #education
To state a soon old demand, we really need to move beyond #GDP as a measure of "success". We are producing ourselves to hell. The planet is suffering, workers are suffering, wealth so unevenly distributed. Who is working on alternative models? #economicsystem #economicmodels #politicaleconomy I would love to connect
Introducing students to surveillance capitalism today. It’s a fascinating challenge to illustrate the water in which they swim. Suggestions welcome! #SurveillanceCapitalism #data #economicSystem #dataSocialism #privacy #DataEthics
> .. if you read the document, it’s very clear in calling for a different #EconomicModel, and it’s a challenge to what #PopeFrancis calls our #ThrowawayCulture. So they want to make sure that the parts of the #encyclical that really do represent the deepest challenge to our current economic system and represent the most hope for the people who are excluded from the benefits of that #EconomicSystem are really highlighted.
https://www.democracynow.org/2015/8/4/naomi_klein_on_visiting_the_vatican
#NaomiKlien #LaudatoSi
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