So we have had numerous threads on Capitalism and Socialism.
What other economic systems in the world of thought that aren’t getting much attention?
How about guild systems? Let the workers own the means of production communally, and train their own workers.
Do I have the depiction right?
Anyone have any new ideas on how to run an economy?
Looking for history and brainstorming here.
mrn
Corporatism is similar to the guild system. The ‘upgraded’ form of it, if you will.
Personally, I think that a mix of capitalism and socialism has had the best results. A good blend of human interest as well as not having the supply problems that pure command economies have. I do have a soft-spot for corporatism, but given the sort of regimes that corporatism has been associated with, I am confident in saying that it is an experiment best left to the annals of history.
So, I’d say I’m economically a fan of the Freiburg school/ordoliberalism.
en.wikipedia.org/wiki/Freiburg_School
There is a book on economics I have been meaning to check out, but I haven’t read it yet, so I’ll stick with my mixed-market model for now.
I say we all just go and live in the forest, leaving the factories that we created to decay and the people surviving on life support to die.
Not really a system, but I’m going with the “American School of Economics” as the most successful:
en.wikipedia.org/wiki/American_S … mic_system
In a nutshell:
The American School includes three cardinal policy points:
Support industry: The advocacy of protectionism, and opposition to free trade - particularly for the protection of “infant industries” and those facing import competition from abroad. Examples: Tariff of 1816 and Morrill Tariff
Create physical infrastructure: Government finance of Internal improvements to speed commerce and develop industry. This involved the regulation of privately held infrastructure, to ensure that it meets the nation’s needs. Examples: Cumberland Road and Union Pacific Railroad
Create financial infrastructure: A government sponsored National Bank to issue currency and encourage commerce. This involved the use of sovereign powers for the regulation of credit to encourage the development of the economy, and to deter speculation. Examples: First Bank of the United States, Second Bank of the United States, and National Banking Act[10]
Henry C. Carey, a leading American economist and adviser to Abraham Lincoln, in his book Harmony of Interests displays two additional points of this American School economic philosophy that distinguishes it from the systems of Adam Smith or Karl Marx:
Government support for the development of science and public education through a public ‘common’ school system and investments in creative research through grants and subsidies.
Rejection of class struggle, in favor of the “Harmony of Interests”
between: owners and workers, farmer and manufacturers, the wealthy class and the working class.[11]
Fascism is also about the harmony of interests.
Have been doing a bit of research into Local Economy Trading systems (LETS) the idea is to run a micro economy in a local area based on the idea of nill equity. For example 2 people open up accounts in a LETS they both have a balance of Zero. one of them purchases by agreement goods and services from the other one with a value of £100 this is then repaid in kind (like a barter) as and when needed. in essence the balance read person 1 -100 person 2 +100 net balance still zero. Now develop the idea to include a hundred, or thousand people, the accounts do not have to match whom you purchased from, it reflect an obligation to the LETS community. one person may buy from another and repay his debt to the LETS system to another member. for more info see
This system is designed to run alongside existing currency economies but defeats the idea of money being a scarce commodity (ie capitalism) but still allows people to set and control proces and services unlike communism and it retains the concept of value and especially the oncept of man hour value
take a look i think it sounds like a good idea but setting up would bhe a bugger.