Dec 11, 17 / Cap 09, 01 06:03 UTC
Basic needs of an economic system ¶
I just want to make a short post highlighting the basic goals of any economic system as a point of reference for any discussion on possible economic systems. Namely, an economic system must seek to maximize production while preventing poverty. Any economic system should pass through these two gates: Does this prevent or at least not induce poverty? Does this encourage maximum production? This is why pure economic systems fail (pure capitalism without any socialism does not prevent poverty and pure communism does not encourage maximum production). Any economic system must work to ensure that increasing production and innovation are rewarded and encouraged while also preventing poverty. (Note that an enlightened society such as the one we are seeking to create might measure "production" as more than just the financial gain, and as such an economy that also encourage non-profitable production and innovation is also important).