Speaking Out 295 – A Manifesto for Economic Sense

This Manifesto for Economic Sense is clearly another excellent start toward the necessary global change in Economy Theory and Practice. The number, caliber and geographical distribution of signees all testify to that fact.

However, as with all other “excellent starts” of all other worthwhile endeavors, this Manifesto leaves, not so much to be desired but, much to be further developed. Testimony to this fact is multifold. First, there are the gratifyingly numerous Comments, mostly further developing the ideas, with a few somewhat conflicting, caused in many cases no doubt by insufficiently inclusive definition.

Secondly, it is not completely clear what geographical range to which the Manifesto and its Comments apply. Suffice to say that considering anything other than the total planet will not permit serious and even nearly complete resolution of the economic problems of any region of the planet. Consideration of humans and their actions distributed about the whole globe are essential for any hope of even minimal success.

Toward that desirable goal, we respectfully wish to suggest consideration of the following.

We wish to congratulate, encourage and support all fellow humans contributing to the success of the necessary Transformation of Planet Earth, including the essential global OCCUPY and 99% movements. Our primary suggestion for this necessary endeavor is the serious consideration and thoughtful adoption of some form of Socioeconomic Democracy as a peaceful, just and democratic resolution of the myriad problems confronting humanity caused by the maldistribution of wealth and income intra- and internationally.

Most certainly, numerous other fundamental changes are required, with some encompassing the many problems created by contemporary “money” and “banking” and “financing” definitions and arrangements. The implementation of Socioeconomic Democracy will significantly help facilitate these and other necessary transformations.

Socioeconomic Democracy is a theoretically consistent and practically implementable socioeconomic system wherein there exist both some form and amount of locally appropriate Universally Guaranteed Personal Income and some form and amount of locally appropriate Maximum Allowable Personal Wealth, with both the lower bound on personal material poverty and the upper bound on personal material wealth set and adjusted democratically by all participants of a democratic society. This is trivially accomplished with elementary Public Choice Theory.

The intimately intertwined and serious societal problems Socioeconomic Democracy will eliminate or significantly reduce include (but are by no means limited to) those familiar ones associated with: automation, computerization and robotization; budget deficits and national debts; bureaucracy; maltreatment of children; crime and punishment; development, sustainable or otherwise; ecology, environment, resources and pollution; education; the elderly; farcical “free-market” fantasies, the feminine majority; inflation; international conflict; intranational conflict; involuntary employment; involuntary unemployment; labor strife and strikes; sick medical and health care; military metamorphosis; natural disasters; pay justice; planned obsolescence; political participation; poverty; racism; sexism; untamed technologies; and the General Welfare.

A few, of many, relevant links:

Socioeconomic Democracy: An Advanced Socioeconomic System (Praeger Studies on the 21st Century, 2002)

“A Democratic Socioeconomic Platform, in Search of a Democratic Political Party”

“Socioeconomic Democracy: A Nonkilling, Life-Affirming and Enhancing Psycho-Politico-Socio-Economic System” PelicanWeb’s Journal of Sustainable Development