| A brief discussion on economic theories & systems may prove useful to solving the issues of today.
I'd like to start off with the commonly known norms:
Ownership:
1) Socialism: Government ownership of the means of production & distribution.
2) Corporatism: Partial private & partial public ownership of the means of production & distribution.
3) Capitalism: Private ownership of the means of production & distribution.
Economic Law:
1) Mercantilism: Regulation of the private sector & market
2) Laissez-faire: Deregulation of the private sector & market
Which brings us to my personal economic theory:
3) Fusionism: Standardization, not regulation, of the private sector & market
A few remarks about ownership. Property rights only exist under a capitalist system. Income redistribution only exists under socialism. Partial forms of these, such as we have today, arise out of corporatism.
The system of ownership seems to be reflected by the economic law of a nation. I believe that the private sector and market would best be governed by a permanent set of standards, rather than according to the whims of individual leaders, which protect the life, liberty, and property of the citizenry.
In example, the prohibition of slavery is a fusionist standard; one we need to keep. Slavery is not regulated or deregulated, but the Labor System we have is partially-standardized due to our corporatist nature. We lack a true standard eliminating the possibility of slavery. Wage slavery is regulated. Marriage is regulated. Everything that becomes regulated is done so by lawmakers for short-term reasons.
This topic is about determining standards which may allow a completely deregulated private sector & market. Please submit your ideas. |