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Is it possible to devise an economic system that is both optimally productive and, at the same time, fair to everybody? How will individual prosperity be affected if extreme centralization of power becomes a thing of the past? What principles should guide the economy of a country?
The best policies are discovered by those who care about the wellbeing and happiness of everybody
The effort to popularize and implement capitalism spans centuries. This effort has been, and continues to be, global in scope. There has also been a multi-generational effort on the part of economists and politicians to improve the effectiveness and fairness of capitalism. The meaning and practices of capitalism have evolved over time - especially since the early 1800s. This is not only because of constraints imposed by governments; it is also because of insights gleaned from results. I feel that this process must continue until free markets are widely acknowledge to work optimally for everybody.
In seeking an improved economic system, it is essential to realize that regardless of the economic or political system of any given society, the prosperity within that society is always achieved through productivity.
While capitalism has been the most productive economic system, it has long been accused of unfair practices and unwanted consequences. In the minds of many, it has best served those who own or control unusually large amounts of capital. As will be shown, insufficiently enlightened self interest diminishes the effectiveness and profitability of that self interest. By addressing the complaints against capitalism, this most productive economic system can be made more profitable for every
The policies advocated here are not designed to optimize the speed with which they might meet with approval. They are offered without regard to the time it may take to implement them fully. Growth Capitalism is designed to be optimally profitable for customers, employees, entrepreneurs, innovators, and investors simultaneously
A more perfect economy and culture can be achieved by perfecting capitalism rather than by gradually surrendering liberties to centralized control or by accepting corruption as a fact of life. Government must safeguard property rights and fair competition; otherwise incentive systems will be degraded, invention and innovation will occur less often, and poverty will continue to exist.
Excessive centralization of economic power, whether in the hands of private organizations or governments, must not be tolerated. This world-wide tendency is most threatening in the technology of automation, in the business of banking, and in government.
I feel that it is appropriate to call this kind of capitalism Growth Capitalism
, because growth of prosperity is the whole point
To paraphrase Nick Hanauer, capitalism provides the greatest productivity because it is a system that rewards people for solving the problems that other people
experience. It is a solution-finding system. Nick Hanauer offers ideas for the improvement of capitalism and suggests the term New Capitalism
. I feel that this name is also thoroughly appropriate.
Attempting to improve prosperity for any particular faction without a motive to improve general prosperity does not maximize prosperity for that particular faction. Under such a frame of mind, that faction might benefit, but not optimally.
Economic wellbeing depends also on having a rational culture and goodness in the hearts of people. While I endorse the wisdom of the separation of church and state and reject any element of theocracy in government, I firmly believe that all who seek prosperity must participate in a cultural shift toward caring about the wellbeing and happiness of every human being.
The policies of Growth Capitalism also work to further or bring about self-educated workers, test-verified credentials, apprenticeships within private companies, employee wage requirements that are tied to industry earnings, the right of citizens to form employee-owned businesses, minimal government debt, minimal consumer debt, the right of citizens to form cooperatives in any industry, the right of communication privacy, more development of non-lethal weapons, increased participation in entrepreneurship, and the use of automation to make automation more affordable to individuals and very small businesses.
Our inventions and discoveries cause growth. Any widespread economic misery is caused by defective policies.
Chapter 1 - The Zero-Sum Theory
Chapter 2 - Service to the Customer
Chapter 3 - The Role of Government
Chapter 4 - Automation
Chapter 5 - Communication Privacy
Chapter 6 - Structure
Chapter 7 - Learning
Chapter 8 - The Growth Party
Appendix A - Effective Robotics
Appendix B - Perfect Encryption