The How Of The Economy – Other Pairs

In the previous part, we argued that money and value are increasingly drifting apart, which skews the whole economy as something that does not have an intrinsic value is becoming more worth things such as work and resources that do. We made a number of suggestions on how to pull money and value together. In this part, we will do something similar with the other five defining features of Capitalism, namely, propose the synthesis with their counterparts so that the economy can evolve.

The Synthesis Of Individualism And Communality

As already discussed, individualism has been, by and large, glorified in capitalism and frequently equated with ‘private’: for instance, private property is linked to values such as individual freedom.

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The Synthesis Of Investment And Production

The stock market drives capitalism not only to make a profit but to keep increasing it, as trading in shares would not make sense without it. So, a stable situation is not a possibility.

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The Synthesis Of Consumerism And Needs

There is no doubt that consumerism (mass production and mass consumption) played an important role in improving living standards for many people, but it has now outgrown its usefulness. Accelerated consumerism has actually become destructive in many ways.

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The Synthesis Of Competition And Cooperation

Supported by a somewhat misguided understanding of natural evolution, the western world (if not the whole world) has been indoctrinated with the belief that competition matters more than cooperation.

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The Synthesis Of Quantity And Quality

The new economy will also need to balance quantity and quality (as we will see below, this is not a trivial issue – it matters for some fundamental aspects of social life).

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