Wednesday, December 5, 2012

democratize the bureaucracies and expropriate investment capital

Humanity will never be happy until we democratize the bureaucracies and expropriate for the poor the investment capital that cares more about short-term profits and quarter earnings than welfare of the poor, or wellbeing of the underprivileged, defenseless, wageworkers and the victims of an autocratic, hierarchical, greed and fear driven economy. Instead we need a truly democratic economy driven by a moral concern for the other.  Polanyi claimed economic relationships should be embedded in other social institutions of social responsibilities. Social obligations, ecology, and technology determine the rules of the economy. Production for use and meeting the needs of all people need to govern decisions and production and distribution through established democratic decision-making processes. Markets work best when they remain secondary to meeting the basic needs of all people end of discussion.

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