An Economy of Meaning, or Bust
John Boik
11615

I strongly agree that we’re overdue for a new economic paradigm, but I think you may have overlooked the key to finding it. We do need to move beyond a discussion of capitalism versus socialism, but we have to do so by incorporating the lessons each has taught us.

Socialism taught us we have to organize and fight for equitable distributions of wealth, but to be wary of centralized power. Capitalism taught us that free markets maximize the exchange of goods and services but in the same way absolute power corrupts absolutely, free markets can be prone to corruption encouraging income inequality and oppression.

As you allude to, the new paradigm will have to incorporate the fact that we act as individuals or groups constrained by our governing roles and processes, and the object of the game will have to focus on defining more effective roles and processes in politico-economic terms.