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Name: Alan Marshall Course: MEC(H) Department: Department of Economics Staff Supervisor: Tony Bryant Email Address: alanm@bigpond.net.au Thesis Title Achieving a Better Economy. (Awarded 2006) |
Abstract
That there is room for improvement in the global economy is indicated by widespread conditions of hunger, illiteracy, infant mortality, lack of sanitation and the general inequity among different peoples. This dissertation conjectures that a better economy could be attained by: 1) the explicit design of an alternative that exploits the foreseeable technology; and 2) a transition that starts small and operates in parallel with the present economy through an extended period of experimentation and growth.
The underlying design objective is eventually to provide all of humankind with a comfortable life and with opportunities for achieving their full potential. To achieve this objective the design will need to meet these criteria:
Stable - The economy should not be subject to fluctuations nor dependant on growth. An unstable economy requires continuous legislation at considerable cost and the introduction of uncertainty. Stability attained through continuous growth is unsustainable, wasteful and hard on the environment.
Efficient - The economy should conserve materials and energy and it should free up physical and intellectual labour for cultural & humanitarian pursuits.
Equitable - The economy should provides equal access to health, education, resources & opportunities. Anyone who is marginalized by an inequitable economy provides an opportunity to do better.
Friendly - The economy should rewards positive contributions and even if it fails to punish or restrain negative behaviour it should not reward such.
Transparent - All data, methodologies, deliberations and determinations about economic transactions and decisions must be accessible to anyone interested.
Open - Any suggestions, comments or criticisms about economic transactions and decisions must be given attention and respect.
Decentralized - The economic decision-making processes must be dispersed throughout the participants. A centralized process risks being taken over by autocratic forces and the introduction of bias into the decision-making.
Flexible - The economic system must adapt to changing requirements and conditions so that it improves over time and with use. An economy that does not adapt will eventually become ineffective.
Robust - The economic system must resist any attack or exploitation by aggressive or unprincipled interests.
Vigorous - The economic system must thrive and spread so as to displace obsolete economies.
Tolerant - The economic system must not be biased for or against any characteristic or behaviour.
Reflexive - The economic system must apply to itself the same principles and processes that are applied to economic transactions.
