Economics is the social science that studies the production, distribution, and consumption of goods and services. Microeconomics is the study at an individual, group or company level. Macroeconomics, on the other hand, is the study of a national economy as a whole. More tangibly, it can be argued that the economic model a society lives by affects each and every person in their day to day life. Affecting services and production in society, and also giving rise to certain social structures and cultures. Capitalism is the dominant economic model presently.
Samantha believes that moving away from capitalism is imperative to global sustainability of human and ecological life. Many causes Samantha champions are directly negatively affected by capitalism, and would be liberated under a different model. Perhaps the clearest example of this is Marx Feminism. Capitalism is dependent on the vast unpaid labour undertaken by women. To end oppression of women, it is therefore necessary to end capitalism. Similarly, the exponential growth that drives capitalism has and is still destroying natural resources at a terrifying rate. In what has been described as the metabolic rift on the biosphere, global capitalism contributes to the systematic degradation of the biosphere.
Moreover, from a ethical stance when health is a human right and so integral to a productive society, capitalising on the misfortune of disease is barbaric and discriminatory across many levels.
“No society can legitimately call itself civilized if a sick person is denied medical aid because of lack of means.” - Aneurin Bevan
Samantha believes the post-capitalism era is approaching. Made possible primarily by three major changes in the last twenty five years:
The fourth industrial revolution has brought an increase in sophisticated automation information technology, therefore diminishing the amount of man-labour required and increasing recreational time (As first predicted by John Maynard Keynes in 1930)
Information is corroding the market’s ability to form prices correctly. That is because markets are based on scarcity while information is abundant. Monopolies business models based on the capture and privatisation of all socially produced information, are constructing a fragile corporate edifice at odds with the most basic need of humanity, which is to use ideas freely.
The rise of collaborative production: goods, services and organisations are appearing that no longer respond to the dictates of the market and the managerial hierarchy. Collectives such as Wikipedia are a good example of the scale, durability success, and impact of such projects.
Continuing the discussion that outlines the need for a large-scale post-capitalism alternative, Samantha believes that a sustainable, ethical, form of socialism is the answer. The umbrella term for this kind of economy is economic democracy, Samantha subscribes to the economic democracy as defined by David Schweickart. (you can read his theories in detail in his book After Capitalism). Recognising that such a momentous change requires sufficient 'legitimation crisis' (a recognised crises affecting a large proportion of workers), a facilitating movement, and a defined institutional vision of change, Samantha is compelled to support activities actively engaging in highlighting the impending economic crisis and voices that advocate for economic democracy as its replacement. During the current period of unrest of capitalism and neoliberalism, Samantha is interested in the various social projects that are experimenting with alternative structures. She is most interested in current projects and communities embodying escaping capitalism and eroding capitalism as discussed by Erik Olin Wright. The future post-capitalism will not only need an economic change, but large technological, cultural, and
organisational change to overcome the 'disciplinary complex' as described by Michel Foucault.
Complementary to economic democracy but also a legitimate alternative option to explore during capitalism, is the relatively unknown value exchange system of time-based currency, often referred to as time banking. Presently, time banking is most often used in capitalist societies for valuable tangible skills that are often not compensated equally to other roles (care work, house work, languages, driving etc.). Time banking has the power to agitate the current economic model by swapping currently low or unpaid work into a form of 'waged work' via time, therefore having an acceleration affect, perhaps contributing to creative destruction of capitalism.
keynes, socialist model as NHS will eat up resources exponentially, therefore accept this balance, prioritise in government, propose hypothicated tax. Change to pharmaceutical development based on value to mankind rather than market profit