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21,634
Abibisika (Black Gold) Points
Food for though!
How can we limit or eliminate capitalistic economics system?
To limit or eliminate a capitalist economic system, one could pursue various approaches, including implementing socialist or communist models, promoting worker cooperatives, and implementing policies like universal basic income and progressive
taxation.
Here’s a more detailed look at potential strategies:
1. Transitioning to Alternative Economic Models:
Socialism:
A socialist economy aims to put more control in the hands of the public and reduce the power of corporations and the wealthy, potentially through nationalization of key industries and public ownership of the means of production.
Communism:
A communist system envisions a stateless, classless society where resources are distributed based on need, eliminating private ownership and market mechanisms.
Worker Cooperatives:
Embracing shared ownership and self-management in businesses creates a culture of workplace democracy and dignity, empowering workers with a voice in decisions and a stake in outcomes.
Resource-Based Economy:
This model aims to redesign culture to operate within the carrying capacity of Earth’s resources and prioritize the well-being of people and the environment.
What are your thoughts related to this subject?
3 Comments-
21,634
Abibisika (Black Gold) Points
My People perish for LACK of KNOWLEDGE for KNOWLEDGE is POWER!
My people are destroyed for lack of knowledge; because they have rejected true knowledge. We are reject from being powerful since we have forgotten the law of the Most High, our children will also be forget.
KNOWLEDGE without UNDERSTANDING is of non-affect and UNDERSTANDING without WISE ACTIONS is futility.
Our children and our community need us more than ever in this age of restoration. Keep up the good work my brothers and sisters.
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What were we doing and that worked in our glory days? Socialism? Communism? Worker cooperatives? I am not sure but it worked.
However since we are not in the times of pharoah-ship or Kingdom-ship, we just need a system that will empower African creators in any sector to empower any other African. And I think Tony Elumelu of Tony Elumelu Foundation is doing that. His philosophy is Africapitalism!
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21,634
Abibisika (Black Gold) Points
Genesis of Capitalism and foundation it’s is not for me. There must be a better way.
What does capitalism mean in simple terms?
Capitalism is an economic system originated from the slave market where private individuals (Slave catchers) or businesses own property (Slave masters) and control production. It’s based on the idea that white European people act in their own self-interest, and that competition in a free market leads to the best outcomes for their own society.
Key characteristics
Private property:
People can own land, houses, $tocks, and a country Bonds; except slaves.
Competition:
Businesses can enter and exit markets freely; except slaves.
Profit motive:
The primary goal is to make a profit; except slaves.
Wage labor:
Workers are paid none or very low wages for their labor, but don’t own the means of production
Innovation:
White People are encouraged to find new ways to make money, which leads to economic growth.
Drawbacks of capitalism Income inequality and A focus on profit over people.
Types of capitalism
Free markets:
Also known as laissez-faire economies, these markets have little Ethics, Laws or no Regulation
Mixed economies:
These economies have a mix of markets and government regulation
Examples of capitalism Local businesses, Entrepreneurship, Monopoly, and The stock market, which is driven by fear and greed.
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