An Exploration of Socio-Economic Systems

Hi, Linda Solomon here, business brand advisor and self-proclaimed financial activist. Since childhood I’ve always been fascinated by money, not just spending it but the origins too. Why did we start using it? Do we even need it? And more importantly, how do governments spend the money they take from the little man?

In this blog I’m going to take a look at how the other half live, could it be that there is already a utopian society out there somewhere? Has anyone managed to reduce the disparity between the haves and the have nots or do the rich always get richer and the poor always get poorer?

Most of us here in the UK will have only ever experienced capitalism. A system that by its very nature is destructive. The dictionary definition of a capitalist is “a wealthy person who uses money to invest in trade and industry for profit in accordance with the principles of capitalism”. With capitalism there is no end game. Profit and wealth need to grow year upon year otherwise markets start to crash, and we have all seen the impact when that happens.

As we produce more, we consume more, and the environmental impact is huge.

China is a textbook example of the dangers of capitalism. Previously a hard-line socialist country with trading relationships with only friends and neighbours, they slowly embraced capitalist ideology, reaping rich rewards and today they are the second-largest economy in the world. They are expected to overtake the USA within the next 80 years. To keep up with demand they are building 700 new coal power plants.

This is scary stuff! So, in this blog I will look at different ways. I will explore exciting ideas such as basic income. Could Objectivism work or are Participatory Economics the way forward? Come join me on an exploration of socio-economic systems!