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Understanding the Course of Social RealityDunatopian Economic System

Understanding the Course of Social Reality: Dunatopian Economic System [At center stage of this chapter stands what may be denominated the ‘separation principle’; that is, the principle of the separation of production from the decisions and conflicts concerning income distribution. Such a separation prevents those conflicts from harming efficiency in the use of productive resources and enhances solidarity and social justice. In particular, the implied abolition of company wages (with the exception of material incentives on overtime work) makes it possible to erase exploitation and enable the achievement of full employment. A profound reform of the financial system is also delineated, aimed at preventing crises caused by financial speculations mainly at the international level, and aimed also at ending the present dependence of production on the hegemony of finance. In this chapter, the role of the entrepreneur, the profit rate and dynamic competition are highlighted. Here the importance of the rule results-responsibilities for the efficiency of the economy is greatly in evidence. We insist on the notion of the market used and intended as a pure mechanism for the imputation of costs and efficiency, and hence purified of acquisitive selfishness; thereby combining altruism with a sound competitive spirit.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Understanding the Course of Social RealityDunatopian Economic System

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References (1)

Publisher
Springer International Publishing
Copyright
© The Author(s) 2016
ISBN
978-3-319-43070-6
Pages
65 –83
DOI
10.1007/978-3-319-43071-3_8
Publisher site
See Chapter on Publisher Site

Abstract

[At center stage of this chapter stands what may be denominated the ‘separation principle’; that is, the principle of the separation of production from the decisions and conflicts concerning income distribution. Such a separation prevents those conflicts from harming efficiency in the use of productive resources and enhances solidarity and social justice. In particular, the implied abolition of company wages (with the exception of material incentives on overtime work) makes it possible to erase exploitation and enable the achievement of full employment. A profound reform of the financial system is also delineated, aimed at preventing crises caused by financial speculations mainly at the international level, and aimed also at ending the present dependence of production on the hegemony of finance. In this chapter, the role of the entrepreneur, the profit rate and dynamic competition are highlighted. Here the importance of the rule results-responsibilities for the efficiency of the economy is greatly in evidence. We insist on the notion of the market used and intended as a pure mechanism for the imputation of costs and efficiency, and hence purified of acquisitive selfishness; thereby combining altruism with a sound competitive spirit.]

Published: Aug 28, 2016

Keywords: Separation principle; Solidarity; Social justice; Exploitation; Entrepreneurship; Profit rate; Dynamic competition; The market; Results-responsibilities; Financial system

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