Economic Systems and Human Welfare
A Layman's Perspective
[Part 2/2]
Major economic systems [4] such as capitalism, socialism, and communism - that can be strongly correlated to political systems [5] predominantly function to sustain power equations. Power, whether manifested in military, economic, or administrative forms, inherently prioritizes self-preservation, influence, or control. Surveillance systems, while often justified as instruments for security or efficiency, may systematically infringe upon individual rights when deemed necessary. Capitalism frequently results in the concentration of wealth and influence among a select few, as evidenced by India's escalating income disparity [6]. Socialism and communism, despite their ideological commitment to equity, have historically been appropriated by authoritarian regimes to consolidate power. Nevertheless, it would be inaccurate to assert that such systems entirely lack of welfare motivations, which may emerge from political strategies or vote-bank considerations. Welfare programs, even when politically motivated, can positively impact millions of lives; India's Ujjwala scheme, for instance, has provided cooking gas connections to nearly 100 million households [7], notwithstanding its electoral significance. Similarly, international aid programs from powerful nations often carry strategic conditions that remain unknown to the general populace.
In conclusion, those occupying positions of governance and administrative authority rarely implement welfare measures purely out of benevolence, compassion, or kindness, independent of electoral considerations and political strategies. Rather, such initiatives are typically designed to secure their own future prospects. As with most generalizations, exceptions to this pattern do exist.
4. https://en.wikipedia.org/wiki/Economic_system
5. https://en.wikipedia.org/wiki/Political_system
6. https://www.businesstoday.in/personal-finance/investment/story/top-1-rule-indias-total-wealth-expert-breaks-down-on-what-it-really-takes-to-join-the-club-492796-2025-09-05
7. https://www.hindustantimes.com/india-news/govt-raises-ujjwala-subsidy-for-96mn-households-by-100-101696444453311.html
#HumanWelfare #HumanRights #EconomicSystems #Capitalism #Socialism #Communism
Economic Systems and Human Welfare
A Layman's Perspective
[Part 1/2]
I endeavored to present a textbook explanation of capitalism to a high school student [1], carefully refraining from interjecting my personal views. This effort elicited an intriguing and thought-provoking response [2] from @RD4Anarchy [3], which has since prompted me to periodically contemplate human welfare, power dynamics, economic and political systems. Drawing from my personal observations in India over the past several decades, supplemented by global perspectives, I wish to outline a fundamental dichotomy below where I consider the formal understanding of economic systems have become convoluted.
On one side, we have the constitution, human welfare and human rights. On the opposing side, we find military power, economic power, the authority to distribute wealth for self-interest protection, surveillance capabilities, administrative control, governance authority, and the six adversaries of the human mind as recognized in Indian philosophy: lust, anger, greed, delusion, pride, and envy.
1. https://hachyderm.io/@srijit/114041629339916466
2. https://hachyderm.io/@RD4Anarchy@kolektiva.social/114042814432265608
3. https://kolektiva.social/@RD4Anarchy
#HumanWelfare #HumanRights #EconomicSystems #Capitalism #Socialism #Communism
[Part 1/2] My attempt to explain capitalism to a high school student Economic system An economic system is a way that a country or society organizes and manages its resources, such as money, goods, and services. It's like a set of rules and practices that determine how people earn money, buy and sell things, and make decisions about what to produce and consume. Economic freedom Economic freedom means having the ability to make your own choices about how to earn money, buy and sell things, and make decisions about what to produce and consume. It is the freedom to participate in economic activities without unnecessary restrictions or interference. Capitalism Capitalism is an economic system where people can start their own businesses and make decisions about what to produce, how much to charge and where to sell their products. In this system, capital assets (e.g. factories, mines, rail, roads, ports etc.) can be privately owned and controlled by individuals or private companies and labour is purchased for money wages. Profit is the money a business earns after paying for all the costs involved in producing and selling goods or services. The primary goal of capitalism is to make a profit (need not be as much profit as possible) by selling goods or services. This profit motive drives competition among businesses to be the low-cost producer of a certain good and to switch production to more profitable goods if necessary. Economic freedom and capitalism Economic freedom is not only related to capitalism. Other economic systems also provide economic freedom to varying degrees. Economic freedom is important because it encourages innovation, entrepreneurship, and economic growth. When individuals and businesses have the freedom to make their own economic decisions, they are motivated to work hard, take risks, and come up with new ideas. This leads to the creation of new businesses, job opportunities, and improvements in the quality of goods and services. Reference: https://www.imf.org/external/pubs/ft/fandd/2015/06/basics.htm #Capitalism #EconomicSystem #EconomicSystems #EconomicFreedom
Talmudic sages were active participants in ancient Mediterranean wine culture
A Ramat HaNadiv vineyard that uses traditional cultivation methods. (photo credit: Dr. Sh…
#wine #MediterraneanWine #Wine #agriculturalknowledge #economicsystems #Halacha #Jewishfarmers #JournalofInterdisciplinaryHistory #LateAntiquity #Mediterranean #ShulamitMiller #UniversityofHaifa #Wine(Industry)
https://www.diningandcooking.com/2218819/talmudic-sages-were-active-participants-in-ancient-mediterranean-wine-culture/
Talmudic sages were active participants in ancient Mediterranean wine culture
A Ramat HaNad…
#dining #cooking #diet #food #mediterranean #MediterraneanDiet #MediterraneanFood #MediterraneanWine #Wine #agriculturalknowledge #economicsystems #Halacha #Jewishfarmers #JournalofInterdisciplinaryHistory #LateAntiquity #Mediterranean #ShulamitMiller #UniversityofHaifa #Wine(Industry)
https://www.diningandcooking.com/2218819/talmudic-sages-were-active-participants-in-ancient-mediterranean-wine-culture/
@cerement @richardwonka @pluralistic
And their more recent, expanded take on this, What if We Ran the Economy:
https://www.youtube.com/watch?v=vW5EVNT--DA
#libraryeconomy #socialecology #commons #governance #solarpunk #andrewism #economicsystems #libraries #cooperation #economy #usufruct #sharing #libraryofeverything
You may consider reading my post [https://hachyderm.io/@srijit/114041629339916466] regarding my attempt to explain capitalism to a high school student and the corresponding responses from @RD4Anarchy.
I must add that the replies from @RD4Anarchy are more intriguing and thought-provoking than my own.
#Capitalism #EconomicSystem #EconomicSystems #EconomicFreedom
[Part 1/2] My attempt to explain capitalism to a high school student Economic system An economic system is a way that a country or society organizes and manages its resources, such as money, goods, and services. It's like a set of rules and practices that determine how people earn money, buy and sell things, and make decisions about what to produce and consume. Economic freedom Economic freedom means having the ability to make your own choices about how to earn money, buy and sell things, and make decisions about what to produce and consume. It is the freedom to participate in economic activities without unnecessary restrictions or interference. Capitalism Capitalism is an economic system where people can start their own businesses and make decisions about what to produce, how much to charge and where to sell their products. In this system, capital assets (e.g. factories, mines, rail, roads, ports etc.) can be privately owned and controlled by individuals or private companies and labour is purchased for money wages. Profit is the money a business earns after paying for all the costs involved in producing and selling goods or services. The primary goal of capitalism is to make a profit (need not be as much profit as possible) by selling goods or services. This profit motive drives competition among businesses to be the low-cost producer of a certain good and to switch production to more profitable goods if necessary. Economic freedom and capitalism Economic freedom is not only related to capitalism. Other economic systems also provide economic freedom to varying degrees. Economic freedom is important because it encourages innovation, entrepreneurship, and economic growth. When individuals and businesses have the freedom to make their own economic decisions, they are motivated to work hard, take risks, and come up with new ideas. This leads to the creation of new businesses, job opportunities, and improvements in the quality of goods and services. Reference: https://www.imf.org/external/pubs/ft/fandd/2015/06/basics.htm #Capitalism #EconomicSystem #EconomicSystems #EconomicFreedom
[Part 2/2]
My attempt to explain capitalism to a high school student
Major drawbacks of capitalism that can affect society
1. In a capitalist system, wealth tends to accumulate in the hands of a small percentage of the population, and this can lead to a wide gap between the rich and the poor.
2. Successful companies can usually become so powerful that they dominate the market, allowing them to charge higher prices to consumers.
3. Capitalism can encourage greed i.e. the pursuit of profit in capitalism can sometimes prioritize making money over making decisions that may benefit society as a whole.
4. Capitalism, with its focus on profit, mostly overlooks the environmental impact of production. This can lead to overproduction, pollution, and other harmful effects on the environment and climate that affect everyone.
5. Often people are rich, simply because they inherit wealth or are born into a privileged class. Therefore, capitalist society can not only fail to create equality of outcome but also can also fail to provide equality of opportunity. Societies which are highly unequal create resentment and social division.
Reference: https://www.imf.org/external/pubs/ft/fandd/2015/06/basics.htm
#Capitalism #EconomicSystem #EconomicSystems #EconomicFreedom
[Part 1/2]
My attempt to explain capitalism to a high school student
Economic system
An economic system is a way that a country or society organizes and manages its resources, such as money, goods, and services. It's like a set of rules and practices that determine how people earn money, buy and sell things, and make decisions about what to produce and consume.
Economic freedom
Economic freedom means having the ability to make your own choices about how to earn money, buy and sell things, and make decisions about what to produce and consume. It is the freedom to participate in economic activities without unnecessary restrictions or interference.
Capitalism
Capitalism is an economic system where people can start their own businesses and make decisions about what to produce, how much to charge and where to sell their products. In this system, capital assets (e.g. factories, mines, rail, roads, ports etc.) can be privately owned and controlled by individuals or private companies and labour is purchased for money wages.
Profit is the money a business earns after paying for all the costs involved in producing and selling goods or services. The primary goal of capitalism is to make a profit (need not be as much profit as possible) by selling goods or services. This profit motive drives competition among businesses to be the low-cost producer of a certain good and to switch production to more profitable goods if necessary.
Economic freedom and capitalism
Economic freedom is not only related to capitalism. Other economic systems also provide economic freedom to varying degrees. Economic freedom is important because it encourages innovation, entrepreneurship, and economic growth. When individuals and businesses have the freedom to make their own economic decisions, they are motivated to work hard, take risks, and come up with new ideas. This leads to the creation of new businesses, job opportunities, and improvements in the quality of goods and services.
Reference: https://www.imf.org/external/pubs/ft/fandd/2015/06/basics.htm
#Capitalism #EconomicSystem #EconomicSystems #EconomicFreedom
How much does the economy shape our identities? 💼🌍
In my latest I examine how capitalist systems construct and amplify certain behaviors—often prioritizing self-interest over community and sustainability. Inspired by economics writer, Brett Scott, I question whether a profit-driven framework limits the full spectrum of human nature.
What identities emerge when profit dictates the mix? 🎶
@geography #EconomicSystems
https://open.substack.com/pub/interplace/p/molding-minds-through-the-markets?r=90bfe&utm_campaign=post&utm_medium=web
How capitalism constructs our identities and alters our spaces
Ekimellnea
Srijit Kumar Bhadra
Wine
Mediterranean Diet
NikuNashi
Brad Weed