What's Next? - Change
To actually make a dramatic change to how economies are run in developed countries is going to be difficult. Most of the people with the power to make changes to the economic system have done well with the market-based economy as it is. It would take a large push from those who stand to gain from a new economic order to motivate politicians and other decision-makers to make big changes. Those living in poverty typically have trouble making their voices heard. Somehow a way will need to be found to empower those who have done poorly in the current market-based economy.
In any big change, there is an element of risk. No matter how carefully an idea is thought through, change can have unintended consequences. The best way to manage risk is to implement change slowly or perhaps in a limited area. If things don’t work the way they are supposed to, the damage can be minimized. For change to happen, ways need to be found to manage the risks. People need to be assured that catastrophe doesn’t lie just around the corner.
My guess is that big changes like the ones I am considering won’t happen for a very long time unless a crisis develops. As long as there are lots of people doing well under the current system, change will be hard to bring about. While I don’t want a crisis of the scale needed to bring about change, it is worth developing aggressive plans for how changes could be made just in case they are needed. If the day comes when market-based economies aren’t able to cope, alternatives will be needed.
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