Imagining A Post Capitalist World

This is not meant to be a comprehensive analysis but an imagining of some of the features of a post capitalist world.

OK lets get this over with first. The first thing we will notice is the numbers we use to measure the success of a capitalist economy, GDP, GNP and economic growth will look bad. That is because the goals of the new economy will not be excessive production, consumption, energy waste and unsustainable growth. The new economy will be based on people not stuff. While our so-called standard of living will decline our quality of life will increase.

Because of higher minimum wages and a Guaranteed Basic Income everyone will have at least a comfortable modest life with adequate housing and all their basic needs met because there are enough resources to provide this when there is not excessive inequality and waste by the excessively wealthy.

Excessive inequality will be eliminated because of an aggressive progressive tax system based on the principle that everyone should contribute to the society/economy based on their ability.

Everyone, not just the very wealthy, will finally benefit from the use of machines to increase productivity and most drudge work will now be done by machines. The effect will be that everyone will have reduced working hours for a shorter period of their life. Work will no longer be a necessity to survive but something people crave for the fulfillment it brings to their lives.

Because of a societal decision all work requiring intelligence or decision making will be reserved for human beings.

Elimination of the exploitative capitalist practice of producing goods in low wage countries will see the elimination of excessive wasted energy transporting goods as most food will be produced within 100 kilometres of where it is consumed and other goods within 500 kilometres.

With increased time for themselves education will be an important part of everyone’s life and as with health care, treated as a public good and paid for collectively. Arts and culture, theatre and music, will be emphasized with the emphasis on local artists and productions (rather than overpriced “superstars”) as well as outdoor recreation.

Small businesses, where the owner earns his income by working in the business, will be encouraged and supported. For large enterprises, ownership and control of the means of production (factories, computer facilities, etc) will reside with the workers producing the products or providing the services, most often through co-operatives, except for public services like education, health care and public utilities where control and ownership will reside with the people through their democratically elected governments. All workers will have an effective, not just theoretical, right to join a union and bargain collectively.

The overall philosophy of the society/economy will be "from each according to his ability, to each according to his needs".