Tag Archives: finance

The Birth of a New Cooperative Economy

They say we are self-interested, we’re always out to win.
Always individualistic, though it used to be a sin.
They say we need free markets, the better to compete,
and the economy will flourish if we only think of greed.

This is Economics 101, the way it’s taught today. Not a word about nature, community, caring, sharing, or cooperation.

During the mid 19th century, advances in science, democracy, education, literacy, public healthcare, labour unions, technological breakthroughs, banking, and the power of fossil fuels to generate rapid economic growth certainly made it seem that after ten thousand years of economic stagnation the competitive pursuit of profit was improving life for all. In the 1760s it took eighteen hours of human labour to transform a pound of cotton into cloth. By the 1860s it took one and a half hours. Today, it probably takes five seconds.

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A New Cooperative Economy

Guy Dauncey, April 2017

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This essay was submitted to The Next Systems Project Essay Contest, in which is was awarded second place. “We received hundreds of submissions from 30 different states and 26 countries, proving that many around the world not only believe system change is necessary, but have thought long and hard about what a new system should look like and how we might get there.” http://thenextsystem.org/announcing-the-winners-in-our-essay-competition/ 

http://thenextsystem.org/…/2017/04/Dauncey_AtLargeSecond.pdf

You can download the essay as a PDF here. A New Cooperative Economy

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Our task is to fashion a political vision and a political narrative that is a compelling answer to neo-liberalism and the ideology of competition, free markets, and the primacy of capital. We need a political economy of cooperation, solidarity, of mutual benefit. –  John Restakis, Civil Power and the Partner State, 2016

Our modern economy is in crisis. Can we build an alternative economy as our ancestors did in the transition from feudalism to capitalism? It’s a question that takes us deep into our values, culture, history, politics—and visions of the future.

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