Critical Evaluation of African Socialism with Regards - amazonia.fiocruz.br

Critical Evaluation of African Socialism with Regards Video

Economic democracy is a socioeconomic philosophy that proposes to shift decision-making power from corporate managers and corporate shareholders to a larger group of public stakeholders that includes workers, customers, suppliers, neighbours and the broader public.

No single definition or approach encompasses economic democracy, but most proponents claim that modern property relations externalize costs, subordinate the general well-being to private profit and deny the polity a democratic voice in economic policy decisions. Proponents of economic democracy generally argue that modern capitalism periodically results in economic crises characterized by deficiency of effective demand as society is unable to earn enough income to buy its output production. Corporate monopoly of common resources typically creates artificial scarcityresulting in socio-economic imbalances that restrict workers from access to economic opportunity and diminish consumer purchasing power. For example, as a means to securing full economic rightsit opens a path to full political rightsdefined as including the former. ot

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As a reform agenda, supporting theories and real-world examples range from decentralization and economic liberalization to democratic cooperativespublic bankingfair trade and the regionalization of food production and currency. According to many analysts, deficiency of effective demand is the most fundamental economic problem.

That is, modern society does not earn enough income to purchase its output. For example, economic geographer David Harvey claims, "Workers spending their wages is one source of effective demand, but the total wage bill is always less than the total capital in circulation otherwise there would be no profitso the purchase of wage goods that sustain daily life even with a suburban lifestyle is Critical Evaluation of African Socialism with Regards sufficient for the profitable sale of the total output".

In the Georgist view of any economic system"wealth" includes all material things produced by labor for the satisfaction of human desires and having exchange value.

Landlabor and capital are generally considered the essential factors in producing wealth. Land includes all natural opportunities and forces. Labor includes all human exertion. Capital includes the portion of wealth devoted to producing more wealth.

Critical Evaluation of African Socialism, with Regards to Ujamaa Policies

While the income of any individual might include proceeds from any combination of these three sources—land, labor and capital are generally considered mutually exclusive factors in economic models of the production and distribution of wealth. According to Henry George : "People seek to satisfy their desires with the least exertion". The laws and customs that govern the relationships among these entities constitute the economic structure of a given society. Alternately, David Schweickart asserts in his book, After Capitalism : "The structure of a capitalist society consists of three basic components:. Supply and demand are generally accepted as market functions for establishing prices. Organisations typically endeavor to 1 minimize the cost of production ; 2 increase sales; in order to 3 maximize profits. But, according to David Schweickart, if "those who produce the goods and services of society are paid less than their productive contribution", then Critical Evaluation of African Socialism with Regards consumers they cannot buy all the goods produced, and investor article source tends to decline, triggering declines in production and employment.

Such economic instability stems from a central contradiction: Wages are both a cost Critical Evaluation of African Socialism with Regards production and an essential source of effective demand needs or desires backed with purchasing power[5] resulting in deficiency of effective demand along with a growing interest in economic democracy. Biklen discusses a variety of perspectives on "The Making of Social Problems". One of those views suggests that "writers and organizers who define social problems in terms of social and economic democracy see problems not as the experiences of poor people, but as the relationship of poverty to wealth and exploitation".

Biklen states that check this out to this viewpoint:. The problem is not one of gaps or cracks in an otherwise fine system but of a system which perpetuates prejudicial views concerning race, sex, age, and disability. The problem is not one of incompetence but of barriers to education, jobs, and power. Accordingly, as long as there is a deep gulf between social classes, both in terms of wealth, power, and outlook, traditional social programs will act merely as palliatives to oppression and not as a way of ending large scale human misery.

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This perspective is, above all, eclectic. It embraces Marx's criticism of social class inequality but is not only a social class analysis. It is anti-racist, but it is not only a theory of race equality. It favors democratic distribution of power but is also an economic theory. It can be called a social and economic democracy perspective.]