Posted: October 27, 2014 in Monetary System
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Another proposed alternative, based on an equitable and an intrinsically valued social model, Particpatory Economics asserted by Michael Albert.

Watch the video from approximately 3 minutes to the 14 minute mark, where Albert answers the usual criticisms of such an idea.

Similar models have been seen in world history. Two examples that come to my mind were in Greece, sometime after the Second World War and in Nicaragua, in the 1970s. In both these nations, it was proven that the population does not require monetary and private wealth incentives to thrive, and that the elimination of illiteracy, hunger, basic medical problems, is very possible without free markets. Sadly outside intervention in both countries put paid to what seemed to be real humanitarian progress, the likes of which could have been a beacon for all people’s to follow.

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