Equinomy

After Capitalism

Capitalism is wrong, Communism is worse.

What’s left? Equinomy

A new solution to capitalism is proposed here. A more efficient, just, free, and sustainable economic system exists, an Equinomy balancing powers to counter capitalism in the market economy.

Equinomy is a more equitable, ecological, efficient post-capitalist market economy.

3 changes are needed to create a better economic system:

1. a Significant Basic Income for Everyone (at 50% of GDP)

2. a Balance of Power in Companies (between customers, employees, and shareholders in the Boardroom)

3. a Positive Market Economy (with competition and cooperation) to achieve a better efficiency

Will it work? Yes, like democracy (with checks and balances) works, even if it was a dream only three centuries ago.

Will we see it this century? Hopefully, because capitalism must change.

https://www.amazon.fr/Destins-Capitalisme-Quaternaire-Sebastien-Groyer/dp/295630352X

(in French)

Write me at equinomy@gmail.com

Below is a short summary of the main ideas behind Equinomy:

The first and most important step is to define clearly capitalism and the market economy to never mistake one for the other (and mostly capitalism for the market economy). A market economy is a macroeconomic system based on freedom of people, prices and enterprise. Free competition and free cooperation exist in a market economy and are the source of its efficacy. This is not capitalism, even if capitalism has been defended for a very long time with the (many) qualities of the market economy. It is now time to stop this confusion and create a post-capitalist free market economy.

Capitalism represents the power of shareholders over other economic agents, at the service of the shareholder’s personal interest of always increasing profits in companies. Capitalist companies look for always increasing power, abusing in the goal of maximizing profit over other possible objectives of companies. Another more balanced corporate governance is needed, with employee and customer board members to achieve a better balance of powers (like the liberal and democratic state). Hence, we now live in a capitalist market economy (since most companies are today capitalist), and we need to move to a post-capitalist market economy, an Equinomy.

Three synergistic elements compose this Equinomy. The first element is a basic (or minimum) income which resolves the fundamental problem of a just property (the basis of any rational economic system) while providing a minimum economic freedom to everyone so they can freely pursue their research for happiness (think of it as the economic equivalent of the political Human Rights giving freedom to everyone).

The second element is a better balance between competition and cooperation in the market economy, instead of pure competition. It transforms the idea of what really is an efficient market , limiting abuses like financial speculation while allowing a better cooperation. It stops the idea that power disappears in crowds, while staying away from the problems of monopolies and oligopolies. A balance of power on the market appears, combining competition and cooperation

The third element, a balanced corporate governance, creates a balance of power in companies, going beyond capitalism. A third of shareholders’ board members, a third of employee board members and a third of customer board member will redefine the goal of companies and of management, putting a more balanced objective at the forefront: sustainability, quality, pricing, fairness, compensations, profit and so many other objectives will need to be combined as the company is no longer only a profit play for the shareholders, and the rest later.

Property is hence justified, freedom is achieved, and companies are no longer tools for shareholders with Equinomy.