OK, I’m 17 blog posts in, and so far so good. Time for a pause, take a breath and look around. Where are we?
The purpose of this blog, as explained here, is to theoretically explore new kinds of economic institutions that crowd-out exploitative social relations and replace them with egalitarian and democratic relations. We want to get from here (capitalism) to there (socialism). But to change something you first need to understand it. So we’re currently right at the beginning of the journey (a journey, which I hope, but cannot promise, to complete).
As of now, we’re at the theoretical foothills exploring some fundamental features of economic organisation. We’ve investigated production and coordination. And we’ve just started to examine economic coordination in the context of market-based societies.
The next few landmarks we need to reach include: (i) a complete specification of market-based coordination, (ii) who owns the firm and who gets to distribute profit, and (iii) generalising the emerging modelling framework to include large numbers of different actors in order to replicate the empirical regularities of actual capitalist economies. (i) and (ii) is a matter of careful exposition. I imagine it will take many months to reach these landmarks. In contrast, reaching (iii) will require some new theoretical ideas, and therefore it’s not clear to me, as of today, whether we can reach this place.
For the convenience of readers new to this blog, or those who would like a handy more readable format, I will release periodic omnibus editions that package all the blog posts into a single document.
Omnibus Edition Version 1.0 is here:
Next post we’ll start to analyse the phenomenon known as “profit”.