Phelps frydman

"Capitalism is a system of largely private ownership that is open to new ideas, new firms and new owners —in short, to new capital." " Capitalism’s rationale to proponents and critics alike has long been recognized to be its dynamism, that is, its innovations and, more subtly, its selectiveness in the innovations it tries out." " At the same time, capitalism is also known for its tendency to generate instability, often associated with the existence of financial crises, job insecurity and failures to include the disadvantaged."

Socialization in one state

Imagine a socialist take over by electoral hegemony of California Or Greece What can be done

Anti exploitation regs and supply v non supply regulating surplus value

Social wage and micro wage subsidies

Wage subsidies and taxation can partly regulate job choice and remove Unavoidable "dynamic " ie temporay inequities in market pay rates at the local level

Cutting pay v cutting hours after institution of a social wage system

Needs analysis

Public job option

In a job max system Any cap on public option jobs Must be automatic Local and calibrated To immediate job market conditions And opportunities Only.a market job max system Can avoid gulagization of the public job option The existence of union Pub sec jobs And civil service jobs Will cause constant struggle One way or other If the pub option Is not comparable wage To the public service job Boondoggle expose Time will.rain down on the ass hole innocent Voters in Choice elections

Credit algorithms for firm temp credit flows

The small firms need " a state of the market" Credit line from the local Short term public credit facility A counter cyclical line Of course