Special wpa

People's China needs a universal social wage system NOW!!

Start small Each citizen an account with a wage payment formula based on years of work Then issue a card useable like an atm card To everyone Next slowly pour in monthly payments Start small and build carefully But implement the mechanism asap

Pure credit capitalism

Securitized founding funds and all subsequent funding Phelps CONJECTURE that scarce funding sharpens investment choices among candidate investments Are CREDITOR mediated funds More value creating then owned findings The scattering of funding into isolated agent principal hands Home cooked meals over restaurant meals Is there some optimal switch point from self finding to outside funding Extracting operating profits To be re filtered improve innovation or dampen it

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