Abstract
This paper examines Economocracy and Representative Economocracy as creative approaches to tackle global debt as well as promoting economic sustainability. Prior works are “Economocracy versus Capitalism” and “Economocracy’s Equalizer”. Also, the theory of Cycle of Money involved in the economic procedure, like in the case “Index of the cycle of money – The case of Poland”. The study proposes Economocracy as a reformed economic system that combines the principles of free market with the mechanisms for managing disruptions such as wars, recessions and economic crises. Unlike traditional capitalism often aggravating worldwide debts or instabilities in the economy, Economocracy emphasizes upon decentralising its economic control so that decisions reflect democratic principles while supporting social stability. To support these assertions, there is need to use both theoretical and mathematical analyses to find out if Economocracy can overcome basic problems associated with capitalism like controlling local and global economic dysfunctions. The results imply that Economocracy has potential solutions for global economic issues as long as it effectively circulates capital while promoting democratic governance and healthy economies. Economocracy is a credible alternative to traditional capitalism capable of solving worldwide economic challenges without sacrificing democratic values.
Published Version
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