Posted by: Dr Churchill | December 6, 2014

Economic Democracy

Great Economists leading Big Banks and Leading Countries were summoned to the Asia Pacific meeting to discuss paths to growth for a stalled world.
Of course in those Big Ego pissing contests masquerading as Summits of economic power and World leadership — the meetings are not designed to foster new ground, but to simply reaffirm long held beliefs.

True to form not much is ever accomplished and certainly No Consensus emergence has ever been on=observed by this humble participant of this most important Asia Pacific World Summit.

Yet being in China is a lesson a minute — in economics, politics, and humanity — the Summit provided a total and revealing look into the most powerful people of this Earth.
Somehow world leaders let their hair down in the company of their ilk and in remote places like Beijing safely ensconced away from journalists and meddling outsiders.

And Economics is the language of common understanding there…

And still most leaders, living great economists, and astute economic observers of China’s meteoric growth since Deng Xsiao Ping 30 years ago — still see China’s rise as an example of Market Capitalism at work in an strategically organized and dependent economy to the US and Europe’s consumer societies.

Yet in my mind — nothing could be further from the Truth.

The Asia Pacific Global Meeting proved that beyond doubt although it will not be found in the proceedings or the annals of the Summit.

For me and all the clear eyed and not opium befuddled observers – the reason for China’s rise is their Confucian practice of Economic Democracy.

But what is that?

What is the Meaning of Economic Democracy?

Economic Democracy is localized growth and ultra beneficial reinvestment of the fruits of this growth for the benefit of the producers of local wealth — thus creating a virtuous cycle.
Similar to how the purpose of political democracy is to provide for political empowerment to all citizens; the purpose of economic democracy is to provide economic empowerment to all citizens.

And along with that to all the local communities, engaged in it.

Economic Democracy also prevents the concentration of economic power that subvert mass political and economic empowerment.

To ensure economic empowerment, four fundamental conditions are required, two of which are individual and two of which are collective.

Basic necessities and amenities guaranteed to all people
Increasing purchasing capacity guaranteed to all people
Local control of economic decisions, made on the basis of collective necessity


The greatest accomplishment of Economic Democracy is that there is no outside interference in the local economies or significant capital drainage.
This alone in times of Crisis as in the peripheral economies of Europe and specifically of Greece — is akin to the Golden Rule.
And it needs to be followed because it will really save lives.
So if there are any intelligent Greeks left in the old country this is the remit.
Follow this model to save your lives and those of your children unless You want to become Helots and Slaves to the Germans forever.
Goodbye the old country…

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