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Economic systems are chosen. What are the choices? Who gets to choose?
In any nation with an open society, elections often turn on the state of the economy. That is the nature of political economics. But what is an economy? It is the result of decisions made years before when systems of law, finance, and employment were crafted. Those choices might have created an economy based on consumer choices, a "Tiger Model" producing industrial exports, or an oligarchy that simply enriches itself.
All of these are choices that were made. Yet these nation-level decisions are small compared to the choices which run our planet.
One month after troops stormed the beaches of Normandy in the final drive to win the war, delegates of all large nations gathered at the resort of Bretton Woods to win the peace. The result of that conference is the global system that the world operates to this day.
Since then, technology has advanced, nations have risen, and people are more connected. Billions were lifted out of poverty. But this relentlessly industrial model has become a victim of its own success. It also is not always resilient, sustainable, or focused on the human need for dignity and happiness.
Many principles of The Enlightenment guided the choices which went into this system. These include free trade, open access, and opportunity for all. There was a political and economic philosophy guiding these decisions. Yet, almost despite that, these choices were made from the top-down.
As that system was chosen, a new one will be one day, and possibly soon. But who will choose? How will they choose? More importantly, will it work for everyone?
If new economic and public policy choices are to be more bottom-up, we need a common language to describe the universe of possibility. Only then can we have reasoned discussion, debate and decision.
This stretches far beyond a one-dimensional "left vs right" or the systemic "-isms" which are often solutions in search of problems. The choices are nearly limitless in scope, yet lie within a bounded region. It's an almost mathematical definition of a chaotic system.
Yet those choices we can make, we do make, are describable and be made with some degree of reason.
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