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Overview
George offers a direct and powerful challenge to the fatal shortcomings of virtually all currently dominant economic paradigms, including those of capitalism, socialism, communism, and so-called mixed economies. The alternative socioeconomic democracy, and advanced theoretical model in which there is some form of universal guaranteed income as well as a limit to maximum allowable personal wealth, combined with a realistic degree of human flexibility based on public choice theory.
Arguing that such a procedure would allow a society to democratically control the extreme limits of material wealth and poverty, the author forecasts that such a system will create strong economic incentives while reducing the present undesirable and expensive social problems associated with the maldistribution of wealth. This innovative book will be of interest to scholars and others interested in exploring ways to strengthen democracy while improving economic systems around the world.
Synopsis
A powerful critique of current economic paradigms, and call to create an alternative of "socioeconomic democracy."
Booknews
George (founder and director, Center for the Study of Democratic Society) sets forth a sketch of the socioeconomic system he would find desirable. Socioeconomic democracy would be based on a theoretical model that democratically places limits on the disparity of wealth and personal income that will be tolerated in a democratic society, principally through the creation of a universal guaranteed personal income and a maximum allowable personal wealth. He examines the possible variations of the system and compares it with certain features of Islam, in particular the <-->a tax on welth to be use for all society. He presents justifications for his model and explores matters of economic incentive and self-interest. Annotation c. Book News, Inc., Portland, OR (booknews.com)