By Taraka 2015
Principle I: Minimum requirements guaranteed to all
Principle II: Increasing purchasing capacity guaranteed to all
Principle III: All resources in a socio-economic unit should be controlled by the local people
Principle IV: Production should be based on consumption, not profit
Principle V: Production and distribution should be organized through cooperatives
Principle VI: Local …
(Oct 16, 2014) – “There’s been a significant correction in U.S. equities and that’s shaken investor confidence,” Toby Lawson, head of futures, options and cash equities trading for Asia-Pacific at Newedge Group SA in Sydney, told Bloomberg today. “Geopolitical risks and the spread of Ebola are adding to global economic uncertainties. When the market is a state of flux, …
"People will have to opt for either political democracy or economic democracy. That is, they will have to choose a socio-economic system based on either a centralized economy or a decentralized economy. Which one will they select?"
– Shrii Prabhat Rainjan Sarkar, propounder of PROUT
1) The first requirement for economic democracy is that the minimum requirements of a particular …
2) The second requirement for economic democracy is that increasing purchasing capacity must be guaranteed to each and every individual. In economic democracy local people will hold economic power. Consequently, local raw materials will be used to promote the economic prosperity of the local people. That is to say, the raw materials of one socio-economic unit should not be exported …
3) The third requirement for economic democracy is that all the resources in a socio-economic unit should be controlled by the local people. In particular, the resources which are required to produce the minimum requirements must be in local hands, and all the industries based on these resources will have to be controlled entirely by the local people. Local raw …
4) The fourth requirement for Economic Democracy is that production should be based on consumption, not profit. Most countries in the world have adopted economic systems which are profit oriented – that is, production is undertaken for profit. Producers give first preference to those items which bring maximum profit, so everywhere there is keen competition regarding the production of the …
5) The fifth requirement for economic democracy is that production and distribution should be organized through cooperatives. One of the principal reasons for the past failure of the cooperative movement is economic centralization. It is extremely difficult for cooperatives to succeed in an economic environment of exploitation, corruption and materialism, so people cannot accept the cooperative system wholeheartedly. Cooperatives are …
6) The sixth requirement for economic democracy is the local people must be employed in local economic enterprises. Unless the local people are fully employed in the local economy, unemployment can never be solved. Local people should determine the quantum of minimum requirements and the basic policies connected with their own economic well-being. If this principle is followed the problem …
7) The seventh principle of economic democracy is that commodities which are not locally produced should be removed from the local markets. As decentralized economy aims to develop local industries and create employment for the local population, those commodities which are not produced within the local area should be banished from the local market as far as possible. It is …
8) The eight principle of Economic Democracy is that planning should function on various levels such as the block, district, state, national and global levels, but block-level planning will be the basic level of planning. Block-level planning is essential for economic decentralization, so it should be adopted in all blocks. There should be provision in the constitution for block-level planning …
