Molly Scott: How Can We Rethink the Factors of Production for a World of Common Ownership and Sustainability? Europe and Latin America Compared

Abstract: The classical economists bequeathed us an understanding of the nature of economies in terms of three factors of production: Land, Labour and Capital. It is the exploitation of these resources in differing combinations that has fed the world of global corporate capitalism. If we are to transcend the unsustainable and inequitable economy we live with today an intellectual reinterpretation of these three factors is a vital first step.   In this paper we provide such a liberating reinterpretation with examples from European and Latin American praxis. In terms of money we explore the rejection of debt-based money systems and the popular replacements in the forms of local currency and direct peer-to-peer lending. Please click here

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