What is the name of the current social system?
I think it is safe to say that we are living in the Market Economy.
If you live in the Europe, Euroasia or any part of Americas continent.
Or Africa and Australia, that is basicly an entire world.
The Capitalism of Free Market Economy is where we currently at
for the past hundreds of years.
Since the beginings of time, the Neolithic revolution, some 12 thousands years ago,
we developed and evolved to what today is called Market Economy.
Market Economy has three famous modes.
- Capitalism (Year > 1400)
- Communism ( Year > 1848)
- Socialism (Year > 1900)
- Mercantilism [Year ~1500 - 1700]
- Feudalism [Year ~800 - 1400 ]
- … <Insert more meaningless wealth/resources distribution modes under Market Economy>
But this thread is mainly focused on Market Economy not its modes.
Note: Some information about that can be found in TZM-Activist-Orientation-Guide-2009.pdf
Note: Natural Law Resource Based Economy is not a mode of Market Economy.
Economic history is interesting, it’s history of perception.
If you were to ask Neolithic or Pre-Neolithic Hunter gatherer of what economic model was like. If they could even conceive of such notion. It likely be something along the lines of strategic harvesting around seasonal earthly regeneration, locating optimized yields, tactics for physical storage and the like.
Public Domain, The Harvesters, Pieter Bruegel the Elder (1525–1569 Brussels)
Today of course things have become much more complicated.
Yet we should not be intimidated by Modern Economics, regardless of how sophisticated it may appear. In fact, I would say that our current practice originated in exactly the same way all the other practices did with people basically just making stuff up as they go along, around apparent evidences that seem to make sense, with usualy a grace period of sorts, before an inevitable fallacy: a certain assumption surface, through negative consequences.
Creative Commons, Hungarian Socialist Workers’ Party (Magyar Szocialista Munkáspárt)
The vast majority of what we call economics as it is presented in universities, financial circles today. Is really outdated, irrelevant and increasingly detrimental form and system, when the talk comes about the actual maintainance of life on the planet earth. It’s life blind.
There is no structural recognition of any basic natural law processes, earthly sustainability, public health factoring and the like.
In Market Economy view, these are externalities, and in the millions of printed pages of the mainstream economic theory from seventeenth century onward, you will likely won’t find a sentence about natural technical processes that actually create and assist in meeting human needs.
For more, refer to the Lecture: Peter Joseph “History of Economic Thought” ZDay 2013 - YouTube