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Better Lives for All w/ Jason Hickel

Upstream

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Advocating for Economic Democracy and Sustainable Production

Governments can issue currency to support necessary production for social and ecological goals without necessarily leading to inflation, provided they scale back less vital production sectors. By decreasing the purchasing power of the wealthy and restructuring production towards essential goods, society can mobilize resources effectively. Modern Monetary Theory (MMT) argues that money is a representation of real resources, emphasizing that resource allocation should shift from private capital to societal control, allowing for democratic decision-making on production priorities. Existing corporate planning, often undemocratic, can be transformed into a more grassroots, public interest-oriented model. While some aspects require central planning—such as renewable energy initiatives—other productions can benefit from decentralized approaches led by worker cooperatives or community groups. Economic democracy empowers workers and communities to decide what and how to produce, aligning outcomes with social necessities and ecological objectives. This transition is vital for ensuring that production is responsive to genuine human and environmental needs rather than delivering exclusively profit-driven outcomes.

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