Green Valuta: Governing a Planetary Economy (2021)



KEYWORDS: GLOBAL-LOCAL COLLABORATION • A GLOBAL REDISTRIBUTION SYSTEM • ALTERNATIVE TO CAPITALISM


A Collaborative take on Regrowth, Planetary Economic Activities, Natural Ecosystems, the Global-Local Economic Society,

and an Alternative Currency System: a Redistributive Economy, that Encourages Resilience, Inclusion, and Increased Equality, as well as it must

Support Nature, Diversity, Adaptiveness, and Provide More Justice Among Us. 

Work in progress...



Note: due to size problems with this essay, the remaining parts of this project will the be uploaded as a PDF-file, after it is completed by the end of 2021.





PRELUDE

THE OUTBREAK OF A PANDEMY

A Historical Shock as an Opportunity to Create Structural Changes


"As the coronavirus continues its march around the world, governments have turned to proven public health measures, such as social distancing, to physically disrupt the contagion. Yet, doing so has severed the flow of goods and people, stalled economies, and is in the process of delivering a global recession. Economic contagion is now spreading as fast as the disease itself. [...]. In this uncharted territory, naming a global recession adds little clarity beyond setting the expectation of negative growth. Pressing questions include the path of the shock and recovery, whether economies will be able to return to their pre-shock output levels and growth rates, and whether there will be any structural legacy from the coronavirus crisis." (Carlsson-Szlezak, Reeves, and Swartz 2020).




IN SITU ABSTRACT

THE GLOBAL NERVE OF HOPE

From an Existential Historical Shock towards a Planetary Economy


Indeed, the global nerve after a historical shock or a so-called exogenous shock is shaky, uncertain, and unpredictable. Our hopes for the future is, nevertheless, one of a glimmering, and sparkling kind. However, because of the pandemy raging around the globe, we can all feel the tensions, just by taking in the news from a television, scrolling social media apps, reading the newspapers, or by listening to the radio. It is, most certainly, a frightening, heartbreaking, and devastating historical event for all of us! In this crisis we need each other! And, in togetherness, we need to start asking the right democratic, adaptive, and ethical questions (Piketty 2017, Seres 2021). Also important to stress: Krugman (2020c) argued before the coronavirus that "the rules of the game changes" after a profound crisis. But, he referred to the financial crisis in 2008-2009 (Krugman 2020c). The financial crisis was not a global crisis, it only effected parts of the world. However, its measures had global repercussions (Georgieva 2020). The pandemy, adds further dramatic consequences for our global world, our health, our loved ones, our lives, and our livelihoods, as well as for geopolitical stability, the base of economic prosperity; microeconomics, and macroeconomic stability, as well as international relations. And, in the midst of this turmoil, this brooding global society, we must take a halt. Because, it is more than legitimate to turn existential; on the behalf of our current economic system, and ask ourselves: what is an economy, if it fails to support the majority of humanity, and nature? Because, the corona crisis, also creates vast opportunities to rethink our economic system, for the better. We must ask ourselves: what works, and what does not?


It is time for a fundamental transfiguration or transformation of the economic system. From a dysfunctional economic system; with lacks in adaptiveness (Hylland Eriksen 2019), and redistribution deficiency, we must create an economic system that is more redistributive and collaborative, inclusive and resilient, tolerant and diverse, as well as adaptive on all geographical scales. It has to make humanity and nature, recover, thrive and rise again, and secure a more geographically evenly dispersion of advanced technologies, and resources. It must emphasizse on technological fairness,and constructive competition, at the expense of technological power abuse, monopoly, and exploitation. Additionally, it must accentuate on a healthy economic and political power balance globally, hence it must also address pressing geopolitical matters, macroeconomics, international currents, and urgent global issues tied to natural ecosystem resources, ecological responsibility, and an ecological reconstruction. We must base our global economy on renewable energy and renewable resources, in order to create a sustainable economy for the future. Given the situation our global society is in: it is time to change the rules for the better, and create new and holistic or governing just and green principles for our future, that safeguards a just and fair redistribution of resources. We must not let this historical shock change our planet, our world, for the worse. Furthermore, we must shape a sustainable economic system, within the frameworks of an adaptive governance system with citizen's empowerment, local responses or simply bottom-up approaches. This global-local, social-ecological, socio-economic, and socio-technical system, must be able to take on the challenges that our global economy is currently facing. These global economic system challenges are: (1) a potential societal and ecological catastrophe, (2) the uneven geography of political instability, (3) the rise of humanitarian crisis, (4) a rise in social, political, economic, and environmental inequality, (5) a lack of a unifying adaptive governance, and (6) an uneven dispersion of advanced technology, as well as (7) the rising gap between rich and poor countries. The problems are piling up!


Nevertheless, even though we need an alternative economic model sorely, it is important to note that the alternative system which will be stated, is not an all-inclusive answer to all these societal problems mentioned. Stay patient clever reader, and keep your hopes high! It's about to get exciting: it's time to step up the game! The most fundamental question in this context is, however: are we up for it? Are we up for a system change of our current economic system? However, the next years are pivotal for the environment and our global economy. It will show us whether we possess the capacity of governing our global economy, in a way that favors the majority of people, and nature. It will show us if there are any structural legacy to draw from the challenging environmental, institutional, political, social, and economic global challenges we are up against: can we change the gravely and problematic situation we are in, for the better?






ACTION PLAN INTRODUCTION

TO SKETCH BY USING THE BIRD-EYE PERSPECTIVE

A Planetary Economy as a Game Changer for Humanity, and Nature


From a critical eye on our current economic system, towards narrowing down the scope of this brief paper. The author has had to make her internal trade-offs, based on a careful selection of literature, which may highlight the most pressing and relevant and urgent challenges, and critiques of our current economic system. The uneven distribution of food, and irresponsible production and consumption patterns, will e.g. be addressed more thoroughly in essays planned separate to this brief essay. And, the increased gap between the real economy and finance, will not be analyzed in this text. Because, as Krugman (2020) argue: finance is not a part of the real economy. Therefore, it does not necessarily have direct effects on how our real economy performs, or works. However, finance and its effects on the real economy, requires more of an in-depth study, which this brief essay cannot provide space for. Furthermore, the technology required in societal progress, and in producing problem solving technological innovations, to answer to our environmental problems, is in general not an all fix, that would be naïve to think, unrealistic to achieve, or perhaps even dangerous to rely on (Miller 2017). The dilemmas, catches, and advantages of advanced technology, will be discussed more rigorously in this essay's fourth theoretical section. It will be compared with the challenges and opportunities of eco-pessimism, among other comparisons. More importantly, the author has chosen to address what the majority of people, and nature need the most: the unprivileged and underestimated part of humanity, and nature. And additionally, we must sophistically maneuver among the challenges that the opponents of capitalism are up against, and respond to these urgent issues in a constructive manner. Because evidently, the economic language is also the language of power (Moene 2020). In other words, free-market capitalism equals power, and dominance. I must pull myself together and step into the chamber of power. Moreover, as problematic the economic and social, political, and environmental, and institutional trends in our global economic system are, we have to confront these demanding societal challenges now. Certainly, these systemic societal problems will only get worse, if we do not pull the problems by the root instantly: we are up against the wall! We must confront the heart of the matter, and get into this powerful, difficult, and demanding "game" right now. As a starter, the essence to our problems about capitalism stems from, or more precisely; the Achilles heel of our global economic system, is presented by the Norwegian economist Jakobsen (2019f), in the following quotes:


"Although competition means that resources are allocated in an efficient and rational way, this does not necessarily mean that the distribution is fair. [...]. When the market economy, both nationally and globally, contributes to the ever-increasing differences, with the consequence that some live in abundance while others starve, it shows that liberalism's demands for equality and justice are not met. [...]. [T]he economy should assure that human welfare, efficient use of resources and adaptation to ecological frameworks are met. [...]. Since a pure market economy has not built in any principles, that ensures us that resources are distributed in a fair way, the consequence of the differential treatment is instead that the distance between rich and poor increases in a self-reinforcing way. [...]. The solution may lie within an economic paradigm based on a foundation that unites humanism with ecological responsibility" (translated from Norwegian by the author, note: the different quotes has been pulled together by the author, see: the brackets in the text, or the full text in Norwegian, in Jakobsen 2019f, p. 70 and 73, or pp. 58-73).


The most pressing challenge of the current economic system seems to be the lack of a fair and just distribution of resources (Jacobsen 2019, p. 70). This, implies that we must create a more equal and redistributive economy: a different planetary economy, which brings together both humanism and ecological responsibility (Jakobsen 2019, p. 73). Jacobsen's perspective builds on Daly and Cobb (1989; in Jakobsen 2019f, p. 180). They argue that mainstream economy shows a lack in the "ability to handle issues related to over-consumption of natural resources and fair distribution of goods." (Daly and Cobb 1989; in Jacoobsen 2019f, p. 180). In their point of view, collaboration embedded in "network-based interaction becomes more important than competition between autonomous market participants." (Daly and Cobb 1989; in Jacobsen 2019f, p. 181): "Everything (also the market) is connected through dynamic relations (the web of life)". Since everything is connected through relationships, they add: "relations are more important than objects, and that the description of change is more central than mapping what is". To achieve such a profound change to our mainstream economy, a move from competition to interaction and collaboration, and a move from analyzing the status quo to engage in transformation, is fundamental. The author, however argue, that rather than a move from competition to collaboration, we need a balance between the two entities, in which collaboration must become more prominent, than currently is the case. This balance, among other key balances in macroeconomics, international currents, and geopolitics, will be addressed in this essay. That brings us to the author's contribution, to this highly challenging and demanding discussion of global system change, to our current economic system. Let me explain the use of existing conceptual theory, principles, notions, and concerns that unfolds heavily in this brief paper:


As a starter, the different parts of this essay are as following: prelude, abstract, introduction, methodology, theory, case comparisons, and the alternative strategy, and a postlud. All these different parts of this essay discuss what already exists, except from the alternative, which discusses transformation into a greening of our future world. Let us get started. The methodological part has five sections. The theoretical part has four sections, and the case comparisons have five sections. The alternative strategy is, however, divided into four sections. Altogether, the highly demanding global system change of our current economic system, is, therefore, explained by the author's next arguments and claims. The methodological argumented are as following: (1) the statement of claiming to create an alternative to capitalism is presented. (2) The discussion of the tabula rasa situation we are in is addressed. (3) A clarification of the author's outsider role stance follows. (4) An emphasizie on pluralism, synthesis, and decomposition, will be claimed. (5) the last methodological tool will be discussed: system transdisciplinarity, and the meta discipline dilemma, as well as connectivity, holism, and transformation. The fifth methodological tool, moves from methodology to theory: it is an integrated unification of methodology, and theory, which paves the way for global system change to our current political, social, institutional, environmental, and economic model. Next the argumentation of the theoretical parts is analyzed. The author suggests, as mentioned, a four folded theory discussion.


To break it down, it starts out with the author's discussion of (1) capitalism, socialism, political economy and welfare states, as well as the Nordic Model. (2) The eight challenges to our current economic system; free-market capitalism, will be presented. Then, the author will move on to a responsive discussion of the eight cornerstones of existing theories, principles, and notions, to narrow the gap between challenges of our global society and theory, and to scrutinize the stated problems of free-market capitalism. And, (3) the author aim at discussing key balances in macroeconomics, geopolitics and international currents. (4) Advanced technology will be analyzed. The next analysis of the argumentation is five real life cases that supports the author's core theoretical concept. These five cases are: (1) USA as an optimum currency area (OCA), and the impossible trinity (IT), (2) New Zealand and Costa Rica's pioneering body of environmental lawmaking, and constitutional reforms, as well as (3) the case on green points in Paris, London, and New York. (4) carbon pricing in the European Union (EU), and carbon taxation. And finally, (5) the Bahamian Sand Dollar. These cases work as a nutritious foundation for the next part of this project, the alternative, which goes like this:


To be clear: the alternative builds on existing theory, notions, and cases, as well as the author's own visualizations, theoretical concepts, theoretical constructions, system narratives, and concerns. The alternative has four parts. (1) The rise of an adaptive, inclusive, resilient, diverse, inclusive, and democratic governance will be deciphered. (2) Next, the autor will turn to suggest twenty f reinvented and reimagined governing green and just economic principles for a planetary economy, as the third part of her alternative transformation of capitalism into an ecological responsible, just and ecologically reconstructed society for the majority of people, and nature. (3) And fourth, the visual models will be stated. There are ten visual models in which the (4)  last models; the ninth visual model, is a meta model of the previous eight models, and the tenth is at the heart of the conceptual matter in this brief essay: the green valuta concept. All the models strive to transform our current economic global society into an integrated and holistic green society globally. Let us take a quick and refreshing dive into the ten visual models stated in this transformative alternative.


As a reminder: all of the visual models that will be expressed next highlights how our current economic system can start the trans-formation process into something new: a more just, more equal, ecologically responsible, and ecologically reconstructed global economic society. There are ten visual models in the alternative. (1) First the author make claims for a rule changing global system of constitutional reforms to support nature as a subject. (2) Then the author addresses local-global power in an adaptive governance system. (3) The third visual model of the alternative is the green valuta system as a collaborative and competitive rating system. The (4) fourth visual model discuss the transformation from old principles to reimagined and reinvented green principles. And, the (5) fifth visual model analyze a green class mobility system. (6) In the sixth model the author puts forward a transformation from an egocentric system to an ecocentric system globally. (7) The author suggests an alternation of growth types. (8) A move from behavioral economics to eco-behavioral economics is suggested. The first eighth visualizations, conceptual theory, and system narratives of the alternative, has to work on multiple levels (methodologically, theoretically and visually), and in reality on all geographical scales: the global, the regional, the national, and the local scale. Overall, the seven visual models, conceptual theory, and system narratives, must create an (9) interdependent meta model, or simply: a governing planetary system. And finally, the author maps out the system architecture, rules, and premises for (10) a green valuta digital money platform. While the first eighth visual models are parts of the third section of the alternative, the ninth and tenth visual models is part of fourth section, and final part of the alternative strategy.


Altogether, the core of the alternative stated should build upon the methodology, theory, case comparisons, and the  societal models, without simply repeating what existing theory says. It has to reimagine and reinvent existing conceptual, notions, principles, and ideas. In short, it must address the achilles heel of our current economic system, presented by Jacobsen (2020e). Let us turn our curiosity to the cut to the core research question of this brief essay. If we put our minds into it: how can we make our global economic system; an economy for the majority of people, and nature? Is it doable? These  research questions, must be answered by the author in the following arguments stated in this brief essay; on the transformation of the global economic society, into a more environmentally friendly, and just global economic society for mankind, and nature.


It is time for a game changer for humanity, and nature! Let us, if only momentarily, try to distract our attention from the pile of problems in front of us. We must not become paralyzed by the amounts of difficulties we are confronted with. We briefly have to ignore the profound feeling of being stuck in a system failure. And then, quickly turn our curiosity to the cascade of benefits and opportunities for nature and humanity, embedded in an alternative and well-functioning planetary economic system. The alternative suggested should, most of all, strive to be fit for a sustainable future: our common future (UN 1987). To achieve this, we must seize the opportunity that have been handed over to us, in the shape of a historical shock. We must, most certainly, exploit the tabula rasa situation we are in, in order to reimagine and reinvent the current economic system we live by, to create a better future for all. However, to accommodate such profound system changes, we must start by running up that hill, or climbing that mountain. Everyone have to take their part in the opportunities and challenges ahead. This, by creating and sharing fascinating and problem solving concepts and thoughts, innovations and actions, technology, and ideas, as well as environmental measures, fit for an ecologically responsible, and humane future: a game changer for the majority of people, and nature. But, what if an even more severe and grave historical shock than the corona crisis, should hit the earth? What if everything, as we know it, falls apart? Do we have an alternative?




METHODOLOGICAL TOOLKIT

FIVE METHODOLOGICAL TOOLS THAT SUPPORTS THE AUTHOR'S BIRD-EYE PERSPECTIVE


METHODOLOGICAL TOOL I

Strategy – Stating the Alternative

In Case of another Exogenous Shock, such as an Environmental Catastrophe, or if the Capitalist System Should Cease to Function


In any circumstances, it is fundamental to have an alternative plan or method. The most fundamental methodological choice of strategy must therefore; as difficult it might seem, be to create a well-functioning alternative to the capitalist system, if it should cease to function, in case of an environmental emergency, or if our global economy fails to co-work, co-create, and co-evolve with nature on a global-local level. If it fails to support a fairer distribution of advanced technologies. And, if the present economy fails to provide us a more equal and just social and economic alternative: it will leave the majority, if not futureless, then certainly less prosperous, and with more restricted livelihoods and freedoms, than the privileged few. This is why we need to make the most out of the crisis or historical shock we are in, to change the rules of the game that we reluctantly have had to play by, up until this point. And then, suggest reform-friendly principles for our future. We must put our trust and enthusiasm in problem solving mindsets, and believe that there are multiple economic system combination possibilities, that has not yet transpired to us. These might be far better suited to approach our urgent societal matters, such as social and economic, institutional and political, as well as technological, and environmental challenges, concerns, and hopes for the future. We are not stuck forever! Given this, the core question that comes to my mind is: why not switch to a more preferable "game", with better future prospects for humanity, and nature? Our current free-market capitalist system, has proven to us that it is surely not as sustainable or resilient, responsible or adaptive, stable or equal, redistributive or collaborative, tolerant or diverse, as we would have anticipated. And, which we legitimately can demand from a well-functioning global economic system, in the future.


To elaborate on this, whether we like it or not, we have to pave the way for system changes of our dysfunctional capitalist model, since it does not work for the majority of mankind, or nature. In other words, our current economic system suppress, or ceases to support our natural eco-systems, and the majority of mankind. "The globalized economy is so destructive, for both humans and ecosystems, that a new economy is needed." (Nordberg-Hodge 2016; in Jacobsen 2019c, p. 288). Furthermore: "The dominant paradigm based on the idea of the economic man must be replaced by an acceptance of the "man in the community"." (Daly 1991; in Jakobsen 2019g, p. 179). We have to change because we have pushed ourselves; our natural eco-systems, our physical surroundings, and humanity, to the limits. Kumar argued in 2002: "We are now at a crossroad, either we can continue on the same path, or we can choose an economy that serves the best interests of the community." (Kumar 2002; in Jakobsen 2019a, p. 238). However, in 2021, we are still at the same crossroad. Let's get it right this time! Sen supports the vison of the man in the community, and refers to Smith (1997), who argues that


"[m]an ought to regard himself, not as something separated and detached but as a citizen of the world, a member of the commonwealth of nature, and to the interest of this great community, he ought at all times to be willing that his own little interest should be sacrificed." (Smith 1997, p. 22; in Sen; in Jakobsen 2019a, p. 242).


Indeed, 2021 may be the pivot year for global system change, in which we take the right turn in the crossroad, and make a move towards solidarity with the commonwealth of nature. Because, there are human and planetary limits to growth, which we have surpassed (Meadows et al 1972). This, measured by e.g. increased job insecurity and income inequality, and increased ecological footprints, which makes human beings live in economic uncertainty, as well as to live in a dysfunctional economic system: a global society which degrades natural ecosystems and – supports economic and social inequality, as well as political injustice (Meadows et al 1972, Dicken 2011a). In short, we have had to live in an economic system, in which economic growth has caused e.g. increased population, increased food production, increased industrialization, increased pollution, and an increased consumption of nonrenewable natural resources, and it exceeds social, and ecological boundaries globally (Meadows et al 1972, Raworth 2012, 2017). Our core aim must therefore be to create a future world in balance, in which nature's given boundaries, and social limits, are not exceeded (Meadows et al 1972, Raworth 2012, 2017). In other words: we have to e.g. construct an innovative environmental contract globally, in which each country commit to constitutionally protect nature, and human beings. Additionally, we need an alternative to capitalism; in case of a collapse, an emergency, or most certainly: in case of a continuous system failure to justly support humanity and nature, in an ecological responsible, humane, and lifesaving manner. 




METHODOLOGICAL TOOL II

Seize the Moment

A Tabula Rasa Perspective to Structural Changes, Created by an Exogenous Shock


That said, it is time to find an environmental cure to our societal problems that must be embedded in a structural change, and a radical change of our global society, by the means of a planetary, redistributive, and collaborative economic model. This economic model must put resilience and diversity, a just and tolerant global society, respect and adaptiveness, trust and care, openness, transparency, and governance, as well as inclusion, at the top of the list. It must also transform the economy from being linear to resource generating loop systems that alternates between different growth types to favor humanity, and nature. In order to support this new world order: the post-corona order, with new power configurations, new options to collaborate, new planetary perspectives, and new geopolitical alliances, we must change our global, national, regional, and local economic societies radically. This year; 2021, is a milestone historically. We are in a groundbreaking shock. This represents a vast and powerful opportunity, to change the unequal, unjust, and unfair economic system we have constructed, which causes an over exploitation of nature. This economic system favors the privileged few, rather than the majority of people, and nature. We need to start rearranging and redistributing the resources we possess more fairly, and more equally socially and economically, environmentally, and politically. To achieve that, we additionally need to start rethinking the organization or the arrangement of our global economic society. And, start this transition towards sustainability, by evaluating tabula rasa options to the arrangement of our present economic system, in which we decide what to keep, what to learn from, and what to throw away. At least: we must make a real effort in trying to lead the economy into more sustainable patterns. These sustainable patterns must supports the majority of mankind, advanced technological fairness, frontline science, entrepreneurial businesses, and nature jointly.


We must enable nature and humanity to co-work, co-create and co-evolve, socially, technologically, politically, institutionally, and ecologically. It is time to open up for a real conversation and a dialogue with nature. The corona crisis might make most of us to rethink our lives and our existence, as well as urgent existential matters tied to our global society. Because of that, we have already become more prone to adapt to changes. We must accept that we are in a favorable tabula rasa moment! The year 2021, could be the year of fundamental, and rapid societal system changes, with global repercussions. The world is tossing and turning, and changing as I write. The structures are changing. We must seize the opportunity. But, remember: we create the structures, we are the structures, only we can change them. We must break free from pre-existing chains of societal problems we have nurtured, and start reinventing and reimagining what kind of governing societal principles we need, to improve ourselves, our world. Because, what the earth needs, is what we need too! We too are nature.


It is time to clean the table, and take in all the impression from existing economic theories and notions, in order to reimagine and reinvent these. Let us start out by rethinking theoretical concepts, principles, and notions in our mindsets, and at least try to reimagine and reinvent our existing theories, and notions, principles, and ideas. The tabula rasa moment is here. We must let the structural changes unfold, and not fight against it. And, do everything in our power to steer the structural changes in the right direction. This time of the 21st century is our pivot moment for ecological responsible actions and behaviors. In order to create something original, or odd, fit for a different era: we must take a moment and pause to think, and then innovatively navigate into the unknown. The final achievement of this global system change quest, must be to make sure that we have kept the best from the past, learned from our mistakes, and added a twist; an original theoretical concept, which can be applied to the real world. This innovative goal, must be present in all the steps required to solve this riddle: the global system change challenge. And, the result must be fit for an ecological responsible, and humanist future: it must work for all of us, and nature, jointly. But, what kind of position is best suited to take on such an ambitious; or perhaps even unrealistic challenge, and unsound quest?




METHODOLOGICAL TOOL III

The Outsider

Navigating into the Unknown: The Insider-Outsider Paradox in Qualitative Research 


The global upheaval we are experiencing, creates an opening for the objective outsider's perspective of reinventing and reimagining economic theories, and notions, principles, and ideas: a tabula rasa situation, in which we have to sort out what to keep, what to learn from, and what to throw away. In order to achieve this, it is of great importance to take a position. And, the author's role, is a qualitative researcher's outsider stance, towards the current economic system, and furthermore, the author must own this position. However, what kind of stance, objectiveness and preconceptions, and biases, is embodied in the understanding that follows such a self-proclaimed position? This questions intrigues the author, but the author cannot provide space in this brief essay, for the in-depth inquiry such a question deserves. The author will, nevertheless, discuss the insider-outsider divide.


"The qualitative researcher's perspective is perhaps a paradoxical one: it is to be acutely tuned-in to the experiences and meaning systems of others—to indwell—and at the same time to be aware of how one's own biases and preconceptions may be influencing what one is trying to understand" (Maykut and Morehouse 1994, p. 123; in Corbin Dwyer and Buckle 2009).


While the insiders have access to meaning systems, notions, and theories, cultures, and interpretations of these, the outsider's obvious advantage is based on the same arguments. But, it is a freedom from these meaning systems, cultures, theories, and notions, as well as its interpretations. This makes the outsider prone to be objective, freed from indoctrinated knowledge, and possess the ability to be innovative, in the best sense. Because: "When we see ourselves and society from the outside, we discover connections that are not so easy to see from the inside." (Kumar 2013; in Jakobsen 2019a, p. 240). Moreover, the author's outsider role, is most certainly, the creative-intuitive, and visual-spatial, human geographer and architect's approach, an holistic and societal perspective, an outsider perspective. Architecture can be seen as the art of conceptualizing and creating spaces, is more visual-spatial, and creative-intuitive. Human geography can, however, be defined as the art of investigating the influence of differences in geography on human behavior or human phenomena, at different geographical scales, and places. However, Shiva argue that: "The idea of an objective and value-free science is an illusion that arose in Europe during the Enlightenment." (Shiva; in Jakobsen 2019a, p. 250). He further adds that, all knowledge mirrors our cultural roots and identity, which are tied to a specific ethical stance (Shiva; in Jakobsen 2019a, p. 250). The lack or myth of objectiveness and value-freeness in science, is a point of view that is, indeed also, supported by Harari (2017). But, there are still differences between being an insider or outsider to a field of study, in which the outsider tends to be more objective than the insider, when these two positions are compared (Kumar 2013; in Jakobsen 2019a, p. 240).


Nevertheless, from the insider-outsider approach, and to the qualitative approach of this methodological section: the author has chosen qualitative research towards a global economy, rather than economy as a dismal science (quantitative research):"[w]hile the qualitative research relies on verbal narrative like spoken or written data, the quantitative research uses logical or statistical observations to draw conclusions." (key-differences.com 2018). This means that the author will try to grasp the global economy as a system of governing economic principles, rather than a complex with given rules. It is, thus, important to note, that the global economy as nature is a system and a complex. The difference between a system and a complex will be discussed in the next methodological section.


However, how the global economy is interpreted, all depends on the role, position or perspective of the global economy, whether it is an insider, or outsider perspective to core global economic activities. And, it is of great importance to take a stance, a role, a position in the game of free-market capitalism. Furthermore, the author has chosen a qualitative approach in this essay, since her goal is to enhance accessibility and democratization of knowledge (open science). In short, the task is to reimagine and reinvent economic theory, and notions, principles and ideas, to fit the purpose of this essay, which is to create a global system change, an alternative. Additionally, the motivation is to construct an integration of knowledge, through synthesis, decomposition, and pluralism, in order to construct a foundation for a planetary economy with societal models, governing principles, conceptual visualizations, and a protocol for a possible future. These methodological terms will be expressed next, in which the author strives to make sense of the world, and our future, as well as to add more methodological equipment to our toolkit. These equipments must support the alternative bird-eye perspective on the future of our global society. It must include theory discussions, core theoretical concepts, and theoretical constructions; and simply visual forecasting of our global economy, predicting given futures where any scenario; still, is possible. That is, if we govern the structural changes in a manner that will benefit the majority of humanity, and nature. And finally, if the author manage to create order in an otherwise messy and fragmented world, for you – the reader.



METHODOLOGICAL TOOL IV

To Create Order in a Messy and Fragmented World

Conceptualizing, and Constructing Theory for Global Changes to Our Economic System: Synthesis and Decomposition, Pluralism, and the Lack of Governing Economic Principles


Since humanity is part of nature, our global society can be regarded as a natural system guided by principles, or a natural complex guided by rules (Kahil 1990, p. 11). These rules and principles continuously change, whether we like it, or not (Kahil 1990, p. 11). While the economy as a dismal science, may be regarded as a complex governed by rules, qualitative research considers the global society as a system, which may be guided by principles. While principles are looser, less specific, and more of a guiding kind, rules are more specific, and fixed. Principles and rules must work together in a future global society, in which future principles can become rule changing, and on the other hand these rules may have an effect on future principles of our economic system, and e.g. on our social and environmental behaviour. But, as Jakobsen (2019f, p. 73) argued "a pure market economy has not built in any principles", which would have ensured us that a distribution and redistribution of resources, should have happened in a just and fair manner, that benefits humanity, and nature. Our global economic society is, therefore, unjust and unfair for the majority of mankind, and nature. Economy as a dismal science have matematical rules and algorithms, but we lack any kind of collaborative and redistributive governing economic principles, that could have tied together humanity, and nature in a social-ecological way. Because, nature is a complex and system, so is our global economy. To create a future planetary economy for mankind and nature, we have to integrate knowledge, and create a holistic perspective on nature and the economy as a complex and as a system (system transdisciplinarity).


Furthermore, to understand the global economic society as a system, the author applies two cognitive styles to understand our challenges, when facing demanding global system changes. Let us start by defining the two thinking styles suggested: synthesis and decomposition. While the cognitive process of a synthesis is to build or construct a theoretical concept piece by piece or argument by argument, a decomposition breaks wholeness or theoretical concepts into parts, to scrutinize these. This, the author applies to global system changes theoretically. Because, it is easier to understand a system built element by element, or a theoretical wholeness divided into parts, than understanding a whole system at once. Examples of systems are food security, the Nordic Model, the institutional art world, capitalism, and natural ecosystems. Both cognitive styles; addressed to understand holistic systems, such as e.g. the global society, are as mentioned, core processes needed to conceptualize, visualize,  and construct conceptual theory, on global system change. More importantly, these two procedures aims at creating coherence, and system understanding in this essay. The strategic choice of either option; a synthesis or a decomposition, is to understand and relate to core research questions methodologically. Such questions stated are: what feels most natural in identifying the characteristics of the problem(s) addressed? What brings the most original twist? Or, what unfolds the concerns of the system analysis? And finally: what kinds of arguments supports the coherence of the system inquiry most thoughtfully? Indeed, the synthesis-decomposition procedure aim at finding solutions to impossible or infinite intellectual quests such as e.g. global system changes, by creating a possible alternative or a different planetary economy. This, is executed by taking into account theory that are pluralist, heterodox, complementary, and eclectic, which may support a variety of approaches to a planetary system change, towards a more environmentally friendly global society. It also expresses my enthusiasm about the myriad of critical and dissenting ideas, embedded in a broader perspective on the field of economy, such as e.g. a system transdisciplinary approaches, or as defined next; pluralism:


"Economics is a hugely varied field, with an amazing colorful array of different paradigms, methods and focuses, and pluralist economics is [a study] that includes all of these [, by] introduc[ing] critical and dissenting ideas" (Fischer, Hasell, Proctor, Uwakwe, Ward-Perkins and Watson 2018, p. 2 and 4).


I have decided to define the key notion; pluralism, because it is perhaps the most unfamiliarly notion of the four terms, mentioned right before the quote. However, these four notions mentioned are befriended. Since heterodixity, complementarity and eclecticism is more familiar to us, these notions are more intuitively defined. Heterodoxity is; in this context, conceptual theory that separates it selves from standard or traditional perceptions, such as e.g. by being odd or original. Complementary; in this brief paper, means that different conceptual theories; alike colors, creates a neutral or a balance, when combined such as e.g. a complementary valuta. However, mixing two entities does not always result in a neutral or a balance. At times the result comes from a discrepancy between the expected result and the unexpected and actual result, this result is a so-called incongruence. However, that brings us to the last term; eclectic, which in this short text, may be understood as theories, and notions deriving from a broad range of sources, a relevant mix of quite differentiated theories, principles, and notions, that when applied, supports the global system change approach.


Every alternative conceptual theory and notions, principles and ideas that supports the author's system account in this essay is added into the text by using these four methodological notions, as a springboard to accumulate integrated knowledge with relevance for the alternative stated. Altogether, these four terms favors a system account, or a more precisely pronounced; a holistic process, such as e.g. to create order when tidying up a messy room. In this case, the messy room is our fragmented global society. We have to tidy up our messy global economic society, and clean up, as well as to restore our natural ecosystems. That brings us to the next methodological tool that may; perhaps even further, pave the way for a more holistic understanding of our messy world, in which the author moves from a methodological to a theoretical perspective on the economy of our global society. This joint perspective builds on system transdisciplinarity, holism, connectivity, and transformation that must take a qualitative and integrated stance, on our current global economic system, and on how we can transform it, in order to create a better future for the majority of people, and nature.




METHODOLOGICAL TOOL V

From Methodology to Theory

A Qualitative and Integrated Perspective on Global Economics: System Transdisciplinarity, Holism, Connectivity, and Transformation


It is important to note, that transdisciplinarity needs to be scrutinized or explained more thoroughly, than this essay can provide space for. In short, it strives to create unity or wholeness out of pluralist, eclectic, complementary, and heterodox conceptual theory in this context. Furthermore, what separates transdisciplinarity from interdisciplinarity, is the aim of creating holistic systems and approaches, that fills in the gaps of an otherwise fragmented and incomplete global economic society. Indeed, the quest of transdisciplinarity is to unify and integrate knowledge from different sectors and disciplines. This, in order to create a system account or a holistic understanding, and solve our most pressing environmental, economic, social, institutional, and political matters. And, address what structural challenges and systemic opportunities, our global economic society has to handle, through the current era of system upheaval we are experiencing. Indeed, this historical shock will pave the way for structural processes or system changes to our global economic society, which must be accommodated by system transdisciplinarity, holism, and connectivity as a methodological tool, to enhance system transformation. Let us start out by clarifying system transdisciplinarity as a notion.


“The notion of transdisciplinarity exemplifies one of the historically important driving forces in the area of interdisciplinarity, namely, the idea of the desirability of the integration of knowledge into some meaningful whole. The best example, perhaps, of the drive to transdisciplinarity might be the early discussions of general systems theory when it was being held forward as a grand synthesis of knowledge. Marxism, structuralism, and feminist theory are sometimes cited as examples of a transdisciplinary approach. Essentially, this kind of interdisciplinarity represents the impetus to integrate knowledge, and, hence, is often characterized by a denigration and repudiation of the disciplines and disciplinary work as essentially fragmented and incomplete.


If we now look at these rough and ready distinctions through the lenses of the three conceptual strands noted above, some interesting results emerge. First, consider the theoretical-practical wisdom distinction. Strictly disciplinary activities tend primarily to be concerned with theoretical understanding, while multidisciplinary activities, and perhaps even some interdisciplinary projects, are more concerned with practical results. Transdisciplinary activities, to be sure, tend toward addressing questions of theoretical understanding, especially those of the unity of knowledge, but the distinction between theoretical concerns and practical questions in interdisciplinary work seems worth making.” (Petrie 1992, pp. 299-333; in Evans 2014).


This systemic transdisciplinary approach, synthesis and decomposition, as well as the pluralist way to address urgent global societal matters, are tied to the environment, the sphere of politics, the economy, and social matters of a just and fair redistribution, healthy competition, and collaboration in this essay. It intersects or supports Mokiy's (2020) perspective on 'system transdiciplinarity as a meta discipline'; with an inherent meta narrative, meta theory, and meta model. Transdisciplinarity strives for unity of knowledge (Nicolescu, 1997; in Moghadam-Saman 2018 ). Moreover, it “[…] involves intense interaction between academics and practitioners in order to promote a mutual learning process between them.” (Steiner and Posch, 2006, 4; in Moghadam-Saman 2018). While this brief paper does not involve an interaction between researchers and practioners, it involves metamodels such as visualizations as a methodological tool, versus descriptive systems, or as in Mokiy's (2020) meta classification; meta narratives and meta theory. The idea of this essay, is to show that meta narratives or descriptive systems can co-work, co-create and co-evolve with visual models or meta models; in a synergetic way, to pave the way for a meta discipline.


Note this, system transdisciplinarity, is a system of systems, in which the core or superior system (such as e.g. the global society), is more important than the interplay of parts; the fragments or smaller systems (such as e.g. the system fragment the European Union (EU)). However, all system fragments must be interdependent functionally, in order for the superior system; the global society, to work optimally.


Because, since it is a connected system explanation of the interaction of systems fragments, it is also a meta discipline. However, in this lies also the weakness of system transdisciplinarity. Indeed, since it takes a holistic approach to our world, it might underestimate the power of details. This is the dilemma of any system transdiciplinary or meta discipline approach. In short, this essay is, however, not a general system theory of economics, in the spirit of Keynes' ambitious project. But, it takes a holistic approach to solving our current societal and ecological challenges, through creating an alternative to free-market capitalism. 


"To solve the problems [our global society is up against], it is necessary that we change our understanding towards wholeness and contexts instead of focusing on parts and division. On the personal level, we must move away from an "I" to a "we" consciousness, and at the system level, we must move from an egocentric to an ecocentric economy. This means, among other things, that we must develop relationships with others, with the whole system and with ourselves." (translated from Norwegian by the author, Scharmer 2019; in Jakobsen 2019c, p. 272).


Furthermore, we have to change our


"perception of reality which is characterized by separation between people and between people and nature. The solution lies in an awareness that everything in reality is integrated, and that we are part of the whole, and that we all have the whole in us." (translated form Norwegian by the author, Eisenstein 2007; in Jakobsen 2019c, p. 269).


Because, as Eisenstein continues: we are "interbeings", which means "to be one with everything" (Eisenstein 2007; in Jakobsen 2029b, p. 269). Therefore, since we are part of the global economic society and nature, we also have to start creating a "planetary consciousness", and a "harmonic interaction between humanity and nature", to endeavor our societal and ecological problems or challenges (Lindner 2011, Klein 2014; in Jakobsen 2019c, p. 264 and 266). Additionally, we have to connect and communicate, and make "a breech with established routines and frames of understanding" our current global economic system, in order to face the societal and environmental problems we are up against (Lindner 2011; in Jakobsen 2019c, p. 266). Moreover, to accommodate such societal and environmental problems stated prior in this brief essay, connectivity and holism may, therefore, be the key to understanding the relationships between the people, and nature. Because, Nordberg-Hodge (2016) builds on an integrated view of nature and mankind, in which she argues that such an integrated perspective, has to be conducted through an holistic perception of reality (Nordberg-Hodge 2016; in Jakobsen 2019c, p. 289. We are connected socially, economically, environmentally, institutionally, and politically. This point of view is supported by Zakaria (2020). The economy must therefore have an integrated and connected, pluralist and qualitative, as well as a system transdiciplinary approach, that transforms itself, or moves towards a global ecological and economic foundation.


"Manfred Max-Neef points out that economics within a holistic worldview cannot exist in isolation from other disciplines. He gives good reasons why ecological economics must be developed as a transdisciplinary science. [...]. Peter Söderbaum points out that a transdisciplinary approach is required where economics, ecology and social sciences are central. Quantitative growth is being replaced by a focus on qualitative development, which is characterized by increasing complexity." (translated by the author form Norwegian, Max-Neef, Söderbaum; in Jakobsen 2019g, p. 179).


Altogether, connectivity, holism, pluralism, and system transdisciplinarity, works as the author's core guiding methodological and theoretical principles, in order to create an alternative economic system, and to handle complex global system changes theoretically, such as transformation. Since system transdisciplinarity and connectivity, may be regarded as a meta discipline approach, it supports the author's bird-eye perspective, and the creation of governing principles and ideas, conceptual theory, visualizations, systemic narratives and notions, of the alternative.


In short, this methodological and theoretical approach must support transformation of our economic system towards a paradigm shift of our current global economic system an integrated global economic system change of our global society, in which ecological and societal changes must co-work, co-create and co-evolve. Moreover, the author will set out to identify eight key problems within our current global economic system; capitalism, and then suggest eight responsive cornerstones of theories, and notions, to these. This does not mean that there are other issues that should be discussed in the light of ecological responsibility, societal change, and economic sustainability, and transformation towards an international sustainability transition (IST). But, the author has had to sacrifice some topics, to create some unity and coherence, and to narrow down the scope of this essay. In order to be engaging, this text is a visionary mix of analytical-logical (coherence and comparisons), creative-intuitive (conceptual theory construction), and visual-spatial (visualizations and holistic approaches) language style and form. And, this brief essay must set the bars high; on how to create alternative conceptual theory, principles, ideas and visualizations on how to improve, and recommend a system approach on how to better the conditions for the majority of people, and nature of a future earth. That said, let us start the endeavor of contemplating on the core theoretical foundations of this brief essay, by scrutinizing the political economy and capitalism; its core concepts and principles, as the first part of the theoretical discussions. Let's pull out the best from existing conceptual theory, principles, and ideas on the urgent matter of requesting better conditions for mankind, and nature.




THEORY

FROM (1) EIGHT KEY CHALLANGES (2) POLITICAL SCIENCE, POLITICAL ECONOMY, SOCIALISM, AND CAPITALISM, TO (3) MACROECONOMICS, GEOPOLITICS, INTERNATIONAL CURRENTS, AND AT LAST; (4) ADVANCED TECHNOLOGY



THEORY I

EIGHT KEY CHALLENGES

Eight Demanding Challenges for a Planetary Economy: What Are We Really Up Against?


Note this: the problems stated and the solutions suggested in these two following theoretical sections, are not completely chronological. This means, that the problems or challenges that are stated, are not necessarily followed by a set of conceptual theories, which will "solve" each key problem. However, the author seeks to order this essay as much as feasible, to create order in a messy world. Altogether, every arguments in this system change narrative on the existing economic system; its ups and downs, have been placed in this text to support the core scientific question: how can we make our global economic system; an economy for the majority of people, and nature? Is it doable? Additionally, as the author argued in the abstract: this essay is not an all-inclusive alternative to free-market capitalism. And secondly, some of the problems stated here, will be discussed in this essay as a whole, to support the key scientific question. Hence, this essay has a methodological system approach (system transdisciplinarity). Furthermore, the author hopes that she will sketch out a sufficient narrative of the core problems, and challenges scrutinized. And then, bring fourth conceptual theory that may paint a clearer picture of the system arguments as a whole, as well as fragmentary explanations that has taken claims of the macroeconomic situation, geopolitics, and international relationsin our global economic society. Let us see how it this works. We must take a look at what we are up against, by addressing the first key issue, and then build from there. That's it! The first problem presented in this theoretical section is a rather grave one. We are in need of some real system changes, to bring fourth impactful solutions, on how to confront a global world in stress, to put it mildly. If you do not agree that there are societal and environmental concerns, challenges, or problems to how our current economic system works, I challenge you to pay extra attention to the following arguments, and scientific facts of this theoretical section. Stay focused!



The First Challenge: Towards a Potential Societal and Ecological Catastrophe

Our Natural Ecosystems Soaked in Problems, and Our Global Society at High Risk: Hessen's the World at the Tipping Point



The Second Challenge: the Geographical Unevenness of Political Instability

The Societal Challenges to Our Political System after a Historical or Exogenous Shock 



The Third Challenge: A Rise in Humanitarian Crisis due to the Pandemy

Displacement of the Homeless, Refugees, and Victims of Natural Disasters, Wars, and Famines, as well as the Pandemy



The Fourth Challenge: A Rise in Inequality due to Covid-19

Social and Economic Inequality, in the Age of Hardcore Economics



The Fifth Challenge: A Need for a Unifying and Adaptive Global Governance

The Need for Global Leadership and Planetary Collaboration; Embedded in Local Communities, and Citizen Empowerment, in a Fragmented Global Society 



The Sixth Challenge: the Geographic Uneven Dispersion of Technology

The Geographical Unevenness of Advanced Technological Innovations, Infrastructures, and Devices 



The Seventh Problem: The Rising Gap between Rich and Poor Countries




THEORY II

THE CORE THEORETICAL CONCEPTS OF THE ALTERNATIVE

Emphasizing on the Following Groups of Urgent Theoretical Issues: Political Economy, Capitalism, Socialism, the Welfare State, and the Nordic Model, as well as Political Science


Group One: Discussing the Five Key Roots of the Alternative Strategy

Political Science, Political Economy, Socialism, and Free-Market Capitalism



The next conceptual theories, principles and ideas works as a nutritious foundation for the alternative stated later in this brief essay, in which the author's conceptual theory and constructions, principles and ideas, as well as visualizations, rests heavily on. However, the task of this essay is not just to repeat what previous and current economic theory, principles, and ideas says. The most important task of this brief essay is to reimagine and reinvent these theoretical components, to fit the alternative stated later in this essay, in which the author strives to do her best to create something new and original, for our future world. Hopefully, the author will contribute to the vast theoretical ambitions of creating better conditions for the majority of people, and nature, along with other key contributors to this exciting system change challenge, to our current economic model. This theoretical part discusses the principles and concepts of the economy, political economy, and political science. To start with, let's see what the pioneering father of democracy; Montesquieu, have to say about the fundaments of the field of political theory, as one of the most essential root of political science, in order to create a solid foundation for the alternative that takes both economic, and political matters into account.



The First Root: Montesquieu's take on the Core Principles of Democracy: Separation of Powers, and Antidespotism



The Second Root: Smith, the Invisible Hand, Specialization, Struggles, and on How to Coordinate the Market


Smith is regarded as the pioneering father of the economy. He established economics as an autonomous field, within the social sciences (Fishwick et al. 2010c, Eriksen 2012, p. XII and p. XIII). Until Smith, there was no professional title, and no established and independent field of economics (Eriksen 2012, p. XIII). It is therefore fitting that an essay on the principle and ideas of an alternative global economy, should start out by referring to its origin, and acknowledge the historical roots of economics (Fishwick et al. 2010c, p. 141). However, economic subjects had been discussed as early as by the Greek philosophers. And, even in the hundreds years before Smith, a broad range of texts had been published. But, these were all very fragmentary according to Eriksen (2012, p. XIII). Today, he is, particularly, praised as a prophet for free trade and free competition (Eriksen 2012, p. VIII). However, Fishwick (et al. 2010c, p. 141) argue that his key contribution to the field of economics, has inspired both defenders of free-market capitalism and arguments against public regulations and public interventions on the right side, such as e.g. laissez-faire, as well as the left side of politics and economics, such as e.g. social liberalism, and the labor theory of value. His economic contribution, make up a solid foundation to the stance of new classical economy and market economy (Fishwick et al. 2010c, p. 141, Krugman and Wells 2018a, p. 2). Smith (1776) used verbal reasoning, instead of the mathematical language, and put forward simple principles to explain comprehensive and complex empirical materials, which made his arguments more accessible, and available to the public (1776; in Eriksen 2012,p. XVIII and XXIX). Three of these cut to the core principles were: division of labor and specialization, saving, and self-interest; the invisible hand. His principles was targeted on the field he called the political economy. Hence Smith (1776) problematized what we in our contemporary society have named welfare that is founded on the thoughts of a political economy, which is "the theory or study of the role of public policy in influencing the economic and social welfare of a political unit." (Merriam-Webster 2021). Therefore, Smith (1776) may have paved the way for what we today call welfare states. However, let us head back to Smith's principles. The two of the principles that will be discussed here are: the division of labor and the invisible hand, since these have relevance to the author's conceptual theory in the alternative stated. Krugman (2019) retells Smith's (1776) observations and arguments, on the division of labor, and specialization, the first principle of his thesis:


"He used the example of a pin factory to show how a group of workers, each specializing in one aspect of pin manufacturing, could produce more pins faster than the same number of master craftsmen working alone. Thus, he argued, countries were rich or poor not based on their levels of precious metals or other stores of wealth, but based on their capacity to produce the everyday things their citizens needed and wanted." (Smith 1776; in Krugman 2019, p. 13).


It seemed that dividing the tasks of the work, into specific and specialized maneuvers, made the whole process of creating commodities, more efficient and profitable. The key to understanding the division of labor is therefore: specialization. However, to introduce the next, and his core principle; the invisible hand, the author has turned to Smith (1776) in Krugman and Wells (2018a):


"Smith wrote: "[H]e intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote and end which was no part of his intention." Ever since, economists have used the term invisible hand to refer to the way a market economy manages to harness the power of self-interest for the good of the society."" (Smith 1776; in/and Krugman and Wells 2018a, p. 2-3). 


In other words, Eriksen (2012) explains the principle accordingly: "[t]he principle behind the invisible hand is that individuals who pursue their own goals, together can create an effect that they have not intended." (Smith 1776; in Eriksen 2012, p. XVIII). Smith's strong trust in this marked mechanism, lead him to support international free trade. Furthermore, Smith (1776) claimed that the invisible hand was so successful, because people possessed an inner drive to be morally just, and to picture themselves in other people's situation (Smith 1759; in Eriksen 2012, p. VII-IX and XII). Self-interests was modified by peoples subconscious knowing that the society would not consider egoism as an attribute worth following, when it came to decision making (Eriksen 2012, p. VIII and IX). Hence Smith's conceptual theories created a foundation for decision making in microeconomics (Eriksen 2012). At the turn of the millennium, nobel prize winner in economy, and an authority within the field of economics according to Erikson; Samuelson, argued that by stating this driving principle of the economy, Smith (1776) discovered something peculiar, and problematic about the efficiency of the economy's self-regulating 'invisible hand' at the same time (in Eriksen 2012, p. X): have the markets become to efficient?


"Adam Smith discovered a remarkable feature of the market economy. With perfect competition and no market failure, markets will push as many useful products and services as possible out of the available resources. [...]. At the dawn of the industrial revolution, he pointed out the great leaps in productivity that were the result of specialization and division of labor." (Samuelson; in Eriksen 2012, p. X).


Brown, further argued that Smith was a supporter for an egalitarian view of the society, and was a steady defender of social justice, as well as being a vital voice against suppression (Brown; in Eriksen 2012, p. IX). The Norwegian economist Moene, claimed that Smith was "The Champion of the Poor" in a newspaper article (Moene; in Eriksen 2012, p. IX). Rothbard (1995), nevertheless pulled out the strongest criticism on Smith. He stressed that Smith (1776) had had an impact on the growth of socialism, Marxism and unionization, which he himself did not support (Rothbard 1995; in Eriksen 2012, p. X). Rothbard (1995), further argued that Smith (1776) failed to explain why the capitalists' profit was justified, which made it easy for socialists to claim that any exchange of values and shares was suppression (Rothbard 1995; in Eriksen 2012, p. XI). However, Eriksen (2012, p. XIV) strongly defends Smith (1776), and argue that Smith was a "liberal defender of freedom and social progress for the whole of the society" (Eriksen 2012, p. XIV). And, he claimed that "increased division of labor was the key to increased prosperity" (Smith 1776; in Eriksen 2012, p. XVI). Smith (1776) stressed that population growth was the most clear indicator of economic growth and prosperity (Smith 1776; in Eriksen 2012, p. XVI). More people equals bigger markets, and more people equals better work effort proportionally (Smith 1776; in Eriksen 2012, p. XVII). Furthermore, since capital accumulation was a criteria for increased division of labor, it also became the criteria for increased prosperity according to Smith (1776; in Eriksen 2012, p. XVII).


From prosperity to coordination of the market and productivity: Smith (1776) argue that there are two types of befriended mechanisms that coordinates the society's productivity: (1) coordination through transactions in the market, and (2) coordination through real investments that is governed by the profit rate. The sum of these two kinds of coordination of the market is that "the members of society are optimally supplied with goods, despite the fact that there is no plan behind the way the market works." (Eriksen 2012, p. XIX). However, an efficient market does not mean that it is just environmentally, politically, institutionally, socially, or economically. Eriksen (2012) nevertheless argue: while the invisible hand coordinates the allocation of resources, it is the market price that signals the quantum of commodities supplied to the market (Eriksen 2012, p. XX). To be clear: Smith (1776) was an optimist, when it came to peoples embodied moral code, and economic development, which went hand in hand to push humanity towards greater prosperity, and freedom according to Smith (1776; in Eriksen 2012, p. XXI). These arguments, are worth contemplating on, before heading to Malthus' principle of population, embedded in conceptual theories, and notions on productivity.


But, the truth is that free markets can sometimes can be a hinder to advanced discussions of more redistributive and universal human development, such as the quest for more equality and justness in our global-local society. In practice, it may enhance egoism, which are not based on moral codes, but are basically a prove of mere self-interests, rather than a fair play of environmental, political, institutional, social, and economic justice and equity, evolving and working together with free market forces. Additionally, too efficient free markets may lead to overconsumption and environmental destruction, such as e.g. climate emissions, destructions of eco-systems, and deforestation, which may compromise healthy consumption patterns, quality, ecological responsibility, and an ecological reconstruction. Is there a way to fix this problematic and unjust game? Is there also a way to make competition fairer, and healthier? Is there a way to take matters of social, political, institutional, economic, and environmental justice more seriously, than currently is the case? And, what are actually free markets, free competition, and free trade: freedom for whom? Or, should it rather include freedom from economic exploitation, freedom from environmental destruction and climate emissions, less inequality, freedom from unjust, and an absence of capitalist monopolies? Do we, as Chang (2010c) argue, need less efficient financial markets, without compromising the clear and outspoken values and benefits of specialization, fair, motivational and playful competition, economic development, and prosperity? And, what kinds of effects does too efficient markets have on the real economy? While the author will not address the financial market/real economy divide, due to the lack of relevance for the core intellectual question raised in this essay, the other questions are, however, at the heart of the analytical discussions of the theoretical sections in this essay. These questions will be used to decipher and support the core problem of this essay: how can we make the current economic system, a global-local society for the majority of people, and nature? And, what kinds of ethical discussions, democratic compromising, and struggles on equity, free-market capitalism, ecological responsibility, advanced technology, human limits, and planetary boundaries do we need to go through in order to get there?


Smith (1776) discussed struggles, both class struggles and power struggles, which make up the foundation of Marx's conceptual theories, principles, and notions on this topic. Therefore, let us start out this discussion by a brief analysis of Smith's (1776) inquiry into class struggles, and then move on to power struggles. His arguments on class struggles goes like this: (1) there are three classes: workers, capitalists and landowners, (2) Every class identify themselves in relation to the means of production: the workers own their work effort, the capitalists owns the capital, and the landowner owns the soil. (3) Every class' pay is defined according to their connections to the means of the production: the workers receives their salary for the work done, the capitalists earns their profit, and the landowners receives their ground rent. (4) The price of the commodity is tied to the worker's salary, the profit on the capital, and the ground rent. (5) The workers salary and the profit, moves towards a natural level. (6) The worker must make sure that their expenses are covered, and the profit is dependent on the sum of capital in the economy according to Eriksen (2012, p. XXIII). However to make account for the problem of circularity in these price theory arguments, an alternative theory was more popular to apply to the current economic society (Eriksen 2012, p. XXIII). It was the labor theory of value, which stated: "one could determine the exchange ratio between goods by measuring the work effort involved" (Eriksen 2012, p. XXIII). Thereby, on the left side of politics and economists, the invisible hand, is an inspiration for the labor theory of value:


"Smith was an adherent of what is known as the “labor theory of value” (LTV). At its most general, the LTV explains that the value (and price) of goods is determined by the amount of labor that went into their production. Sometimes the LTV is generalized a bit more to include other inputs, turning it into a “cost of production theory of value.” What is important here is that in all forms, the LTV and its broader interpretations see the value of outputs as being determined by the value of the inputs that went into producing them." (Horwitz 2019).


That said, let us turn to the arguments of Smith's theories on power struggles, as a continuance of his arguments on class struggles. These arguments are as following:  (7) the creation of value between the three classes happens through a power struggle, in which the workers are the weakest link, and in which each class will strive to maximize their share and value, by using different methods. The fight or struggle for greater shares and value was therefore not just a class struggle, but also a power struggle according to Smith (1776; in Eriksen 2012, p. XXV). However, (8) Smith (1776) argue that the capitalists, might try to develop monopolies, to increase their profit and cease to compete fairly, and thereby make allies against their consumers, and their employees, as well as against nature. Nevertheless, (9) Smith (1776) also argue that the capitalists have great knowledge in the creation of value and shares for their businesses or industries or nature, or their countries, and create jobs (Smith 1776; in Eriksen 2012, p. XXV). (10) Because, according to the invisible hand, capitalists that seeks to increase the profits for their businesses, will in sum, create an effect that they did not intend to (Smith 1776; in Eriksen 2012, p. XXVI). That brings us back to the start, the invisible hand, the coordination of the market, and specialization.


Altogether, the kind of information in this section on Smith will be useful later in this text. So, let us try to keep these arguments in mind. However, as we move forward to the next literary task: Ricardo's principles of the political economy, and taxation, the author will have to remind herself to pay extra attention to: free trade and the principle of comparative advantages. It's time to get focused on Ricardo (1911); acquire knowledge and understanding; from his principles on the political economy, and taxation, in order to become mesmerized by his intricacy! The key to understand both Smith (1776) and Ricardo (1817) is specialization and coordination at different geographical scales, which gives us quite different outcomes to contemplate on. Next you will discover the beauty of how these two simple and clear cut abstract theoretical concepts or principles, can be applied to understand economic phenomena that are tremendously apart from each other, both in its nature and characteristics, as well to comprehend the author's analysis of its weaknesses and dilemmas for the global-local economic society, and ecological responsibility.


Because, the concepts of specialization and coordination, creates vast problems for social, political, institutional, economic, and environmental justice simultaneously: can we manage to produce, coordinate, and redistribute commodities, advanced technology, and resources more fairly? And, without compromising the power of geographical differences, human and environmental limits, and at the same time fight for more social and economic equality. Is it doable within the limitations of the free market's need for efficient specialization? Can this, be understood within the concept of division of labor, and within the concept of coordination of commodities, advanced technology, people, and resources in free trade, driven by comparative advantages? These are questions open for discussion, however, due to the limited space of this brief essay, the author will focus on free trade and comparative advantages. Furthermore, also up for discussion: can the concept of the invisible hand manage such outspoken and profound market failures, and deficiencies; mentioned in this brief essay? 





The Third Root: the Intimate Relationship between Free Trade, and Comparative Advantages, in Ricardo's Model




The Fourth Root: Malthus - the Principle of Population, and the Malthusian Trap


By arguing for three premises, Malthus took on his position as a public figure in the middle of the population growth controversy. He argued: (1) "that population cannot increase without the means of subsistence"; (2) "that population invariably increases when the means of subsistence is available"; and (3) "that the superior power of population cannot be checked without producing misery and vice" (Malthus 1798; in Winch 2013b, p. 20). In Malthus's own words (1798b):


"the power of population being a power of a superior order, the increase of the human species can only be kept commensurate to the increase of the means of subsistence by the constant operation of the strong law of the necessity acting as a check upon the greater power." (Malthus 1798b, p. 18).


I find that this quote from Malthus (1798b), is the key to understand his hypothesis, or the principle of population. It is the so-called Malthusian Trap. In short, a gap between the population growth and subsistence emerged, in which productivity could no longer support the unchecked population growth: that's the trap (Winch 2013b, p. 21-22). To be clear: Malthus core principle of population, says that in order to support humanity, in an ideal world, the subsistence has to grow as fast as the population growth in order to support mankind. But, Malthus (1798b) argued that this was evidently not the case. Agriculture ability to provide for subsistence, because of limited land supply, lagged behind what was needed to support population growth. If his prophecy was right, humanity would use up the resources that it needed, in order to support the future of the majority of people (Fishwick et al. 2010g, p. 75). His claims are as following: Malthus (1798b, p. 18) stressed that if population goes unchecked, it would increase in a geometrical ratio (linear growth), but humanity's needs to survive (subsistence or productivity) would increase in an arithmetical ratio (exponential growth). While a geometrical ratio for linear growth is e.g. "1, 2, 3, 4, 5, 6, 7, 8, 9, 10, etc."  an arithmetical ratio for exponential growth is e.g. "1, 2, 4, 8, 16, 32, 64, 128, 256, 512, etc." (Malthus 1798b, p. 17-18). But, when Malthus wrote his essay on the principle of population, he used the United States of America (USA) as a base for his calculations. Hence, Malthus (1798b) assumed that population would only double itself every twenty-five years, which was shown in the previous and available data on the USA, at his time (Malthus 1798b, p. 16). His hypothesis: that subsistence or productivity does not support mankind, is groundbreaking, and still, or even more alarming currently. Clarifying such a problematic and immense societal trend, that early in the stage of macroeconomics, is an achievement. However, the quest of creating a principle for population growth, which was supposed to be "a universal one capable of explaining past, present, and future condition of mankind wherever it was to be found" proved to be far too ambitious (Winch 2013c, p. 4). And, his assumptions that population growth could be calculated at a geometrical ratio was, however, somewhat false. By the data he had, he could not predict the future scenario of human population growth, other than up to his arrival. Something happened with the world's population growth that he could not foresee: he did not predict the future outcome of population trends after his lifetime. Because, according to The World Counts (2021):


"Around 1804, the world population reached 1 billion people. In 1927, the 2 billion mark was made. And then, the world population really took off. In the following 84 years, the world population grew by 5 billion people reaching 7 billion in 2011. And the growth continues. By 2023, world population reaches 8 billion people. Around 2037 it could hit 9 billion and by 2056 a massive 10 billion people." (The World Counts 2021).


This means that the world is growing by 200.000 thousands of human beings each day, which contributes to a long-term S-curve of population growth, rather than at a linear growth rate as Malthus assumed (Malthus 1798b, The World Counts 2021). And, this growth in population was not expected by Malthus (1798b). He did not take such a scenario into his accounts. However, was the situation even graver than Malthus (1798b) would anticipate in his calculations? According to data the earth's capability of providing us subsistence to survive, is being critically tested when it comes to distribution of e.g. food and clean water for everyone, and to support other vital aspects of living. How we deal with this urgent issue, is a matter of life and death for people who experience being exposed or being part of a humanitarian crisis. In 2001-2019 , there were 20.45 million refugees, 43.5 million internally displaced people, and 4.15 million of asylum seekers (?) (Statista 2019).


Nevertheless, was Malthus' prophecy far too pessimistic about the future? Even though we have seen a steep growth in population in the world, productivity has not necessarily been falling according to Krugman and Wells (2018e). Malthus core argument in the principle of population was that the pressure of rising population would cause the majority of people to live on the brink of starvation (Malthus 1798; in Krugman and Wells 2018e, p. 678). Malthus claimed that technological improvements would only cause temporarily improvements in productivity, before increase in death rates, and decrease in birth rates, darkened the already grave sceenery, and hit the exponential growth curve (Malthus 1798; in Krugmen and Wells 2018e, p. 678). However, his prophecy on the future of productivity, might have been too pessimistic in its prediction (Krugmen and Wells 2018e, p. 677). Nonetheless, while Malthus's predictions of the future was too pessimistic, his views on the past was right. Up until then, population growth had limited living standards for the majority of the people (Krugmen and Wells 2018e, p. 690). It was, thus, the bounded land supply that limited real income per capita, prior to the time of Malthus according to Krugman and Wells (2018e, p. 690). However, let us try to wrap this up on a positive endnote. Because, as Krugman and Wells (2018e) concludes, on the future:


"[I]n the time since Malthus wrote his book, any negative effects on productivity from population growth have been far outweighed by other, positive factors - advances in technology, increases in human and physical capital, and the opening up of enormous amounts of cultivable land in the New World." (Krugman and Wells 2018e, p. 678). 


The future scenery looks far more optimistic, according to Krugman and Wells' endnote (2018e), or should we cautiously keep some of that Malthusian pessimism, in mind? So, the question is really: has Malthus (1798b); with his historical data been too pessimistic, or is Krugman and Wells (2018e); with their up to date data, too optimistic? Or, is there perhaps a middle way? Limited land supply is not the case or challenge of our current global society, or is it? Meadows (et al. 1972) argues that there are limits to growth environmentally. Krugman and Wells (2018e) argues that new supply of land in the New World would add more cultivable land. However, this also implies displacing environmental problems to these countries, caused by e.g. agriculture of their land, that e.g. again may cause deforestation or other environmental issues. Productivity needed for rapidly increasing population growth, does not come without costs for the majority of people's environments, and livelihoods in need of the grace and generosity of nature. The question to contemplate uncomfortably on or optimistically on, is therefore: should we aim at more productivity and continuous population growth? Or, should we aim at or less productivity for the sake of the environment, and the majority of the existing population, and future restrictions on population growth? Or, should we simply take the liftoff into outer space, into an exploration of the universe? However, back on earth: can we look upon 'economic growth' as something more than mere increased efficiency and productivity? Since there are, also, limits to the free market's ability to efficiently redistribute the gains of productivity fairly, we might need to start thinking differently about growth, and the distribution of the means of productivity (Jakobsen 2019f). Is it time to reconsider the principle of population, and the Malthusian Trap? In short, Malthus discussed productivity's limited ways to favor the distribution of future resources, to support human population economic growth on the earth - a negative endnote. However, by the prospects of Pinker (2011) the future continues to look brighter for humanity: we are improving our inherent human capacities, this is e.g. shown in the decline of violence upon or within the human population, across time and geography (Pinker 2011).


Of course, it is important to note that "[i]n dealing with Malthus's reputation as a political economist it is important to recognize that he was addressing himself to a number of controversial questions in a historical context which gave them a special point." (Winch 2013c, p. 9). The French Revolution, was followed by rapid breakthroughs in human conditions, which was a result of a reformation of its political institutions. In Great Britain economic prosperity and agricultural expansion dominated the scenery (Winch 2013d, p. 9). These historical events, among many others incidents, made Malthus's (1798a and b) theories particularly controversial. Questions arose: was he pro nature, but against culture (humanity)? Or, was he a Newtonian, rather than a Social Darwinist? These kinds of questions regarding his reputation as a human being, were questions Malthus had to face in his contemporary society: Malthus's stance on the Malthusian Trap was surely 'against the grain' (Huysmans 1931, Winch 2013a, p. 104). The public pressure he was under, among his fellow craftsmen, can hardly be conceived. That said, let us bring together Malthus thoughts on how the future improvements of the global society, should emerge:


"population must always be kept down to the level of the means of subsistence [or productivity]; but no writer that the author recollects has inquired particularly into the means by which this level is effected [up until the author's inquiry into this matter]: and it is in the view of these means which forms, to his mind, the strongest obstacle in the way to any very great future improvement of society." (Malthus 1798a, p. 9).


Altogether, while the Malthusian theory highlighted human population growth and its challenges for future generations, Marx analyzed the human limits or human effects of a capitalist mode of production; on human beings or labors and their class struggles and power struggles, to form the the next principle of the political economy, which is thoroughly explained, and eloquently discussed in his in-depth critique of the political economy (Malthus 1798a and b, Marx 1867). For further analysis of the next principle, or root of the political economy, stay tuned: it is time to explore the Marxian logics of power struggles and class struggles dynamisms, as well as to briefly and critically, discuss the weaknesses and opportunities and dilemmas of the socialist project.




The Fifth Root: A Critique of the Socialist Project, the Logics of Class Struggles, and Power Struggles Embedded in Marx's Conceptual Theories



Group Two: A Critique of Capitalism and its Core Opponents 

Discussing the Weaknesses, Dilemmas, and Strengths of Free-market Capitalism



Group Three: Comparisons - Welfare State Systems and the Nordic Model

The Norwegian Welfare State System, its Core Principles, and Ideas: Universalism and Redistribution, Fairness, Equity, and Justice


The question whether a welfare state system consists of; a tug of war between capitalism and socialism, and political compromising, and/or changing international currents, and incongruence, is indeed an intriguing question or problem that has puzzeled me profoundly. This is a question I will return to in the alternative strategy. Indeed, I will investigate this through discussing the principles and ideas of the welfare state, in this section on the Norwegian welfare state, and the next section on the Nordic model. But, let us start this discussion on the welfare state with the most obvious question, the basics: what do we need welfare states for? Krugman and Wells argued (2018m): "the rationale for the welfare state rests in part on the social benefits of reducing poverty and inequality, it also rests in part on the benefits of reducing economic insecurity." (Krugman and Wells 2018m, p. 512). We simply need a welfare state because, as human beings; luck or misfortune, can hit us all. However, to tell the story of economic inequality, economic insecurity and poverty, and how to reduce these unfavorable societal components or its dehumanizing effects, the author will try to explain this challenge form a Norwegian perspective, with all its grandeur, and misery: what is the price for a well-functioning welfare state? However, to start this analysis of the welfare states, it is important to clarify what a welfare state is. In this emerging curiosity, we should turn our attention to Krugman and Wells, for a clarification, and an enlightenment (2018m):


"The term welfare state has come to refer to the collection of government programs that are designed to alleviate economic hardship. A large share of the government spending of all wealthy countries consists of government transfers payments by the government to individuals and families that provide financial aid to the poor, assitance to unemployed workers, guaranteed income for the elderly, and assistance in paying medical bills for those with larger health care expenses." (Krugman and Wells 2018m, p. 506).


These are the inherent characteristics of a welfare state. To adress the three core questions of the opening to this brief section on the welfare states, however, the author will try to decipher the logics of the welfare state; its principles and ideas. As Ellingsæter (et al 2020a, p. 21) explains, there are three models of western welfare states: the social democratic, the liberal, and the conservative. In the social democratic welfare state the state is the core welfare institution, in the liberal, the market is more in charge, and in the conservative, the family is the governing welfare institution. This brief section on the welfare state will elaborate on the social democratic welfare state, a Scandinavian approach. The author will, therefore, take a swift look at the Norwegian welfare state, while adressing the political and economic matters of the welfare state (the political economy). While the Northern European countries are so-called coordinated market economies (more state and less market), countries such as UK and USA, are more liberal marked economies (more market and less state). In other words, more state means more socialism, and more market means more free-market capitalism. Because of this there are different balances between free market capitalism, its type of welfare benefits and services, and socialism in these countries.


Furthermore, the Nordic countries have a stronger state, as well as stronger and more active citizens, in order to achieve a favorable, and most needed balance. However, in 2020, USA scored 87% on voter turnout, Sweden 82%, Denmark 80%, Norway 78%, compared to 69% in the UK, and 67% in Finland (World Population Review 2021). But, 2020 has been a special year, a year of great upheaval and vast turmoil. This has engaged voters, particularly in the US. Nevertheless, all the welfare states have among the highest scores on voter turnout in the world. Citizens in these countries seems to be enthusiastic about their welfare states, it provokes debates, it is questioned, and it receives support. Because, there is something special about a well nurtured welfare state, in which its politically active citizens are particularly excited about: it supports the ideas of fairness, equity, and justice. That is not bad, or? According to Rawls (1971), most people behind a veil of ignorance would "do unto others as you would have them to do unto you if you were in their place" (Rawls 1971; in Krugman and Wells 2018m, p. 507). Hence, the argument support the ideas of justice, equity, and fairness of the welfare states: we rightfully care about each other, thus we also rightfully care about ourselves, and vice versa. Nozick (1974) however argued against Rawls (1971): "justice is a matter of rights, not results, and that the government has no right to force people with high incomes to support others with lower incomes" (Nozick 1974; in Krugman and Wells 2018m, p. 507). Does these kinds of arguments foster egoism or justice, fairness and equity, or simply knowledge based self-assurance?


From knowledge based self-assurance to a knowledge based service economy. Note this: the Norwegian welfare state contextual appearance is in a Scandinavian knowledge based service economy, in which workers are among the highest educated in the world. From 1970-1993, Norway spent the most in the world on public primary education. This is not the case in 2021, but we continue to prioritize public education, like the other Nordic countries do too (Our World in Data 2021). Knowledge in Norway and in the other Scandinavian countries is democratic, and in most cases public. Health is also a matter of great concern in the scandinavian welfare states, in which the Nordic countries continues to support their citizens well-being, and health issues that is competitive on a global level. Health services and benefits are well covered in these welfare states.


Furthermore, the Norwegian welfare state has had to adapt to changes, such as: (1) societal changes, (2) new ideological currents, (3) new professional knowledge, as well as (4) shifting group interests and experiences with established practices (Ellingsæter et al 2020b, p. 372). Additionally, these changes results in more "coordinated income settlement, cooperation between the trade union movement and strong employers' organizations, active employment policy and good vocational training." (translated from Norwegian by the author, Ellingsæter et al 2020c, p. 35). In short, a strong focus on employment and unionization. Altogether, in order to succeed, the Norwegian welfare state has had to be flexible and adjust to changing contextual, and societal inputs as a knowledge based service economy, with a strong driving force of democratic compromising, conflict handling, and consensus in the political landscape. Because of this, Norwegians are prone to adjust to changes.


"Economists Erling Barth and Kalle Moene pointed out that in Norway and the Nordic countries there was a favorable interaction between capitalist dynamics and institutions that were not controlled by the market strong organizations, coordinated wage formation, a compressed wage structure, central negotiations combined with local negotiations based on corporate productivity. The result was many winners and few losers." (translated from Norwegian by the author, Barth, Moene and Wallerstein 2003; in Ellingsæter et al 2020c, p. 35).


But, why are there so many winners in the Norwegian welfare regime? The Norwegian welfare state and its future, is more and more in the hands of the state and core Norwegian politicians. This political landscape is decided by a tug of war between three types of actors: protagonists (reformers), consenters (followers), and antagonists (opponents) (Ellingsæter et al 2020a, p. 23). Rather than being a tug of war between free-market capitalism and socialism, the making and the continuance of the Norwegian welfare state, is a tug of war between these three types of political actors. Since the Norwegian welfare state has become more decided by the state and core political actors, it makes sense to claim that the Norwegian welfare state has moved more in the direction of socialism (the state and core political actors), rather than free-market capitalism (the market and core capitalist actors). While the economic situation have favored an expansion of the Norwegian welfare state, this is not the case for other European countries, according to Ellingsæter (et al 2020c, p. 27).


While oil and gas drilling and exploration in Norway, have supported a strong state, and an expansion of the Norwegian welfare state; compared to free-market capitalism, in other European countries the economic progress has been weaker. This has put pressure on the role of the state to cut down on benefits and services (Ellingsæter et al 2020c, p. 27). However, the fruits of the massive economic growth in Norway could have been provisioned differently. In more liberal welfare states, such as USA and UK, the focus have been on more private consume and saving, rather than public services, and benefits, even though the USA and the UK are considered as rich countries. The Norwegian state and politicians have rather spread the economic resources, based on economic growth, among their citizens in more redistributive and universal ways, or simply in a more just and fair way. However, there has been a shift from welfare to workfare in the Norwegian, as well as other Nordic welfare states. In Norway this has been executed by more power to the labor market in order to provide for citizens' livelihoods. High levels of working citizens have not just created tax incomes, it is also a shield against poverty. In short, in the new welfare state the welfare state's benefits, services and institutions, are woven together with the public, and solutions on the market only functioned as a supplement (Ellingsæter et al 2020a, p. 372). Ellingsæter (et al 2020a) concludes:


"Although the welfare state until the 1960s was driven by the parties' gathering on income security and redistribution as a common goal, the new welfare state was more of a compromise, where the parties came together to unite conflicting ideas and principles market and state, autonomy and regulation, solidarity and individual responsibility." (translated from Norwegian by the author, Ellingsæter et al 2020c, p. 383).


Ellingsæter (et al 2020a, p. 21) continues to argue on the Norwegian social democratic welfare state, that it is particularly distinguished from other welfare states in its aim to seek full employment, utilize the principle of universalism, it has a wide risk covering (it covers economic insecurity), it is generous in its benefits, and it has well-developed services that are financed by taxes (Ellingsæter et al 2020a, p. 21). But, these attributes, such as universalism, also thrive in other types of welfare states, but its presence is more moderately. However, the term universalism, might need some clarification. Universalism as a principle for welfare, means that benefits and services are given to everyone in the same situation. This differs from selective benefits and services that are targeted on people that are poor, redistribution. Redistribution can be defined as "[t]he distribution of something in a different way, typically to achieve greater social equality." (Oxford, Lexico 2021). In the context of this brief paper, redistribution will be addressed as a different way to ensure that measures of social, political, institutional, environmental and economic equality, and justice are met. However, universalism is a principle that builds trust between the citizens and the state, since it is a right that is given equally to all people in the same situation. Ellingsæter (et al 2020a, p. 21) even argue that the social democratic welfare states in the Nordic countries, is often presented as the most universal, compared to other types of welfare states, such as the liberal, and the conservative. They continue to argue that the notion of welfare states as being universal, is tied to the political ideology of social democratic politics in Scandinavian countries (Ellingsæter et al 2020a, p. 21). Universialism and redistribution between rich and poor, are the cornerstones of principles of the Norwegian welfare state, and in other Nordic welfare states. More precisely the principle of universalism says that "most schemes cover all citizens, that the benefits are distributed as one right, and that everyone has equal rights." (Ellingsæter et al 2020b, p. 375). The definition of universalism, claims that universalism and redistribution in the Nordic welfare states, are relational, which also is the key to understand the next topic in this brief section on the welfare state.


Since the Norwegian welfare state is governed by the state, political actors have changed the relationship of the three governing institutions of the welfare state, such as the state (social democratic), the family (conservative), and the free market (liberal), towards a stronger state (Ellingsæter et al 2020a, p. 22). However, the new welfare state turned out to be more decided by political compromising, rather than consensus, and tighter and interwoven connections with the free market, rather than a tug of war between free-market capitalism and socialism (Ellingsæter et al 2020a, p. 374 and 380). Social regulations of the free market and union movements have contributed in limiting the power of the free market in Norway (Ellingsæter et al 275). This should strengthen the social community, solidarity, and strive to rip down existing class divisions, by enhancing social and economic class mobility (Elllingsen et al 2020a, p. 376). To ensure that resources are also just and fair, some benefits and services are added in a selective manner (Ellingsæter et al 2020a, p. 376). So that economic resources are redistributed. Altogether, these measures provides more equality and social integration into the Norwegian society, and it inspires continuously stronger environmental ambitions (Ellingsæter et al 2020a, p. 378). This makes Norway a suitable nesting place for social-ecological system changes, based on learning processes of social interaction and ecological interaction.


In sum, the keywords to a Norwegian style welfare state is: "universalism, generous benefits [and services], high levels of employment, and high levels of tax financing", as well as redistribution (translated from Norwegian by the author, Ellingssæter 2020a, p. 380). Given these above mentioned arguments it is easy to see that the welfare states is relational in three ways: (1) Its principles and ideas are relational (universalism and redistribution, as well as fairness, equity and justice), next (2) the different types of welfare institutions are relational (family, market and state), and in the Scandinavian welfare state there are (3) three types of political actors which interact (reformers, followers and opponents). This is supported by Daly and Cobb, who argued that everything is connected, also the market, the state, and the family, or political actors, and governing principles, and ideas of the welfare states (1989; in Jacobsen 2019f, p. 181). But in Scandinavia more weight has been put on the state, political actors and the governing principles and ideas, such as universalism and redistribution, and fairness, equity, and justice.


This is seen in the New Norwegian welfare state. However, the Norwegian welfare state was not a tug of war between capitalism and socialism, it was a democratic tug of war between political parties with "conflicting ideas and principles" that was in the spotlight (translated from Norwegian by the author, Ellingsæter et al 2020c, p. 383). Moreover, the most obvious challenge to create a welfare state is that it is quite expensive. But, most reliable studies of universalism and redistribution shows that rather than leaving it up to the free market, or the family, leaving it up to political compromising parties, or simply democratic decision making, has proven to be quite a success story in Norway. And, theory on the other Scandinavian welfare states has proved to us that human development, universalism and redistribution to fight poverty, social and economic inequality and economic insecurity, can take place, even though the country is not financed by an oil and gas industry. Finland, Denmark and Sweden all score in top ten of the world's most innovative countries in the last decade (Asheim and Mariussen 2010, pp. 52-56, Ceoworld Magazine 2020). However, due to oil and gas dependence, Norway fails to create innovation among the top ten countries in the world (Asheim and Mariussen 2010, pp. 52-56 and pp. 68-71). Furthermore, welfare is also a matter of political prioritizing, doing what is right for the citizens, and it is a matter of free choice: redistributing and sharing. Or, to leave it up to the free market, such as in the USA and UK; in which human development, such as equality security, economic and social mobility, becomes the injured party. Welfare states that are social democratic creates happy and more equal citizens, and lesser unemployment rates. It is important to note that all formal models and principles may not be applied on all cases or on all countries: different contexts, may need different solutions (see: universalism and eurocentrism in Brohman 1995, p. 121, and in Tvedt 2021). This is why a global/local governance system, has to be adaptive and take into account geographical unevenness, in order to function optimally. However, even though the Norwegian welfare state has been able to redistribute the resources more equally, fairly and justly, it has come at high costs for the environment. This is not unique to Norway.


While all the Scandinavian countries scores high on everything that is about human development, such as e.g. education, social progressiveness, health and happiness, they do not succeed in scoring among the countries with the lowest ecological footprints in the world. The environment will suffer the same destiny in all Nordic countries, such as Sweden, Denmark, Iceland, Norway and Finland, if not an ecological reconstruction takes place in these countries, in which we become more ecological responsible. While China, scored the highest in 2021 in ecological footprints, USA and India are also in the top three, followed by Japan and United Kingdom (World Population Review 2021). In 2021 Norway was at the 27th place of the countries in the world with too high ecological footprints, while Denmark and Finland score slightly better, Sweden in particular, score better than the three other Scandinavian countries. Norway e.g. consumes 8 tons of material stuff per person per year. In the first of August in 2021, Norway hit the year, when they had consumed their resources for a year according to Andaur, general-secretary in World Wildlife Foundation (WWF) (Andaur 2021; in TV2 Nyheter 2021). On a global scale, humanity use natural resources or natural capital 1.7 times faster than the earth is able to renew. This number is higher for Norway. Norway, therefore, consumes more resources than what is considered as ecological responsible measured by ecological footprints (Andaur 2021). What is the solution to this deeply problematic, and challenging situation?


The solution may lie in welfare states that scores high on human development, such as more equality and social progressiveness, education and health, well-being, happiness and less poverty, redistribute resources, and prevents economic insecurity that are also able to reconstruct their societies ecologically, and cut 50-60% of their emissions. This means e.g. scaling down fossil fuels and going into renewables, share and rent more, shifting to plant-based diets or reduce meat consumption, electrifying the transport sectors, restoring old buildings instead of constructing new ones, carbon pricing and carbon taxation, encouraging consumer products to be longer-lasting and repairable, expand public transportation, and improve bicycle lanes, as well as to take advantage of circularity, think smarter, use available resources in each country, region and local community, recycle plastic, and govern the commons, such as e.g. the fish stocks, in a more sustainable way, as well as to protect, and restore forests (Andauer 2021; in TV2 Nyheter 2021). These measures has to be inserted by politician, businesses, and consumers according to Andaur (2021; in TV2 Nyheter 2021). Nevertheless, Andaur (2021; in TV2 Nyheter 2021) remains positive. She hopes that when people; during the pandemy, have learned to enjoy and appreciate nature, they will learn to protect and support nature too (Andaur 2021; in TV2 Nyheter 2021)! However, to narrow dawn the scope, let's take a look at knowledge regimes in the Nordic Models.



Knowledge Regimes Embedded in the Nordic Model: Knowledge Democracies




THEORY III

STRIKING THE RIGHT KEY BALANCES

Geopolitics, Macroeconomics, and International Currents




Collaboration, and Cooperation, versus Rivalry, Competition, and Strategic Action



Democracy and Trust



State and Citizen Empowerment



Economic Growth and Ecological Responsibility



Economic Integration Vs National Sovereignty



Interdependence and Independence



Sustainability and Development



Individualism Vs Collectivism



Separation of Power and Global Unity



Monetary and Fiscal Innovations, Vs Macroeconomic Risks, and Vulnerabilities



Risk Rewards Vs Increased Equality



The Geopolitical Situation of (Two) Powerhouses: USA Vs China




THEORY IV

THE SOLUTIONS GIVEN BY ADVANCED TECHNOLOGY

Discussing the Dilemmas, Catches, and Opportunities of Advanced Technology through the Lens of Five Key Issues




Techno-Optimism Vs Eco-Pessimism



Automation, Job Insecurity, and Income Inequality



Technological Power Abuse, Exploitation and Monopoly Vs Competitive Fairness



Harari's Discussion on Surveillance and Freedom



Algorithms and the Role of Ethics, Democratic Responsibility, and Adaption



Digital Money: Private or Public?




CASE COMPARISONS

FROM OPTIMUM CURRENCY AREAS AND THE IMPOSSIBLE TRINITY TO CONSTITUTIONAL REFORMS, GREEN POINTS, CARBON PRICING, CARBON TAXATION, AND DIGITAL MONEY


A SYSTEM ANALYSIS OF THE REAL WORLD: FIVE EXISTING CASES

Cases that Serves as a Nutritious Foundation for Creating an Alternative 



Case One: USA, OCA and IT

The United States of America (USA) as an Optimum Currency Area (OCA), and the Impossible Trinity (IT) 


Case Two: Nature as a Subject in Constitutional Reforms

Environmental Friendly Reforms in Costa Rica's and New Zealand's Pioneering Constitutions


Case Three: Green Points

The Existing Systems of Green Points in London, New York, and Paris


Case Four: Carbon Pricing in the European Union (EU) and Carbon Taxation

The EU Emissions Trading System (ETS) and Carbon Taxation 



Case Five: The Bahamian Sand Dollar

Discussing Central Bank Currencies or in other words Public Currencies




THE ALTERNATIVE STRATEGY

A TRANSITION TOWARDS A DIFFERENT PLANETARY ECONOMY

A Four Folded Discussion of an (1) Adaptive and Democratic Global Governance, (2) Governing Principles and Ideas, as well as (3) Visualizations, Conceptual Theory, Construction of Theory, and a (4) System Architecture, and at last: A Green Valuta Integrated Digital Money Platform




THE ALTERNATIVE I

THE KEY CONCEPT FOR THE RISE OF AN ADAPTIVE, RESILIENT, INCLUSIVE, DIVERSE, AND DEMOCRATIC GLOBAL GOVERNANCE



Governing through Ecological Responisbility and Ecological Reconstruction, Embedded in the Nordic Model and a Global Ecological Welfare State System


To repeat a core argument form the theoretical parts: the expansion of the Norwegian welfare state comes with a price tag, and a disturbing gust from mother earth: we are thriving economically, by harming nature, and people that are hit by natural disasters! It is simply not just or fair! It does not promote environmental justice. But, how can we change this situation for the better? While the Nordic countries may learn other countries something about human development, other countries may learn the Scandinavian countries something essential, about having the lowest ecological footprint in the world (Nation Master 2012). And, we might also come to the conclusion that universalism and redistribution, does not fit all contexts (Bohrman 1995, p. 121, Tvedt 2021). We also must considering creating some new governing economic principles and models, fit for a more complex and comprehensive, ecological responsible and sustainable future, in which we figure out how changing contextual inputs, in other words: the geographical unevenness of the world, demands different solutions, a different planetary economy.


While the welfare states and the Nordic Model, are connected to theory on the political economy, such as free-market capitalism and a strong state and socialism, the key to the most favorable solution lies in the term incongruence. When we put pressure on the welfare states or "melt" it down to its basics; metaphorically like a laboratory chemistry experiment. And, reconstruct or adjust it while adding some geographical differences, and then stir it around by adding some movement, such as changed contextual inputs, geopolitical rearrangements, changed macroecionomic conditions, and new international currents, the welfare state might turn out quite differently, depending on the updated global/local geographical situations it is applied to. A meltdown in the form of an incongruence is not the same as a system collapse, it is a system transformation with a suprising, or unexpected result. This turmoil might result in an incongruence of its original form, and the creation of an ecological responsible welfare state system. Because, while we like to think that we are particularly ecologically conscious in our Scandinavian countries, theory and statistics, shows that this is evidently not the case. We need a meltdown in form of a turmoil of international currents, geographical unevenness, and geopolitical pressure, in order to make the welfare states more adaptable to change. Because, the Norwegian welfare state is not ecologically responsible, neither are the other Nordic welfare states. But, these Nordic countries can become more sustainable, and ecological responsible, in the future.


The welfare states and the Nordic Model, its politicians and citizens, needs summon up a real and genuine discourse on urgent environmental matters, and on ecological reconstruction or simply: make a reality check on their environmental status, and ecological footprints. Moreover, we have to start listen to the scientists, and their perspectives on comprehensive and complex environmental matters. To create systemic change, the state and its politician, the citizens, and our scientists, have to actively support environmentally friendly businesses and innovations, projects and technology, as well as more eco-friendly livelihoods, and healthy consumption patterns. And, Norway, have to start the transition from an oil and gas exploration and drilling dominated economy, to a more renewable, and sustainable economy nationally and globally. So, to be clear, the welfare state and the Nordic Model supports the majority of people, but it does not support nature, yet. However, national welfare states and the Nordic Model, are also influenced by what is going on in global geopolitics, macroeconomics, and international currents. The move towards sustainability, is not just a local or national task, it is also about creating governing economic principles that can shape a united fight for a better future, which may be applied to all scales (global/local). It must be more ecologically responsible and sustainable, as well as more just, and more fair. It must support equity, fairness and justice, and redistribution and universalism, as well as social and economic equality and mobility. It must prevent poverty, create more economic security for people, and just as important; it must support ecological responsibility.





THE ALTERNATIVE II

TWENTY FOUR PRINCIPLES FOR A JUST AND GREEN FUTURE 

The Principles of the Alternative, and the Democratic Rise of a More Resilient, Adaptive, Diverse, and Inclusive, as well as an Ecologically Responsible Global Society


In this second part of the alternative stated, the author puts forward twenty four principles for a planetary economy, which forms the foundation for the fourth, and next part of the alternative: the visual models, conceptual theory, and construction of theory. These twenty four principles can be understood at a system level, and without acquiring any prior knowledge of any other theoretical notions, principles, or concepts, in this essay. But, the author strongly encourages the reader, to skim through the abstract and introduction, methodology, theory and case comparisons, to make sense of it all. However, these principles suggested should be simple to grasp, and cut to the core of understanding the alternative stated. Since the author has chosen to take a qualitative research approach in her bird-eye perspective to our current economic system, it means that the author will strive to explain system changes by introducing some principles, or guidelines, which again may result in changing the rules of the game.


The twenty four governing just and green principles, must answer to the pure free-market capitalism's lack of principles that could have ensured us that resources would have been distributed and redistributed more justly, and fairly. It strives to support advanced technology, entrepreneurial businesses, and frontline science, but most of all: the majority of mankind, and nature. You will soon discover that the principles are overlapping. This is made by intent. Since the global society consists of interwoven and messy, complex and comprehensive societal areas, so must the principles mirror. The author's greatest motivation for creating these principles, is for the reader to see how the world is interconnected. Our world must, therefore, work as an optimal and orderly whole by consisting of interdependent functions. This is not something new or original, but it is worth as a reminder in our fragmented, messy, partly uncollaborated, and uncoordinated global society. It is also worth the effort to try to make sense of and remind the reader about the most relevant conditions and components of our global economic society, which was addressed in the theoretical part of this essay. Because, the alternative builds on, reimagine and reinvent, existing knowledge on the global economic society, stated in the theoretical sections.


However, it is important to note that our global society shows clear signs of lacks in adaptive governance that is sorely needed, and which could have improved collaboration in geopolitics, macroeconomics, international relations, advanced technology, entrepreneurial businesses, and frontline science profoundly. This, not just to prevent war, but also to coordinate our efforts, if a pandemy should occur again, or if an even more grave historical shock should hit us. In order to show the world's need for more interconnectedness, interdependence, collaboration, cooperation, and coordination, these principles must, most of all, cover all of the most vital aspect of our global society with relevance to this essay, without merely repeating what previous and current economic theory says. The author has to show how our current global society can start transforming itself and humanity, into a different planetary economy: our green future world. In short, by twisting the principles, new societal system changes can evolve, and an international sustainability transition (IST) can emerge. Let us get started.


The just and green governing principles moves from simplicity to more complexity, and builds upon each other. The first principle stresses the necessity of collaboration. We have to collaborate more, in order to start the process of transformation into more sustainable pathways. We have to show everyone more trust and care, reciprocity, and solidarity, as well as to extend our global consciousness, societally and environmentally. We must also start this journey by engaging in fierce and motivational, playful, intense, and challenging competitive fairness. The first principle, thereby, suggests that we must make an inquiery into collaborative-competitive dynamisms; a more balanced global society. This, in order to enter into the green future that we all want for each other, for ourselves, and nature. In return, these system changes may arise to exceed the current logics of free-market capitalism, by proving to itself to be original in more than one aspect. It might turn out to be a profound game changer for humanity, and nature, if we make it right this time! 




The First Principle: Collaborative-Competitive Dynamisms

Trust and Care, Respect and Solidarity, as well as Reciprocity to Interact with Competitive Fairness


#1: Collaboration and competition must be balanced, and embedded in trust, care, respect, solidarity, and reciprocity, to bring out the best in local communities, political institutions, entrepreneurial businesses, advanced technology, frontline science, and people at different places, through competitive fairness and collaborative innovations.



The Second Principle: Redistribution-Universalism Dynamisms

Redistribution of Resources on a Global-Local Level to Enhance Universalism


#2: Redistribution and universalism must fit different geographies, in order to create more equal and just opportunities for people at different locations (see: 'universialism and redistribution' in Ellingsæter et al. 2020).



The Third Principle: To Reinvent and Reimagine Social-Ecological Relationships

Solid, Healthy, and Dynamic Relationships that Can Be Applied to Different Geographical Scales


#3: Social-ecological relationships must be reinvented and reimagined, to fit an inclusive, adaptive, and resilient adjustment to a diverse global society, as well as to safeguard a healthy interaction with nature (see: 'relationships'  Daly and Cobb 1989; in Jakobsen 2019).



The Fourth Principle: Adaptive Governance, Transparency, and Constitutional Reforms

An Adaptive Governance that Supports Resilient, Inclusive, Reform-friendly, and Democratic Cultures


#4: Adaptive governance at different geographical scales, must enhance learning-processes and constitutional reforms that adapts to different geographies, to benefit political institutions, advanced technology, frontline science, entrepreneurial businesses, and citizens, embedded in distinctive places, supported by democratic compromising and  mutual transparency between all key participants.



The Fifth Principle: Power and Separation-Unity Dynamisms

Tugs of war, Political Compromising, and the Distribution of Power in a Democratic Global Society


#5: Power must be separated and united at the same time, to ensure that requirements of democratic compromising, autonomy, interdependence, independence, and economic integration, as well as strategic collaboration and competition, between different societal powers are met, and that power is not exploited by any part (See: 'separation of power and despotism' in Montesquieu 1748).



The Sixth Principle: Global Leadership-Citizen's Empowerment Dynamics

Social Interaction Embedded in Local-Global and Bottom-Up Learning Process Approaches


#6: Adaptive governance at different geographical scales, must enhance learning-proccesses and leadership that connects the different levels, in which citizen's empowerment have to be encouraged, and measures of ecological responsibility, must be met, in order to support democratic solutions to urgent societal, and environmental challenges.



The Seventh Principle: An Alternation between Different Growth Types 

An Alternation between Growth, Positive and Negative Regrowth, Circularity, and Degrowth


#7: Economic growth must alternate between different growth types, to ensure that mankind and nature's given capacity is not exceeded, or in other words: to make sure that productivity, frontline science, entrepreneurial businesses, and advanced technology gains both humanity, and nature.



The Eight Principle: The Antidespotic Principle

Governing Artificial Intelligences' (AI's) Networks, Data, and Computing Power (Algorithms) of Advanced Technology for Public Interests


#8: Advanced technology, such as e.g. AI's networks, data and computing power (algorithms), must be governed in a democratic, adaptive and ethical way, so that it benefits the whole of the society, and so that it ensures that public interests such as educational, and health measures are met, and that advanced technological power remains decentralized, and not concentrated on one despotic hand (see: 'separation of power and despotism' in Montesquieu 1748, 'elective despotism' in Jefferson 1785, and 'state and data' in Seres 2021).



The Ninth Principle: The Dynamics of Smith's Principles

Green Division of Labor and Spesialization, Green Saving, and Self-interest (the Invisible Hand)


#9: The local-global economic society, must utilize the gains of division of labor (specialization), green saving, and self-interest (the invisible hand) , as well as selflessness, in a way that it encourages an ecological reconstruction, distribution and redistribution of advanced technologies, entrepreneurial businesses, frontline science and resources, as well as social, political, institutional, environmental, and economic justice (see: 'division of labor (specialization), saving, and self-interest (the invisible hand)' in Smith 1776). 



The Tenth Principle: Productivity-Population Growth Dynamisms

Embedded in the Principle of Population and the Malthusian Trap


#10: Local-global governments must be cautious and ensure that population growth does not exceed our productivity abilities, and that it also does not overstep scientific, entrepreneurial, and technological boundaries, as well as human and nature's given limits (see: 'population and productivity' in Malthus 1798).




The Eleventh Principle: Social Planning and Democratic Compromising

To Support Class Mobility, More Equality, and Equity


#11: Democratic compromising and social planning, must particularly support public health issues and education, to favor class mobility, more equality, and equity.



The Twelfth Principle: Scarcity of Resources and Geographic Unevenness

Redistribution of Resources and Advanced Technologies to Create More Equal Human Opportunities


#12: Resources must be distributed and redistributed, in an efficient and fair manner, because resources are scarce, and human opportunities, and advanced technologies, are unevenly scattered, and distributed geographically (see: 'scarcity of resources' in Krugman and Wells 2018).



The Thirteenth Principle: Sustainability and Governing the Commons

Making Sure that Nature Recovers, and that its Benefits are Rightfully Share


#13: The commons must be governed in a manner that safeguards our eco-systems and climate, in a way that benefits existing and future generations, as well as nature, and economic livelihoods, and activities (see: 'sustainability' in the Brundtland Comission 1987, and 'governing the commons' in Ostrom 1990).



The Fourteenth Principle: Risk Rewards for the Global Society

Risks Rewards for Humanity, the Environment, and Advanced Technology, Frontline Science, and Entrepreneurial Businesses


#14: Risks taken must be rewarded if it benefits the environment, create jobs, and if it it serves the creation of cutting edge technology, entrepreneurial inventions and innovations, as well as frontline science, which must strive to gain the global society, nature and humanity, as one interconnected whole.



The Fifteenth Principle: Ecologically Responsible Pricing and Taxation Vs Ecologically Reconstructive Incentives, Policies, and Subsidiaries

Environmentally Hostile Vs Environmentally Friendly 


#15: Pollutive and ecologically destructive industries, corporations, businesses  and enterprises that damages the eco-systems and/or the climate, must be taxed and priced, and entrepreneurial businesses and industries, corporations, and enterprises, advanced technology and frontline science that creates jobs, and supports the environment, must be subsidized, and supported by governmental incentives, and policies, which must, altogether, be embedded in social, economic, environmental, institutional, and political justice.



The Sixteenth Principle: Green Comparative Advantages and Environmentally Responsible Free Trade

The Free Market, Free Trade, and Comparative Advantages, in an Ecological Responsible Global Society


#16: Free trade and comparative advantages must work for and benefit the environment at different geographies, as well as social, technological, institutional, economic, and political equity, in order to support ecological responsibility, and humanity, and the free market must accommodate a gradual, but fast transition towards an ecologically reconstructed global society (see: 'comparative advantages and free trade' in Ricarado 1817).



The Seventeenth Principle: Policies, Subsidiaries, and Incentives Built on Behavioral Economics

To Create Trust that Builds on Behavioral Economics, which Creates Societal and Environmental Consciousness


#17: Policies, subsidiaries, and incentives must be based on behavioral economics, and extend our societal and environmental consciousness, it must be synergetic and have reciprocity in mind, build trust relationships, and secure that the measures of justice, fairness, and equity moves towards, and are embedded in common goals for the global-local society, such as solidarity (see: 'behavioral economics' in Kahneman 2011).



The Eighteenth Principle: Cultural Learning that Creates Urgent Awareness

Cultural Activities for Knowledge and Learning about the Environment, and Equity


#18: Cultural activities that promotes a knowledge based information on the environment, ecological responsiblity, and ecological reconstruction, as well as equity, must be initiated by governments globally and locally, media, and cultural institutions, through cultural learning about urgent issues of the global society, humanity, and nature.



The Nineteenth Principle: Green Class Mobility and Unionization

To Strengthen the Position of Workers in a Green Class Mobility System, Compared to the Current Dominant Position of Employers


#19: National and international governments must encourage workers to unite, in order to strengthen their position in the labor market, which also must enhance equity, secure fair payment, fight job insecurity, as well as it must ensure that the workers' human rights are covered, and not violated or exploited economically by their employers, this, in order to support the rise of a green class mobility system (see: 'classes' Marx 1867).



The Twentieth Principle: Green OCA and IT Areas Supported by a Green Valuta System

Mapping, Accounting, and Rewarding Regional Efforts for the Majority of People, and Nature


#20 Green OCA and IT areas must be ratified into green points, where each region is given points based on key economic, social, political, institutional, and environmental endeavors, natural resources, frontline science, entrepreneurial businesses, and advanced technology, which again may be reported, calculated, and accounted into regional green currencies, a global competitive and collaborative rating system, in which each region is rewarded for their democratic effort to support public interests, the majority of people, and nature (see: 'OCA' in Mundell 1961, and 'impossible trinity' in Mundell and Fleming 1987).



The Twenty First Principle: Green Valuta - An Integrated Digital Money Platform

A Green Digital Currency System that Adapts to different Geographical Scales


21#: A transition towards an integrated, secure and inter-operational digital money platform, which works on all geographical scales, must be eased by an orderly and regulatory adaptive governance globally; with fast, reliable, and accessible attributes; fully optimized system transactions and free monetary instruments; with personalized keys available on user-friendly mobile interfaces (wallets) or other equivalent digital interfaces that must be available to all human beings, institutions, businesses, and industries; despite differences in financial assets, or economic income (equity), which, altogether, must be embedded in trust relationships, and support the interdependent functionality, and transformation towards a possible green future, suggested in this brief essay (see: 'digital money and central bank currencies' on Facebook, IMF 2021, and 'crypto currencies' on Twitter 2021).



The Twenty Second Principle: Governing through Knowledge and Democratic Power Balances

A Strong Adaptive Governance Globally, Requires Strong Local Communities, and Knowledge, in order to Legitimize Power


#22: To govern by knowledge means to provide the best available, relevant, and coherent expert expertice, in order to build trust relationships that makes the outcome of political relationships and social-ecological interactions stronger, and healthier, because it is rooted in accurate information on the environment, societal trends, as well as key learnings of political, social, institutional, cultural, or economic character provided by objective and rational expert knowledge, this may justify or legitimize the use of power by the adaptive governance, and encourage, empower, and build healthy, and strong local communities (civic society), because a strong adaptive governance globally requires strong local communities, in order to secure a democratic power balance, in sum (see: 'knowledge regimes'  in Christensen et al. 2020, and 'nordic models' in Knutsen 2020). 



The Twenty Third Principle: No Climate Justice without Justice for Indigenous People

An Act to Protect Indigenous People's Rights, the Lungs of the Earth, Biodiversity, and Nature as a Subject


#23: Indigenous people's rights and fight for climate justice, must be protected by constitutional reforms globally, they embody only of 5% of the population in Brazil, but protects the lungs of the earth, and 80% of the planets biodiversity, because of that - there is no climate justice without an act to protect their justice and simultaneously to protect nature as a subject, justice for indigenous people globally, and climate justice, simply go hand in hand (see: 'climate justice and indigenous people' in Thunberg 2021).



The Twenty Fourth Principle: Transformation through Interdependence

Governing an Interdependent Planetary Economy towards an International Sustainability Transition (IST)


#24: The adaptive governance defined in these twenty one principles, must be interdependent functionally, its interventions and its regulations, must interfere with the green take on the free market, free competition, free trade, economic growth, private currencies, and comparative advantages, if the core principles stated in this alternative, are not met, and the measures, as well as strategies towards an IST, are not taken.








THE ALTERNATIVE III

THE SYSTEM FRAGMENTS OF A SUPERIOR VISUAL (META) SYSTEM ANALYSIS

From a Rule Changing System to Our Future Green World


The task of creating the systemic and visual models that addresses the core theoretical and visual concept of this headline and this under title, is a tricky-subject in my home, but I will, nevertheless, give it a shot: what else is there to do nowadays? The headline states that the models must have certain attributes. These are as following: (1) the models are holistic, and (2) visual, and the systems (3) simply suggests principles, expressed in the last part of the alternative. Visual models and system narratives or principles, is what we need in order to change the structures, or to (4) put pressure on the rules of the game. However, the system narratives, the conceptual theory, and the visualizations are a unity, the one cannot be understood without the other. Hence, they are (5) interdependent in order to be (6) rule changing, and cannot work separately. Which also means that the societal end ecological alternative to capitalism, have to (7) interact in a functional matter: the models, have to be coherent, logical, and strive to have (8) relevance to the core scientific question stated: how can we make our global economic system; an economy for the majority of people, and nature? Is it doable? These questions were mentioned in a heartfelt moment by the author in the action plan introduction, and have been repeated successively throughout this essay. And, I will stick to the mission of having to deal with, and answer to those perhaps unrealistic, and highly complex questions. Because, this sets the strategic target of the alternative, that will be stated in the following visual models, and conceptual theory, and constructions. These visual models and its conceptual theory, and constructions, builds on the principles stated in the privious section of the alternative. But, it must also add something new or original to the bird-eye perspective on the global soociety, in addition to reimagine and reinvent exsisting conceptual theory, notions and principles. In short, this explanation is all you have to keep in mind or question, when you gaze at the visualizations, have read the narratives, and see the constructed conceptual theory: does the whole picture make sense? Let us get started, by introducing this third part of the alternative, the seven visual models. These are as following:



The First Visual Model: A Rule Changing Global System

Constitutional Reforms to support Nature as a Subject



The Second Visual Model: An Adaptive Governance System

Local-Global Power for a Transformative Social-Ecological World



The Third Visual Model: A Green Valuta System

A Green Collaborative and Competitive Rating System



The Fourth Visual Model: From Old to Green Principles

Changing the Principles for Our Future Social-Ecological Global Economic Society



The Fifth Visual Model: A Green Class Mobility System

Class Struggles, Power Struggles, and Class Mobility for a Green World in Change



The Sixth Visual Model: From Egocentric to Ecocentric

Transforming Our Global Economic Society into a More Ecologically Responsible System



The Seventh Visual Model: An Alternation of Different Growth Types

Discussing the Flexibility of Different Growth Types for Changing Our Global Economy



The Eight Visual Model: From Behavioral Economics to Eco-Behavioral Economics

Tugs of War Between Ecological Responsible Measures and Ecological Reconstructive Strategies





THE ALTERNATIVE IV: GREEN VALUTA

THE SUPERIOR (META) SYSTEM ARCHITECTURE OF THE GREEN VALUTA INTEGRATED DIGITAL MONEY PLATFORM





The Ninth Visual Model: The System Achitecture of a Different Planetary Economy

An Interdependent and Interconnected Meta Model of a Possible Future 




The Tenth Visual Model: A Green Valuta Integrated Digital Money Platform

Discussing the Visualizations, Rules, and Premises to an Integrated Green Valuta System






CONCLUSION

ON THE ALTERNATIVE, AND ITS OBSTACLES

Reasoning on the Potentials of a Different Planetary Economy



Why Can the Alternative Created, Work as a Well-functioning Economic System, for Our Future World?



Can Free-Market Capitalism Destroy the World?







EPILOGUE

OVER THE MOON, YET, IN THE THICK OF IT

Time to Reflect, and Learn from Past Mistakes



A Rescue Plan for a World in Need: On How Economics Matters



Reality Check: Do We Need an Alternative to Capitalism? Or, Do We Need an Improvement?



What is Gained, and What is Lost?





POSTLUDE

LOOKING FORWARD TO OUR FUTURE WORLD

Synergies between the Narrative and the Visualized, in the Realm of the Possible, and Infinite




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