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Unconventional Consideration Manners of the Economic Crisis III

What is to be done as a solution for the crisis?

Uwe Petersen

In the beginning of 2011 Unkonventionelle Betrachtungsweisen zur Wirtschaftskrise. Von Haien, Heuschrecken und anderem Getier (Unconventional Consideration Manners of the Economic Crisis I. From Sharks, Grasshoppers and other Creatures) was published, which explained aphoristically succinct aspects of the economic crisis. At the end of August, 2011, the second volume with the subtitle Illnesses of the Economic System and Possibilities and Limits of their Healing appeared in German, which analyses the traditional measures of the economic policy and exemplarily describes the economic case history of single countries. The result of these analyses was that the conventional economic policies only cured symptoms but aggravated even the fragility of the economic system. Therefore in this book (a little modified and actualised translation of the third volume published in German in 2012) unconventional solution possibilities of the financial and economic crisis are indicated, and are backed up ethically. The treatises in this volume are clear for themselves, and at the same time give an overview about the crisis problems all together, and that’s why it seemed to be justified to translate only this volume in English.

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C. From the liberal to the social-liberal economic system

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I. Liberal economic system as a base of our standard of living and its limits Social development is based on the emancipation of the individuals from religious, social and natural dependence and their free development. The spiritual emancipation from religious restraint began with the enlightenment: from which the then modern science and technology originated, the economic one: with free trade and the social one: with the democratisation of policy. These three emancipation forms are mutually caused by themselves. Without technical progress no new products and production forms can be developed. Without trade, goods cannot be distributed rationally and without state there is no order. In estate-based society the economic behaviour of the people is still based on the community and on an order. People produce for others and expect an income befitting social standing. Profit as a motive of economic action originated in particular in trade. He who pursues trade, only looks at what profit can be made by buying and reselling goods. With trade the emotional relationship to self-made products gets lost. Hence, traders were first regarded as travelling people standing outside the society, unless the society itself was a trading nation, as for example the Hanseatic towns. Then, however, trade was also based by befitting social norms. One spoke of a “royal businessman“. The estate based society was destroyed by traders who sold new products and induced the new production and distribution methods, and thereby developed the economy. This behavior was socially justified with the propagation of the...

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