Today's centralized approaches for economic activity, are being stymied by the fact an excess amount of attention is given to buttressing secondary market structures that don't necessarily serve as points of primary wealth origination. How might this problem be addressed?
It's time to include the marginalized, in the possibilities of our wealth creation processes. Governments have been historically reluctant to encourage forms of innovation with the potential to improve real wage outcomes for the marginalized. Presently, however, low end wages are insufficient to meet the societal (financial) expectations of physical community infrastructure, local building stock, ongoing maintenance needs, or organizational time based service requirements. Too many people are being arbitrarily sidelined, for outdated supply side reasons! And since non tradable sector product - given its links to time and place - doesn't increase output by the same revenue flow mechanisms as tradable sector product, real wage support via innovation in non tradable sector production emphasis, will only become more important in the years ahead. Many new initiatives will be necessary, if total factor productivity is to be regained.
In all of this, decentralized systems for non tradable sectors - whereby small wholes could become greater than the sums of their parts - could jumpstart wealth creation that goes well beyond short term stimulus. Clearly, it's no longer enough to highlight what works in terms of tradable sectors and global prosperity, since both sides of the political aisle continue to move towards protectionist policies which could ultimately destabilize long term prosperity.
Nevertheless, stronger systems for non tradable sector activity are by no means obvious, which is why productive responses thus far have been few and far in between. In the last decade there was considerable hope for charter cities for example, yet they mostly focused on additional options for those who were already well off, instead of means for the marginalized to improve their own long term economic outlook.
The main problem with centralized economies, is the fact their structure makes it more difficult - over time - for all citizens to actively take part. Too many individuals go through life with limited means by which to interact with others or even maintain a normal existence. Even though nothing about the processes involved will be easy or obvious, let's not give up on the social, intellectual and structural aspects of decentralized options, so that the marginalized might once again be included in the destines of their own nations.
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