The new, mutual guarantee economy has several advantages. It is the only one that allows true and sustainable social justice to exist between the state and its citizens, and between states. A mutual guarantee economy will be steady, characterized by substantial voluntary diminishing of social and economic gaps, and a decline in the cost of living.
It is easy to imagine the economic and social systems at the end of the transformation that the global crisis is imposing on us. Let’s take a look at some of them.
In the mutual guarantee economy, society will adapt to the global network of connections. As a result, the financial bubbles and the endless race for speculative profits will change, leading to a healthy, balanced, and global economy that relies on global systems of trade, production, consumption, division of surplus and resources, international aid systems, and a healthier and less demanding way of life. Certainly this would be in stark contrast to the rat race we are in today.
Private consumption will return to sanity, instead of the excessive consumption that feeds on advertising and social pressure, with the sole aim to persuade us to consume redundant products and services. The mutual guarantee society will follow the principle of acting as guarantors of each other’s well-being, and the economy will derive from it. It will manifest harmony among its members in fair trade partnerships, funds and resources focusing on progress, welfare, social justice, and a fair division of resources, rather than military defense and arms.
Instead of unrestrained competition among firms and countries, mutual support for the common good will prevail.