Not left, not right, forward.

HUMAN-CENTERED
CAPITALISM

Policy

To update economic incentives to better reflect an emphasis on the people of America rather than the corporations of America.

This update would better align economic incentives with the needs of the people. For example, a corporation could get a tax deduction for giving people recurring days off in order for them to spend time with their families.

Corporations who invest in the long-term happiness of their employees benefits everyone and should be encouraged via tax deductions and other economic incentives.

This is: Human Centered Capitalism

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Our current emphasis on corporate profits isn’t working for the vast majority of Americans. This will only be made worse by the development of automation technology and AI.

We need to move to a new form of capitalism – Human Capitalism – that’s geared towards maximizing human well-being and fulfillment. The central tenets of Human Capitalism are:d

  • Humans are more important than money
  • The unit of a Human Capitalism economy is each person, not each dollar Markets exist to serve our common goals and values
  • The unit of a Human Capitalism economy is each person, not each dollar.
  • The focus of our economy should be to maximize human welfare. Sometimes this aligns with a purely capitalist approach, where different entities compete for the best ideas. But there are plenty of times when a capitalist system leads to suboptimal outcomes. Think of an airline refusing to honor your ticket because they can get more money from a customer who purchases last-minute, or a pharmaceutical company charging extortionate rates for a life-saving drug because the customers are desperate.

Economic Challenges

  • At present, the Market systematically tends to undervalue many things, activities, and people, many of which are core to the human experience.

“I think we’ll end up doing universal basic income . . . It’s going to be necessary . . .There will be fewer and fewer jobs that a robot cannot do better. I want to be clear. These are not things I wish will happen; these are things I think probably will happen.”

Elon Musk - February 2017

solutions

  • Make the economy work for Americans, not the other way around
  • Direct capital to investments to improve human welfare, not to enrich the wealthiest Americans
  • Create measurements around people, not dollars

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