subject: Can Mutualism Help Us Carve Out A Fairer Future? [print this page] The events of recent years have created a real sense of unease among the public and politicians alike. Political leaders have gone out of their way to stress a commitment to forging a new moral capitalism, each trying to claim this particular buzz phrase as their own. However, the actual substance of this moral capitalism remains somewhat vague and in the meantime, unemployment continues to rise, economies across the developed world return to recession and mainstream economists continue to advocate more of the same policies many observers say got us into this current mess in the first place.
Its important to stress, of course, that there already are a range of different models of capitalism in different countries. We might not hear a great deal about them in Britain, but capitalist countries all over the world each have their own way of doing things the economic liberalism broadly favoured by Anglosphere nations is not the dominant paradigm everywhere else, although there has been some convergence in recent decades. The German social market system, for instance, is much more tightly regulated than the British or American systems, with strong trade unions and greater concentration on manufacturing and exports as opposed to retail and services.
One particularly interesting aspect of the German model is that rather than the shareholder value system of the US and UK, German businesses are reminded of their obligations to a broader range of stakeholders. Instead of viewing the share price as the primary barometer of success, German firms have a range of duties to their employees, the communities they serve and even in some cases the national interest. Some observers in the UK have taken a particularly keen eye on how things are done in Germany in large part because the German economy has proven to be particularly robust in the face of recession elsewhere in the eurozone and it may well be that some elements of this model take root in Britain over the coming years.
However, we can learn much by simply delving into our history books and theres a homegrown model which could help to promote stability and long-term thinking, as well as providing ordinary working people with a stake in how their own working lives are run. Mutualism appears to be gaining traction among politicians and the public alike here in the UK, and the continued success of certain co-operative firms even in the teeth of a long-running economic slump perhaps points the way to a more prosperous, fairer and stable future.
