🔹 The Climate Crisis: A New Perspective

Exposing the Reality of America's Clean Energy Future...   [Washington Financial Post]( May 11 [View in browser]( [Washington Financial Post] [Divider] Our newest documentary uncovers the hidden reality of the climate crisis and the untold story of America's Secret Energy Grid, which currently contributes to over half of our nation's clean energy supply.   Understanding Economic Justice Modern economics revolves around the concept of distributing capital and labor in such a way that everyone is better off. Therefore, economic justice is rooted in the idea that an economy will be more successful if all market participants are treated fairly. As such, the goal is to create opportunities for everyone to potentially thrive and prosper, with justice working in lockstep with that concept. Pure capitalism revolves around allowing the market to decide where labor and capital are distributed. However, if pure capitalism is left without intervention, it will lead to extreme inequality and wealth disparity between the holders of capital and laborers. It goes against the concept of capitalism, which is that it should “make everyone better off.” Although there is more overall wealth, most of the wealth disproportionately ends up in the hands of the capital holders (or capitalists). In order to address the inequality that stems from pure capitalism, economic justice aims to create equal opportunities for all members of the economy. If all citizens can earn an income for themselves, they will spend more, which will stimulate the economy further. Why Economic Justice is Important Economic justice can be applied in many different forms. For example, it can be used to address wage gaps and the exploitation of workers. An example is a worker who is in a position of work in which they are not able to fully utilize their skills given their situation. For the worker, it leads to earnings that are not at the full potential capacity. For the economy, it creates inefficiency as well – there is a lack of employment in that desired skill, and there is less spending from the worker who earned less. In terms of the exploitation of workers, if pure capitalism is left without any intervention, those who hire laborers achieve an unfair amount of power over their workers. It can lead to the inhumane treatment of workers and exploitation – paying workers less than the market amount. It also results in inefficiency, as workers feel that they cannot leave their job since they need to provide for their families, but they cannot seek a job where they are paid fairly. Achieving Economic Justice Example – Progressive Taxation In order to provide all citizens with equal opportunity, most market-based economies institute some form of a progressive taxation regime. Progressive taxation is a tax system where the tax percentage that is applied to income earners increases as the earned income increases. Therefore, higher-income earners pay more taxes, while lower-income earners pay fewer taxes. It is the government’s way of addressing income inequality and redistributing wealth. The tax funds are used by the government to shoulder public services that can benefit the disadvantaged population wealthy. Such services include education, public infrastructure, public housing, social services, and welfare. Example – Minimum Wage As mentioned earlier, the exploitation of workers can occur in a purely capitalist society that is left without government intervention. In such a situation, workers may be exploited by employers since there is an imbalance of power. It can lead to inefficient outcomes of the economy since the workers are paid less than the market rate. The employers will hoard the wealth, while there is less spending from the laborers. The problem can be addressed with the institution of a minimum wage, which sets a standard and requires that workers be paid a certain amount. It can allow workers to earn a sustainable amount to live off of so that they can search for jobs that meet their particular skills, thereby making the economy more efficient. Example – Diversity Inclusion Another form of economic justice is provided to those with diverse backgrounds. Racial and gender-driven disparities arise from years of systemic progression. It can be overridden by providing additional opportunities for those who come from a disadvantaged background – coming from a low-income or at-risk segment of the population. Forms of economic justice regarding diversity can include additional education, more career preparation, addressing salar [Video preview]( The documentary also examines the implications of a plan that went into effect on February 21, 2023. This plan aims to bring this transformative technology to every corner of America.   To get the full story, [click here now.]( Marx believed that the capitalist system created a class struggle that oppressed the working class, created a poor quality of life, and was an ineffective way to structure society. He believed that the tensions between the worker and the capitalist owners would create an antagonistic environment that would eventually lead to the rise of socialism and the destruction of capitalist political and social structures. His ideas are often controversial, with brutal dictators and authoritarian regimes throughout human history often citing them. Summary Karl Marx is a well-studied and well-cited economist. Marx believed that in a capitalist system, society would inevitably divide themselves into two classes: (1) the business owners and (2) the workers. He’s been a prominent voice in the debate against capitalism, writing the famous books The Communist Manifesto and Das Kapital and inspiring many communist movements around the world. Marx’s analysis centered around the social cost of giving up the value and ownership of one’s own labor to the owners. Understanding Marx’s Theories Through Behavioral Economics Marx’s theories can be interpreted through many different lenses – philosophical and historical, as well as economic. For our purposes here, we will look at how it plays in behavioral economics. Marx believed that in a capitalist system, society would inevitably divide themselves into two classes – the business owners and the workers. The workers would produce the material goods and conduct all the labor, while the owners would reap all the financial and social benefits. Marx’s analysis centered around the social cost of giving up the value and ownership of one’s own labor to the owners. He further explored what that would ultimately mean for society at large and the purpose of life for those working as the means of production in factories and other outfits. He would often explore and analyze what would drive the workers if they did not own their own labor. Behavioral economics attempts to, among other things, determine whether the economic theory of profit maximization and capitalist gains are overall indicative of what people do or want. In many ways, Marx argues against profit maximization and the capitalist economic system. He believes in many socialist ideas and principles that seek to return the benefits and fruits of labor to the individual. Marx believes that the ideal system is not one that seeks to maximize a behavioral economic system that promotes maximum profit and productivity, but rather one that empowers the worker and returns control of their lives to them. He believed that the allocation of capital created the social-economic system in which we live our lives. Also, he proposed that by allowing a massive allocation of capital that was skewered to one end of society, it could define how society is constructed, and society would end up with a negative social system and behaviors. Marx’s Influence and Going Forward Karl Marx remains a strong social voice in society today. Many believe that his style of communist socialism would greatly benefit capitalist countries. However, his ideas are greatly controversial. His critics often point out the loss of freedoms and overall oppression that can be seen in countries that adopted Marxist-style policies. Critics also point to the fact that capitalist societies are seeing a greater prosperous outcome for a larger number of people than communist countries, with their higher standard of living and greater incubation for entrepreneurship. Without the financial incentives of ownership, it can be hard to inspire individuals to take risks and develop ideas. It can stifle business growth and would generally make a communist country less competitive in the market of new goods and services than a capitalist counterpart. However controversial his ideas were, Marx remains a prominent and influential figure in today’s modern-day political and economic landscape. Additional Resources CFI offers the Commercial Banking & Credit Analyst (CBCA)™ certification program for those looking to take their careers to the next level. To keep learning and advancing your career, the following resources will be helpful: [Washington Financial Post]( This editorial email containing advertisements was sent to {EMAIL} because you subscribed to this service. To stop receiving these emails, [click unsubscribe.]( Polaris Advertising welcomes your feedback and questions. But please note: The law prohibits us from giving personalized advice. 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