now its more like your local credit union makes a joint investment into something that provides a mass return. what separates it from communism is that the returns may not be equal and in some cases there is individual agency on level of participation. the thing modern free markets have not been permitted to solve (by government interference creating central bank progressive capitalism) is how to manage fully mature industries. this is when production is so efficient that goods become so cheap you can make money selling them. this situation exists in families. its called corn flakes in the pantry. people freely take and mom just goes and buys more when they run out. its a category where dad doesnt have to set budget limits or corn flake quotas because the cost of corn flakes is minuscule next to the relatively low and regular demand. the mechanism for this is the family food budget but we have no such systems in our market environment. there has to be a mechanism for people who are not competitive in the market at current price levels to live. so older people, young people, artsy farts people. someone to do the public gardening and lawn mowing, people to sell boutique crafts or babysit. when your cloud architecture management job saves a company millions of dollars at global scale and youre paid six figures and owe > $3000 housing payments, that shouldnt mean local businesses that produce services that people want and the economy can afford shouldnt exist. its not that we cant afford inefficient labor on trivialities (we have this is called marketing and hr jobs), its that we dont have an economy that can balance price levels of different categories of the economy. the local credit union which protects your wealth and the community which honor the iou which wealth fundamentally is, needs to also fund locally valuable services.
United States