Our Manifesto
The manifesto of the Institute is 'The Fair Market Economy' by Mark Dixon.
The war between social fairness and capitalism can be over
The optimal economy and society are those which combine efficiency and fairness rather than forcing a choice between the two. This is a manifesto for how to deliver such a world.
It seems almost too good to be true, but such an economic philosophy is actually realisable through three policies:
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Matching the worker more efficiently with the needs of the economy to boost productivity by optimising equality of opportunity to an entirely new level of fairness. We call this the ‘Open-Minded Market’;
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Empowering the consumer to become proactive to challenge and improve business, and simultaneously be more fairly treated; where the customer becomes king in more than name and where supply satisfies demand in a real sense. We call this the ‘Consumer Power Market’;
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Releasing the regulated from burdensome regulation so they are freed up to produce more for the economy, simultaneously respecting their bandwidth for regulation and their human right not to be regulated without justification. We call this the ‘No Regulation without Justification Market’.
The platform on which the future can be built has these three legs and each of them simultaneously enhances efficiency in the economy and fairness for its participants. This win-win or cake-and-eat-it opportunity has hitherto eluded policymakers who have been fighting a tug-of-war on a linear, zero-sum spectrum between capitalism and socialism.
The three pillars of the Fair Market Economy
The Open-Minded Market
The Open-Minded Market will change the way workers and people are matched with the needs of the economy and society to boost productivity and fairness through Supermeritocracy and Super Equal Opportunity, as a result of Superficial Anonymity which allows Fundamental Judgment.
The idea is that the Old Free Market has failed to deliver on its potential because discrimination persists.
Discrimination is not only unfair but it also stands in the way of efficiency by undermining the optimal allocation of resources in the economy. The Fair Market Economy involves an active policy of reducing information on people's superficial characteristics to allow them to be judged on their true or fundamental merits. This enhances meritocracy for greater economic growth and simultaneously also makes opportunity more equal.
The Consumer Power Market
The Consumer Power Market will change the balance of power between customers and producers by completing the Fiduciary Triangle to give companies a duty of care for their customers, and by protecting whistleblowers to add teeth to that, leading to customers becoming Demanders rather than traditional consumers, to enhance customer satisfaction and respect from Superresponsiveness, and make companies more efficient.
Again, the Old Free Market has failed in its promise that competition would ensure that the customer would be king and would be properly served and protected. In fact, it relies on too much failure to be suffered, Collective Disappointment, before any change results. Meanwhile, customers are patronisingly treated like cattle and are manipulated.
Customer abuse is not only unfair but it also takes a lot of economic resources to abuse which could be redirected into useful energies and more economic growth. The Fair Market Economy's policies catalyse an Active Consumer Effect to change the balance and create a market of Demanders who force supply truly to meet demand and who police corporate abuse. The resulting corporate sector then competes in a more exacting environment for the benefit of both customers and the economy itself.
The No Regulation Without Justification Market
The 'No Regulation without Justification’ Market will change the relationship between the regulated and regulators through Regulator Regulations to enforce the use of 3D Cost-Benefit Analysis, creating a Superstreamlined state in which the regulated are freed from burden unless justified, and in which the economy is more efficient.
Yet again, the Old Free Market has failed in its promise of a 'regulation lite' environment. The increasing complexity of the world wasn't taken into account with the result that the regulated have been subjected to year-on-year Regulation Inflation without regard for their Regulation Bandwidth.
This is not only unfair but the wasted resources of citizens and companies are an opportunity cost to the economy. The Fair Market Economy's policies provide a framework to assure that every regulation is subjected to the test that it is justified on the basis of a sophisticated cost-benefit analysis. The resulting regulations can therefore be viewed as fair by the regulated and the reduced burden enhances the standard of living of the regulated through a better Freedom-Regulation Balance and the redirected energies translate into economic growth.
