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The Alternative by Nick Romeo review – moral substitutes for the free market model
Key Excerpts from Article on Website of The Guardian (One of the UK's Leading Newspapers)
Posted: April 8th, 2024
https://www.theguardian.com/books/2024/jan/08/the-alternativ...
You can’t help but applaud Nick Romeo for showing the workable alternatives to capitalism and the moral driver behind them – everything from the way companies are incorporated to how employees are hired, paid and enabled to share in the value they create. There is no need for ordinary workers to be pawns in a system that makes humanity and ethics secondary to the unbending logic of the marketplace and blind, selfish capital. He takes us to the Marienthal job guarantee programme in Austria. Today the town is piloting the impact of a universal jobs guarantee for all of its out-of-work citizens. Essentially there is a job for anyone unemployed for more than 12 months – you can even have a hand in designing what it is you will do with your time when you work – and you get paid up to £2,000 a month. People opt to work rather than receive welfare benefit, and there is ample evidence it raises their self-worth while delivering a service – care to the elderly or tidier parks – that was not there before. Better still, it costs the state virtually nothing because unemployment benefit is simply transferred to the now employed worker’s pay packet. Romeo takes his reader from one inspiring example to another – from the Purpose economy programme in the US, in which firms are dedicated to delivering greater purpose in perpetuity, to examples of companies paying genuine living wages to their employees to encourage commitment. Around 7,000 B Corps, which commit in their founding constitution to put social goals before profit, now trade in more than 90 countries – there were effectively none 25 years ago.
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