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  11. We Economy: Potential Of Mutual Aid Distribution Based On Moral Responsibility And Risk Vulnerability

WE economy: Potential of mutual aid distribution based on moral responsibility and risk vulnerability

Takeshi Kato1

  • 1Hitachi Kyoto University Laboratory, Open Innovation Institute, Kyoto University, Kyoto, Japan.

Plos One
|May 16, 2024

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View abstract on PubMed

Summary
This summary is machine-generated.

A new "WE economy" model effectively reduces wealth inequality by focusing on moral responsibility and risk. This approach, simulating mutual aid, shows promise but requires fellowship to mitigate free-rider issues.

Area of Science:

  • Economics
  • Sociology
  • Complexity Science

Background:

  • Wealth inequality is a global challenge driven by capitalist economic systems.
  • Existing systems rely on power/redistribution and market exchange.
  • Philosophical concepts propose a

Purpose of the Study:

  • To propose a novel wealth distribution model addressing wealth inequality.
  • To explore the role of moral responsibility and risk vulnerability in economic systems.
  • To develop and simulate alternative economic models beyond traditional redistribution.

Main Methods:

  • Developed three economic models: joint-venture, redistribution, and

Main Results:

  • WE economies demonstrate effectiveness in reducing inequality and normalizing wealth distribution.

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  • WE economies show resilience but are susceptible to free-rider problems.
  • Joint ventures and fellowship can compensate for WE economy disadvantages.

    • Conclusions:

    • Moral responsibility and risk vulnerability are key factors in reducing inequality.
    • Complementarity between WE and joint economies offers a path towards reduced inequality.
    • Future research should integrate economic analysis and psychology for practical applications.