The 2023 BRICS Summit Declaration is a 26 page long pdf document that can be found here. I was asked earlier on another forum what the BRICS stood for to which I provided an answer but also said let’s see what the Declaration says. Along with other things, it has this to say in its Preamble:
Promising stuff, although above my pay grade. Here in the UK the whole PPP thingy was a complete disaster for us ordinary people WRT to the results, which seemed only to serve the interests of our comprador MPs and the 'Private' P of the 3Ps. What would be the safe-guards in the BRICS mix?
Yes, Blair's PPP was a ruse to fool the public and enrich the wealthy. Look at what Russia and China are doing/using the concept and you'll see the difference is vast. And of course, their stated goal to uplift public wellbeing is followed. You'll see its presence in almost every meeting Putin has and it's a constant in Xi's rhetoric.
I would be interested in being pointed in the right direction. Curiously I was thinking about how entrepreneurism could be utilised in a socialised economic environment - specifically in the context that all production facilities would finally become cooperatives - where the investment made by an entrepreneur including an agreed profit is paid off over time using the 'surplus value' principle as the payment vehicle so that the total workforce become the owners. I would be interested in finding out how PPP is used in Russia and China.
Disclaimer: Although I consider that my understanding of economics has improved over the recent past, the above musings are just that.
Your query is understandable. I understand how it works because I've watched how its grown since Deng's "reforms" in China, exemplified by his Cat mousing adage. What was lacking was native capital as opposed to imported. Once the state built up enough native capital it could begin designing its own projects and provide loans to its budding entrepreneurs. Russia did a similar thing using its network of banks once Putin reorganized much of Russia's economic structure. Again, the key resides in the provision of capital to what are known as SMEs--small and medium sized businesses, which is some cases also include micro as in sole proprietorships. The capital is provided by a public utility--a bank--and it's repaid to the public. Taxes are generated by sales, which go to the public (government), and pay to workers also finds its way back to the public via taxes as income is used for purchases. Thus, you have a basic micro/macro economic model of monetary circulation and how it can grow--there's no difference for socialist or capitalist economies as both work in the same manner as every economy requires capital. If you haven't, I suggest reading two items at my substack (there are more at my VK) that illustrate Russia's method, August 3 and August 8, which fundamentally is People Centered Development and includes more than just capital as education, health and infrastructure all play their role in the system.
Promising stuff, although above my pay grade. Here in the UK the whole PPP thingy was a complete disaster for us ordinary people WRT to the results, which seemed only to serve the interests of our comprador MPs and the 'Private' P of the 3Ps. What would be the safe-guards in the BRICS mix?
Yes, Blair's PPP was a ruse to fool the public and enrich the wealthy. Look at what Russia and China are doing/using the concept and you'll see the difference is vast. And of course, their stated goal to uplift public wellbeing is followed. You'll see its presence in almost every meeting Putin has and it's a constant in Xi's rhetoric.
I would be interested in being pointed in the right direction. Curiously I was thinking about how entrepreneurism could be utilised in a socialised economic environment - specifically in the context that all production facilities would finally become cooperatives - where the investment made by an entrepreneur including an agreed profit is paid off over time using the 'surplus value' principle as the payment vehicle so that the total workforce become the owners. I would be interested in finding out how PPP is used in Russia and China.
Disclaimer: Although I consider that my understanding of economics has improved over the recent past, the above musings are just that.
Your query is understandable. I understand how it works because I've watched how its grown since Deng's "reforms" in China, exemplified by his Cat mousing adage. What was lacking was native capital as opposed to imported. Once the state built up enough native capital it could begin designing its own projects and provide loans to its budding entrepreneurs. Russia did a similar thing using its network of banks once Putin reorganized much of Russia's economic structure. Again, the key resides in the provision of capital to what are known as SMEs--small and medium sized businesses, which is some cases also include micro as in sole proprietorships. The capital is provided by a public utility--a bank--and it's repaid to the public. Taxes are generated by sales, which go to the public (government), and pay to workers also finds its way back to the public via taxes as income is used for purchases. Thus, you have a basic micro/macro economic model of monetary circulation and how it can grow--there's no difference for socialist or capitalist economies as both work in the same manner as every economy requires capital. If you haven't, I suggest reading two items at my substack (there are more at my VK) that illustrate Russia's method, August 3 and August 8, which fundamentally is People Centered Development and includes more than just capital as education, health and infrastructure all play their role in the system.
Cheers Karl. Will read those articles on your substack. Cannnot use VK as I have no mobile phone signal here.