The late 20^th century witnessed the conceptualizations of two additional institutional actors beyond that of the National Economy. These two are known as the “Student Economy” and the “Digital Economy.” The establishment of a national educational system gave rise to the belief that young people should be educated and trained to participate in the affairs of political, economic and social life. The purpose of an educational curriculum was to give young people the tools and methods of understanding themselves, their nation and its place in the world, and how to contribute to them. It had to be compulsory to ensure that everyone within the nation knew how to read, write, and do simple mathematics.

By the latter half of the 20^th century, the concept of Student Economy became increasingly entertainable as more people underwent secondary and tertiary education. The secondary educational level built upon the knowledge gained from the primary educational level, preparing them for either the workforce or the tertiary educational level. The tertiary educational level provided specialized training and knowledge related to specific Professions that could not otherwise been done with just a secondary education.

It was also at the tertiary educational level, the university, that the Digital Economy began to be conceptualized through attempts to provide digitalized means of communications. The result of those attempts was the realization of a Digital Realm engaging in the transmission of information across computers networks. The Digital Economy later came about when it was discovered that computers could facilitate the transferring of currency between different netizens.    

Under the Work-Standard, it will become possible to entertain a Student Economy where young people contribute Arbeit and Geld as part of their educational curriculum. The educational curriculum would be split between classroom instruction and hands-on training, with special emphasis being paid to the secondary and tertiary educational levels. The purpose of the primary educational level is to ensure that children receive the required knowledge that enables to comprehend the knowledge conveyed to them at the secondary educational level, allowing them to immediately enter the workforce or continue to the tertiary educational level.

Conversely, the Digital Economy promises to provide additional sources of Arbeit and Geld through digital technologies. It will serve as the intermediate between the National Economy and Student Economy, supported by the State, and offering a secondary avenue for International Trade. The Work-Standard is capable of integrating both online and offline economic activities into a coherent whole. The significance of the Digital Economy, like the Student Economy, will be explored in greater detail later in this Treatise.    

Note that the final Entry of this Section contains a brief, yet important discussion about the World State Organization (WSO) as the proposed template of a Socialist World Order. It is the antithesis to the Liberal Capitalist conception of world order that gave rise to institutions like the UN, the IMF and World Bank, the EU/NATO, the OECD, and so on. The implications of the WSO are scattered throughout the rest of the Treatise.

Categories: Compendium

Tags: Economics, Finance, Philosophy, Politics, Psychology, Socialist Finance, Third Place, Work-Standard