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Economy of Pelaxia: Difference between revisions
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Pelaxia has a highly industrialized, developed, socialist market economy that incentives social ownership and democratic control of means of production effectively and constantly in various forms such as public, cooperative, collective ownership with the possibility of combining the three. In this sense it discourages the existence of private ownership of means of production (private property), but completely upholds and defends the right to personal property. Pelaxia mostly utilizes the market mechanism for the allocation of capital goods and other means of production although there is an edge for central or local intervention/planning. | [[Pelaxia]] has a highly industrialized, developed, [[https://en.wikipedia.org/wiki/Market_socialism|socialist market economy]] that incentives social ownership and democratic control of means of production effectively and constantly in various forms such as public, [[https://en.wikipedia.org/wiki/Worker_cooperative|cooperative]], collective ownership with the possibility of combining the three. In this sense it discourages the existence of private ownership of means of production (private productive property), but completely upholds and defends the right to [[https://en.wikipedia.org/wiki/Personal_property|personal property]]. Pelaxia mostly utilizes the [[https://en.wikipedia.org/wiki/Market_mechanism|market mechanism]] for the allocation of capital goods and other means of production although there is an edge for central or local intervention/planning. | ||
The public sector is among the largest in the world as a percentage of the overall gross domestic product. The country has a very high standard of living compared with other socialist countries, and a strongly integrated welfare system. Pelaxia's modern manufacturing and welfare system rely on a financial reserve produced by exploitation of natural resources such as oil. | The public sector is among the largest in the world as a percentage of the overall gross domestic product. The country has a very high standard of living compared with other socialist countries, and a strongly integrated welfare system. Pelaxia's modern manufacturing and welfare system rely on a financial reserve produced by exploitation of natural resources such as oil. | ||
With respect to foreign trade, the key economic sector is manufacturing, but much of Pelaxia's economic growth has been fueled by an abundance of natural resources, such as petroleum exploration and production, hydroelectric power, and fisheries. The largest industries are electronics (21.6 percent), machinery, vehicles and other engineered metal products (21.1 percent), oil industry (13.1 percent), and chemicals (10.9 percent). | With respect to foreign trade, the key economic sector is manufacturing, but much of Pelaxia's economic growth has been fueled by an abundance of natural resources, such as petroleum exploration and production, hydroelectric power, and fisheries. The largest industries are electronics (21.6 percent), machinery, vehicles and other engineered metal products (21.1 percent), oil industry (13.1 percent), and chemicals (10.9 percent). | ||
==Types of economic exploitation== | ==Types of economic exploitation== | ||
'''Public Ownership:''' refers to property interests that are vested in the state or a public body representing a community as opposed to an individual or private party. State ownership may refer to ownership and control of any asset, industry, or enterprise at any level (national, regional, local or municipal); or to non-governmental public ownership. The Pelaxian Federal government may own partially in this sense the Banking System and several means of transportation (trains, highways) among other, while municipal and provincial jurisdictions may own and distribute lands articulately, although anarcho-communism may exist in some rural municipalities. | '''Public Ownership:''' refers to property interests that are vested in the state or a public body representing a community as opposed to an individual or private party. State ownership may refer to ownership and control of any asset, industry, or enterprise at any level (national, regional, local or municipal); or to non-governmental public ownership. The Pelaxian Federal government may own partially in this sense the Banking System and several means of transportation (trains, highways) among other, while municipal and provincial jurisdictions may own and distribute lands articulately, although anarcho-communism may exist in some rural municipalities. | ||
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'''Collective Ownership:''' ownership of industrial assets or land by all members of a group for the benefit of all its members. It is distinguished from common ownership, which implies open-access, the holding of assets in common, and the negation of ownership. | '''Collective Ownership:''' ownership of industrial assets or land by all members of a group for the benefit of all its members. It is distinguished from common ownership, which implies open-access, the holding of assets in common, and the negation of ownership. | ||
==Sectors== | ==Sectors== | ||
By GDP participation, the largest sector of the economy is services at 54.2%, followed by manufacturing and refining at 33.2%. Primary production is 12.6%. | By GDP participation, the largest sector of the economy is services at 54.2%, followed by manufacturing and refining at 33.2%. Primary production is 12.6%. | ||
===Primary=== | ===Primary=== | ||
====Agriculture==== | ====Agriculture==== | ||
In Pelaxia, the large majority of farms are in western Pelaxia. Agricultural goods represent 12% of all palmerian exports. | In Pelaxia, the large majority of farms are in western Pelaxia. Agricultural goods represent 12% of all palmerian exports. During the late 1990’s, the Meireles administration implemented a set of policies that addressed food security on federal, state and municipal levels, the aim of which was to increase federal government support to [[https://en.wikipedia.org/wiki/Agricultural_cooperative|collective farms]]. These policies were deepened during the Meireles administration and consolidated after the Pelaxian Revolution in 2006. In 2007, the Secretary of Social Agrarian Development (SSAD) was created to support cooperative farms and promote land reform and sustainable land development. A host of government policies and government-supported programs in the interest of cooperative farmers then emerged, where the cooperative farm is recognized as a pillar of national development. Since then, the SSAD along with other institutions were created with the cooperative farmers and other traditional communities' interests in mind where policies targeting cooperative farmers were designed to introduce market incentives, promote adequate food distribution and provide technical assistance. The principal agricultural products of Pelaxia are cattle, coffee, cotton, corn, rice, soy, wheat, sugarcane, tobacco, beans, floriculture and fruit. | ||
====Oil==== | ====Oil==== | ||
Since the discovery of Kindred Sea oil in Pelaxian waters during the early 1990’s, exports of oil and gas have become very important elements of the economy of Pelaxia. With oil production peaking, disagreements over exploration for oil in the Kindred Sea, the prospect of exploration in the main land, as well as growing international concern over global warming, energy in Pelaxia is currently receiving close attention. This abundant amount of natural resources within Pelaxia, has given the country lucrative revenue. Crude oil and natural gas accounted for 20% of the country's total export value in 2027. As a share of GDP, the export of oil and natural gas is approximately 11%. As a means to ensure security and mitigate the fluctuations in the price of oil, the Pelaxian government funnels a portion of this export revenue into a pension fund, the | Since the discovery of [[Kindred Sea oil]] in Pelaxian waters during the early 1990’s, exports of oil and gas have become very important elements of the economy of Pelaxia. With oil production peaking, disagreements over exploration for oil in the Kindred Sea, the prospect of exploration in the main land, as well as growing international concern over global warming, energy in Pelaxia is currently receiving close attention. This abundant amount of natural resources within Pelaxia, has given the country lucrative revenue. Crude oil and natural gas accounted for 20% of the country's total export value in 2027. As a share of GDP, the export of oil and natural gas is approximately 11%. | ||
As a means to ensure security and mitigate the fluctuations in the price of oil, the Pelaxian government funnels a portion of this export revenue into a pension fund, the [[Fondo de Soberanía Nacional]]. The Pelaxian government receives these funds from their market shares within oil industries, such as their two-thirds share of [[PETROPEL]], and allocates it through their government controlled domestic economy. This combination allows the government to distribute the natural resource wealth into welfare investments for the mainland. Tying this fiscal policy to the oil market for equity concerns creates a cost-benefit economic solution towards a public access good problem in which a select few are able to reap the direct benefits of a public good. | |||
Domestically, Pelaxia has addressed the complications that occur with oil industry markets in protecting the mainland economy and government intervention in distributing its revenue to combat balance-of-payment shocks and to address energy security. | |||
====Energy==== | ====Energy==== | ||
As of 2027, the production share of fossil energy is around 35% while renewable energy is 65%. The electricity sector in Pelaxia relies predominantly on hydroelectricity from rivers and tidal movements. A significant share of the total electrical production is consumed by national industry. | As of 2027, the production share of fossil energy is around 35% while renewable energy is 65%. The electricity sector in Pelaxia relies predominantly on [[https://en.wikipedia.org/wiki/Hydroelectricity|hydroelectricity]] from rivers and tidal movements. A significant share of the total electrical production is consumed by national industry. | ||
===Secondary=== | ===Secondary=== | ||
Most large industry is concentrated in the center and coastal areas of Pelaxia. The manufacturing industry is a significant employer of about 22% of the labour force. | Most large industry is concentrated in the center and coastal areas of Pelaxia. The manufacturing industry is a significant employer of about 22% of the labour force. | ||
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The chemical industry is one of the Pelaxia's largest industrial sectors and it produces an enormous range of products for the use of other industrial sectors, especially for agriculture. In addition, its produces plastics, chemicals, paints, oil products, pharmaceuticals, environmental products, biotech products and petrochemicals. | The chemical industry is one of the Pelaxia's largest industrial sectors and it produces an enormous range of products for the use of other industrial sectors, especially for agriculture. In addition, its produces plastics, chemicals, paints, oil products, pharmaceuticals, environmental products, biotech products and petrochemicals. | ||
===Terciary=== | ===Terciary=== | ||
(WIP) | |||
==Public Sector== | ==Public Sector== | ||
As of 2028, government spending is about 55% of the Gross Domestic Product of Pelaxia. | As of 2028, government spending is about 55% of the Gross Domestic Product of Pelaxia. | ||
The roots of the socialist movement in Pelaxia were based on dangerous working conditions, exploitative labor relations policies, and the demand for collective bargaining. As socialism became part of the mainstream labor movement, it also became part of the mainstream political discourse leading up to the proliferation of a plural Marxist political rhetoric that has benefited from the general absence of charismatic leaders. The state has large ownership positions in key industrial sectors, such as the strategic petroleum sector (PETROPEL), hydroelectric energy production (PalmHydro), wind energy production(StatoVentus), and telecommunications provider (TeleMercury). As an economic environment, Pelaxia's judiciary is efficient and effective. Pelaxia is highly open to investment and free trade. Pelaxia has top levels of economic freedom in many areas, although there is a heavy tax burden and inflexible job market. | The roots of the [[https://ixwiki.com/wiki/Pelaxian_Socialism|socialist movement in Pelaxia]] were based on dangerous working conditions, exploitative labor relations policies, and the demand for collective bargaining. As socialism became part of the mainstream labor movement, it also became part of the mainstream political discourse leading up to the proliferation of a plural Marxist political rhetoric that has benefited from the general absence of charismatic leaders. The state has large ownership positions in key industrial sectors, such as the strategic petroleum sector (PETROPEL), hydroelectric energy production (PalmHydro), wind energy production(StatoVentus), and telecommunications provider (TeleMercury). As an economic environment, Pelaxia's judiciary is efficient and effective. Pelaxia is highly open to investment and free trade. Pelaxia has top levels of economic freedom in many areas, although there is a heavy tax burden and inflexible job market. | ||
===Fondo de Soberanía Nacional=== | ===Fondo de Soberanía Nacional=== | ||
The FSN was set up in 1999 to underpin long-term considerations when phasing petroleum revenues into the Pelaxian economy | The FSN was set up in 1999 to underpin long-term considerations when phasing petroleum revenues into the Pelaxian economy | ||
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===Taxation=== | ===Taxation=== | ||
(WIP) | (WIP) | ||
[[Category: | [[Category:Pelaxia]] | ||
[[Category:Economy]] | |||