Economy of Urcea: Difference between revisions
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The impact of {{wp|Catholic social teaching}} is significant on the economy, both in its institutions and outlook. The collaborative [[Guilds (Urcea)|Urcean guild system]] is designed along Catholic principles to avoid labor conflict, and the Urcean finance system is based on the principles of [[Levantine banking and finance|Levantine finance]]. | The impact of {{wp|Catholic social teaching}} is significant on the economy, both in its institutions and outlook. The collaborative [[Guilds (Urcea)|Urcean guild system]] is designed along Catholic principles to avoid labor conflict, and the Urcean finance system is based on the principles of [[Levantine banking and finance|Levantine finance]]. | ||
Urcea's economy is divided into forty statutory industries; within these industries, every firm and their workers are federated together into [[Guilds (Urcea)|guilds]]. Unlike many other industrialized countries, much of Urcea's economic regulation takes the form of self-regulation within the guilds. The guilds, which feature equal representation between employers and labor, are responsible for setting labor conditions, minimum wage, and other related policy areas. Most guilds also pool resources in order to provide benefits of some form, reducing the burden of businesses within the guild while simultaneously providing sound retirements and, in some cases, health insurance, for its members. Urcea's guilds exercise wide authority over the economy, as they not only self-regulate but also are responsible for approving any proposed trade deals with foreign nations. The guilds are assembled with elected representatives for each guild in the [[Gildertach]], Urcea's upper legislative chamber, and in the Gildertach they have the limited authority to approve or disapprove trade laws and the ability to change the guild law, under which the guilds are governed. Because of the guild system and the nation's economic philosophy, Urcea enjoys low class antipathy and relatively low income inequality. | |||
The Urcean economy is highly integrated with that of its [[Levantine Union]] neighbors. | The Urcean economy is highly integrated with that of its [[Levantine Union]] neighbors. | ||
==Employment== | ==Employment== | ||
=== | ===Guilds and labor=== | ||
{{Main|Guilds (Urcea)}} | |||
All employers and businesses in Urcea, including the [[Government of Urcea]] itself, are arranged in a system of guilds. Guilds, sorted by industry, are the self-governing bodies of the economy which internally regulate most labor laws and workplace conditions as well as having the authority to set the minimum wage within the guild. Guilds are comprised of representatives of both business owners and labor unions, and each guild has local branches at the provincial and municipal levels which are partly responsible for appointed "vested" members who hold special decision-making authority within the guild structure. Guilds are represented in the [[Gildertach]], which is the sole body which can determine and approve laws relating to guilds and also holds power to approve certain trade deals. Adherence to the guild system is enforced by the [[Ministry_of_Commerce_(Urcea)#Office_for_Guild_and_Workforce_Affairs|Office for Guild and Workforce Affairs]]. The guild system has been cited by several studies as being a primary reason for low reported levels of class antipathy in Urcea, and several economists have suggested that the system has greatly reduced class inequality. | |||
==Budget and public finances== | ==Budget and public finances== | ||
===Debt=== | ===Debt=== | ||
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===Model Economy=== | ===Model Economy=== | ||
{{Main|Model Economy}} | {{Main|Model Economy}} | ||
===Role of the guilds=== | |||
===Degree of regulation=== | |||
[[Category: IXWB]] | [[Category: IXWB]] | ||
[[Category: Urcea]] | [[Category: Urcea]] | ||
[[Category: Economy]] | [[Category: Economy]] | ||
Revision as of 11:52, 24 May 2023
 | This article is a work-in-progress because it is incomplete and pending further input from an author. Note: The contents of this article are not considered canonical and may be inaccurate. Please comment on this article's talk page to share your input, comments and questions. |
_-_New_York_(15172940570).jpg) Kingswood, the central financial district in Urceopolis. | |
| Currency | Taler (₮) |
|---|---|
| 1 April - 31 March | |
Trade organisations | Levantine Union |
Country group | Advanced |
| Statistics | |
| Population |  1,674,278,075 (2027) |
| GDP | $87.539 trillion (nominal; 2027) |
GDP per capita | $52,285.03 (nominal; 2027) |
GDP by sector |
|
Population below poverty line | 6.8% (2030) |
| Unemployment |  3.1% (2027) |
| External | |
Main export partners | |
Main import partners | |
| Public finances | |
| AAA | |
All values, unless otherwise stated, are in US dollars. | |
The economy of Urcea is a highly developed social market economy. It is the largest in the world.
The Urcean economy experienced rapid growth in the late 20th century due to increasing economic modernization and technological innovations, allowing an average 3.1% growth rate between 1972 and 1999, after which point the economy began to slow down and "normalize" relative to potential growth in productivity. The economy has additionally seen a major growth period since the end of the War of the Northern Confederation, as the "nuclear revolution" in energy has fueled a major boom due to plentiful and cheap energy.
The impact of Catholic social teaching is significant on the economy, both in its institutions and outlook. The collaborative Urcean guild system is designed along Catholic principles to avoid labor conflict, and the Urcean finance system is based on the principles of Levantine finance.
Urcea's economy is divided into forty statutory industries; within these industries, every firm and their workers are federated together into guilds. Unlike many other industrialized countries, much of Urcea's economic regulation takes the form of self-regulation within the guilds. The guilds, which feature equal representation between employers and labor, are responsible for setting labor conditions, minimum wage, and other related policy areas. Most guilds also pool resources in order to provide benefits of some form, reducing the burden of businesses within the guild while simultaneously providing sound retirements and, in some cases, health insurance, for its members. Urcea's guilds exercise wide authority over the economy, as they not only self-regulate but also are responsible for approving any proposed trade deals with foreign nations. The guilds are assembled with elected representatives for each guild in the Gildertach, Urcea's upper legislative chamber, and in the Gildertach they have the limited authority to approve or disapprove trade laws and the ability to change the guild law, under which the guilds are governed. Because of the guild system and the nation's economic philosophy, Urcea enjoys low class antipathy and relatively low income inequality.
The Urcean economy is highly integrated with that of its Levantine Union neighbors.
Employment
Guilds and labor
All employers and businesses in Urcea, including the Government of Urcea itself, are arranged in a system of guilds. Guilds, sorted by industry, are the self-governing bodies of the economy which internally regulate most labor laws and workplace conditions as well as having the authority to set the minimum wage within the guild. Guilds are comprised of representatives of both business owners and labor unions, and each guild has local branches at the provincial and municipal levels which are partly responsible for appointed "vested" members who hold special decision-making authority within the guild structure. Guilds are represented in the Gildertach, which is the sole body which can determine and approve laws relating to guilds and also holds power to approve certain trade deals. Adherence to the guild system is enforced by the Office for Guild and Workforce Affairs. The guild system has been cited by several studies as being a primary reason for low reported levels of class antipathy in Urcea, and several economists have suggested that the system has greatly reduced class inequality.
Budget and public finances
Debt
Regulation
As a social market economy, the Urcean economy is subject to significant regulations. The primary regulator is the Ministry of Commerce on most issues, especially trade and finance. The guilds themselves, in tandem with the Ministry of Commerce, oversee labor conditions within the country.
Sectors
Agriculture
Manufacturing
Arms manufacturing
Arms manufacturing is the largest part of Urcea's manufacturing sector. It encompasses a wide variety of activities, ranging from the production of small arms to large ships for the Royal Navy as well as various aircraft. This sector also produces significant goods for the civilian economy in the form of surplus, not only small arms but shipping, vehicles, and other logistical equipment.
Tourism
Real estate
Finance
Service sector
Public sector
Energy
The energy sector in Urcea has been one of the fastest growing and most robust sectors of the economy since the beginning of the Deluge.
Others
Railways
In Urcea, all rails, switches, and any other infrastructure necessary for the provision of rail travel is publicly owned, but all cars and services are privately owned. Accordingy, railway companies play a major role in the economy. The vast majority of internal freight within Urcea is shipped by rail, making these companies significant contributors of economic activity with a large labor force.
Currency
Regional differences
The economy of Urcea is varied and cannot be understood without taking the regional differences into account.
The Valley and Ionia
Gassavelia and Transionia
Gassavelia and Transionia are the parts of Urcea that encompass most of its eastern border, and accordingly it is the part of Urcea most heavily integrated with its Levantine Union neighbors.
Southern Urcea
Northern Urcea
Canete Region
Trade
Urcea's trade relations primarily involve countries in Levantia owing to the lack of tariffs within the Levantine Union, though trade agreements between Urcea and other countries, such as Kiravia, have been growing more prevalent in the 21st century. Urcean economic interests in Crona have lead to greater trade across the Levantine Ocean, with a particular emphasis on new markets in New Harren, which serves as a hub for trade goods in the eastern hemisphere and a gateway for goods to flood back to Levantia. Urcea traditionally suffered a fairly large trade deficit mostly reliant on exporting food and other goods to Sarpedon, but with the rise of the Nysdra Sea Treaty Association and development of markets in Crona - in addition to increased trade with Caphiria - the nation has enjoyed a trade surplus fairly regularly since 2014.