So many people are not satisfied with profit based economy and capitalism. As an alternative some people suggested the concept of Resource based Economy. Resource based Economy deserves appreciation because someone finally recognized the flaws in the profit based economy and took initiative to resolve it.
But in the Resource based economy we do not have the concept of money. It can be very difficult to achieve the proper distribution of scarce resources and commodities without the concept of money because we need some proper mechanism for distribution of scarce resources and commodities.
So do we have another alternative?
Another alternative to profit based economy and capitalism is an Earth Exchange based Economy.
Every resource has an origin. An origin is something from where the resource originates and enters into the economy. For example, the origin of the coal would be coal deposits and the coal blocks. The origin of the metal would be the metal deposits and metal blocks. The origin of the petroleum would be the petroleum deposits and petroleum blocks.
In a conventional profit based economy all the origins of the resources are owned either by the government or the profit based organizations. They sell these raw resources and the resource cost obtained by selling these resources go to the government or a profit based organizations.
But in an earth exchange based economy all the origins of the resource is considered to be owned by the citizens of the state and not the government or a profit based organization. So whenever the resources enter into the economy from its origin the resource cost would go to the citizens of the state.
We can see that every resource that is scarce has a cost in the economy. Do you think that your government or a profit based organization deserves that resource cost?
So In the earth exchange based economy the people and citizens can earn the money in two ways by the virtue of ownership of the origins of the resources and by doing their jobs.
There would be no financial insecurity because there is no obligation to get a job to earn the money. People can just do whatever they love to.
But as we will study further, the further research in the earth exchange based economy revealed that it can sustain and function properly only when people work without any monetary incentive. It is because the services compensation and resource cost compete with each other. You will need to study the full concept in detail to understand what I am saying here.
So in an earth exchange based economy is possible and sustain in a democratic setup if more than 50 percent of a people in a state want a nonprofit economy and they are willing to work without any monetary incentive.
There is no requirement of any legislation to make the concept work. It is designed for a democratic and free society to sustain without any requirement of any legislation. So people should not confuse it with socialism or communism.
In the earth exchange based economy the organizations are nonprofit organizations where people work without any monetary incentive. So in such an environment the profit based organizations are rendered uncompetitive and automatically fail to survive because a nonprofit can sell its services at much lower cost compared to a profit based organization in the earth exchange based economy.
So if 60 percent or more than 50 percent people want to have a nonprofit economy a state would automatically be converted into an economy where a profit based organization cannot survive. I cannot describe the full thing here you will need to fully understand the concept. Therefore there is no requirement of any legislation to make the concept work.
But now the question comes why would people want such an economy? Are there any benefits of living like this?
In an Earth Exchange based economy there is no obligation to get a job to earn the money. We can expect a sense of equality. People can openly share and collaborate with each other without the concept of patents and intellectual property restrictions. You can expect changes in our education because people do not work for monetary incentives so we can study whatever we like without the obligation of getting a job. The education can be flexible and people can study whatever they are interested in.
We can expect better work environment where there are no hierarchies and employees are given better treatment become employees do not work for monetary incentives. Because everybody in nonprofit economy has equal earnings everyone is middle class.
To find out more about Nonprofit economy or Nonprofit Earth Exchange based economy you can search for Earth Exchange based economy on the internet.
EDIT - People had many doubts and i realized that i needed to provide a more clear and proper explanation of the concept. Therefore i edited the entire post.