The State Microsocialist Economy
In the New Richmond Republic, all economic activity is done through the state microsocialist economy in accordance with the Hewittist line of the Blair Mountain League and federal law. The economy is centrally planned and coordinated by the Central People's Government through the Ministry of Economic Development and Fiscal Affairs, which adopts Annual Economic Plans that set policy, goals, and the budget for each economic planning period.
In the state microsocialist economy, all workers are organized into state workers' cooperatives which are founded on workplace democracy and elected management. Workers are given numerous rights and protections in the Basic Law, such as the right to unionize and strike, the right to a proportional share of the profits of their cooperative, the right to miss work in sickness, the right to ample vacation time, and many others.
Government funds are centralized in the National Development Fund - mostly comprising voluntary private donations from citizens, although plans were announced for a tax system at the November 2022 session of the Congress of People's Councils. NDF money is used to fund government projects and to provide hardship relief grants to citizens who are struggling financially, considered the first step in the development of a small-scale welfare system in the Republic.
In the state microsocialist economy, all workers are organized into state workers' cooperatives which are founded on workplace democracy and elected management. Workers are given numerous rights and protections in the Basic Law, such as the right to unionize and strike, the right to a proportional share of the profits of their cooperative, the right to miss work in sickness, the right to ample vacation time, and many others.
Government funds are centralized in the National Development Fund - mostly comprising voluntary private donations from citizens, although plans were announced for a tax system at the November 2022 session of the Congress of People's Councils. NDF money is used to fund government projects and to provide hardship relief grants to citizens who are struggling financially, considered the first step in the development of a small-scale welfare system in the Republic.