The surplus economy versus inclusive capitalism. casus: Poland

The paper addresses ways of counteracting the syndrome of a surplus economy by inclusion-oriented transformation of the socioeconomic system. It is assumed that inclusiveness has value in itself and that the inclusiveness of the socioeconomic system is a prerequisite for sustainable development. On the other hand, social exclusion and excessive inequality hinder development and contribute to economic crises and secular stagnation. A fundamental obstacle to the growth of today’s economy is the demand barrier, which remains in stark contrast to the dramatically expanding goods and services production opportunities resulting from technological advances. This inevitably leads to overproduction and its adverse consequences, such as decreased employment and investment, devastating competition, etc. To remedy this situation, it is necessary to embrace a new philosophy, or a new inclusion-oriented paradigm of shaping socioeconomic reality. In this context, inclusiveness stands for a mechanism or system that prevents wasting material resources and human capital, implying a transition from a surplus economy to economics of moderation. An inclusive socioeconomic system is focused on optimal use of the productive stock and reducing the gap between actual and potential levels of economic growth and social development. The fundamental elements of such a system include: 1. Social inclusion institutions understood as achievements of civilization (e.g., social security), oriented at enhancing and reinforcing those achievements; 2. Inclusive business aspiring to optimum knowledge absorption, innovativeness, and effective reconciliation of the employers’ and employees’ interests, as well as social interest; 3. An inclusive market characterized by optimal, socially acceptable entry and exit rules, being a guarantor of a contract culture, symmetrical rights of parties to an agreement, and consumer rights protection; 4. An inclusive state and law in which inclusion-oriented institutions are embedded and which provide a framework for curtailing the rise of abusive institutions and for preventing inequality in access to law.

These issues are presented with a focus on Poland, based on statistical analyses and a literature study.

Key words: inclusive economy, surplus economy, economics of moderation, income inequality, socioeconomic system.