... but as with the other thread about economics, what is the best model? — schopenhauer1
Well, which is the best model depends on what values you want to optimize. In the Standard [capitalist] Model that we have, profit is optimized. Optimizing profit makes sense in the capitalist system.
Society can elect other values to optimize: environmental safety; worker satisfaction; high quality products or inexpensive products; and so on. Worker satisfaction is a reason primary value to optimize, since most citizens in any given country are workers (or will be workers, or were workers). So, optimizing working conditions AND achieving adequate production to meet social needs makes sense,
There are several aspects to optimizing worker satisfaction:
1. Workers have control over their workplace, its operation, and its purpose. In this scheme, workers elect (or hire) coordinators, quality control specialists, occupational safety and health inspectors, and the like. The workers decide what kind of products to produce, what level of quality (with respect to cost), and quantity.
2. Workers decide what they need in terms of their own support and maintenance. They may not be producing for profit, but they are also not working as a voluntary hobby.
3. Most consumers are workers, and consumers need to work with factories to match production to desire (obviously, not on a one to one basis, or in picayune details). If workers need cooler clothing to wear in increasingly hot weather, and maybe with insect repellence built in, these needs can be communicated.
4. Workers and consumers together will have to form councils to determine what a reasonable standard of living is for a given area. Today, people live within the limits of a wage somebody else determines. People will have to decide for themselves what is reasonable for the amount of time they want to put into work. If they want to work less, they might have to share more goods, like sharing bicycles, tools, laundry equipment, or camping gear.
Greater independence and autonomy will, paradoxically, require more interaction and cooperation among people.
What happens to rich people in this sort of society? Well... first, their cash becomes worthless in a economy where work and consumption is connected. Their property will be socialized. a few thousand people in a country of many millions won't own everything. The rich will have to find useful work, just like everybody else, and it will literally be good for them. (The alternative will not.)