Quite simply, the workers own the means of production. When you work at a business, you own x% percent of that business (and its profits). You aren't paid a wage. And my system does not tolerate shareholders, executives, or management taking large sums.
If workers get a % of profit, but no wages, how
would they survive during periods of no profit?
Businesses, especially new ones, lose money at
times....sometimes for years, eg, Amazon, Ford.
I've paid wages & contractors even when when not
profitable. I planned for it, using reserves & debt.
One must honor one's obligations.
You could weave that in with an investment system, where investors get certain rewards for the risks they took in conceiving of the business and helping it get where it is. But all that ends at a certain point. And when a firm becomes so large or successful, the investors (who might be fairly rich at that point from it) must hand full ownership over to the workers. THAT is the growth path of all organizations that depend on labor.
Consider a common scenario.....
If the company is profitable, passive investors (financiers
with no control) get a modest ROI. But if the company
is very successful, then they forfeit this income stream.
The incentive to put one's capital at risk is small. Most
new businesses fail, so their risk is high for strictly limited
returns. This disincentive for new or shaky businesses
portends a dearth of investors, & economic stagnation.
But you DON'T have ownership of a business where YOU allocate the wages of others and keep the profits for yourself. In a particular way I lean toward "syndicalism," a union owns any business.
If you alone are the only one working in a business, that would be fine. And you are also free to contract any labor you see fit. Much like in America today. And maybe with less taxes even!
Would the contract labor
not own the business?
Would they get wages or a % of profits?
Would there be a limit on the size of this business?
Structure of the government: democracy. It could be a republican system like we have now or a different kind. But the people's votes would direct government. I am not a fan of dictatorships.
I, mean, I've done a lot of thinking on the subject, but I think my post is long enough. I'm not going to list a bunch of economic laws. That would be tedious.
You just did list some economic laws.
Now that wasn't so tedious, was it, eh.
Besides, you propose upending an entire
economic system that has done very well
compared to socialism's many failures.
Such a radical proposal has risks, & those
should be addressed in detail.
In short, you owe us....
Look before you make everyone leap.
If there's any thing about economic policy you want me to give my take on, ask about that.
See above.