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߷ This article is about Vekllei
Large segments of the Vekllei economy are dominated by industries of the state, as both direct ministerial privileges and state-owned enterprises. In total, they form the basis of the basic Vekllei standard of living, holding back catastrophe through reliable overproduction where gaps in the participatory economy might threaten serious shortages.
There is no real distinction in Vekllei between state assets, state-owned enterprises (SOE) and government-owned corporations (GOC), and the terms are used interchangeably. A state asset is distinct from bureau companies1 or private enterprise, and is often directed by government policy via an Interior Ministry or Parliament.
State assets make up about 40% of the Vekllei Islands GDP, and about 25% of total Commonwealth GDP. They occupy central roles in the Vekllei economy, often as functional or constitutional monopolies, and are responsible for 65% of the VKIM market capitalisation.
Most large state assets are structured as ‘petals’ around a ‘stem,’ an official analogy that describes a centralised administrative core with decentralised, semiautonomous subsidiaries. SOE units that would be departmentalised in other countries are spun off as seperate companies in Vekllei and ruthlessly pruned, operating under a directive from the State Assets Directorate to reduce operating overhead and practice ‘professional maintenance,’ a local colloquialism meaning to prevent stagnation or waste. Despite this, the vast majority of state assets in Vekllei are largely inefficient and bureaucratic, and their titanic presence in the Vekllei economy essentially produces two distinct markets in its place – the inflexible, reliable and political economy of state assets and bureaus, and the innovative, agile and volatile private market. Both markets are considered critical assets in Vekllei.
The degree to which a state asset is responsible to a Vekllei parliament is obfuscated by the unique role they serve in the country. In many cases, state assets are functionally independent of their controlling ministries or secretariats, and their relationship to the state is simply financial, with the state serving as a controlling shareholder-equivalent. In other cases, the mission and function of the asset is directly responsible to policy goals of its operator, and its business is closely linked to political concern of the Vekllei state. These statuses fluctuate with the strategic policy goals of the government in question.
Vekllei government is highly decentralised and includes several competing parliaments at the local, national and international level. Similarly, state assets and their responsibilities are highly diverse, and municipal ownership does not equate to national control. Municipalities are not (in most cases) subordinated to national government, and so municipal enterprises do not function in the same way national enterprises do.
Function & Policy #
✿ Read more: State Assets Directorate
The Vekllei economy is largely inefficient for a variety of poltical and cultural reasons, and this has resulted in an array of unique economic conditions that require different macroeconomic thinking to nations overseas. Although the Vekllei economy is functionally unmoneyed for Vekllei people, the Vekllei primary market is highly complex and involves intricate constellations of commodity markets, social factors of production, and tremendous public finance.
Rather than a direct redistribution of income and wealth, the Vekllei state uses assets to secure a basic standard of living for Vekllei people, advance industrial and commercial goals, and retain tight control over secondary and speculative markets that facilitate its liquid capital, which in turn provide mechanisms for foreign investment and trade in the country.
Vekllei does not resemble a modern consumer society, and so state assets are not geared towards consumer products. Similarly, the moneylessness of the Vekllei primary economy eliminates tremendous financial overhead that would otherwise be spent on maintaining the financial system, since these abstract relationships are usurped by direct industrial relations, company ballots, and directives given by ministerial production committees. These planned production mechanisms facilitate the reliable overproduction of essential goods that meet the needs of Vekllei population. The inflexibility of this system is supplanted by the private market of participatory labour, which produces the majority of consumer goods and products in Vekllei, if unreliably. Luxury goods are generally hyperlocalised or imported, and are scarce for most Veklei people.
✿ Note from the Editor This list is incomplete, and serves as a reference for the evolving industrial documentation of this site.
There are three broad categories of state asset in Vekllei, arranged at their level of ownership. Crown companies belong to the Crown or Commonwealth governments, and generally include unique or essential enterprises of the Vekllei state. State companies belong to national governments, including the Vekllei Islands as depicted here. Municipal companies are local and administrated by a municipality.2
Crown Companies #
Crown Companies in Vekllei
- Royal Mail of Vekllei
- World Post
- Universal Express
- Army Construction House
- Vekllei National University
State Companies #
State Companies in Vekllei
Municipal Companies #
Municipal Companies in Vekllei
The Vekllei phrase for a collection of private or state industrial firms organised into a council, with industrial policy and standards formed via company ballots. ↩︎
Municipal companies may also include large private co-operatives that engage with the municipal government, rather than strictly state-owned assets. ↩︎