We need candidates who will enter the presidential debate and advocate for Ownership Creation of wealth-creating, income-producing capital assets in sync with the growth of the economy. This should be the major focus and the policies necessary to reform the system to empower EVERY citizen to acquire personal ownership in productive capital assets to generate a sustainable income source to supplement their wage incomes and/or replace their wage incomes. The end result is that citizens would become empowered as owners to meet their own consumption needs and government would become more dependent on economically independent citizens, thus reversing current global trends where all citizens will eventually become dependent for their economic well-being on our only legitimate social monopoly –– the State –– and whatever elite controls the coercive powers of government. But this will not happen unless the focus is on this issue, which is the fundamental reason that economic inequality persists and will grow in our nation, with the system rigged to benefit only a tiny minority of already wealthy capital owners. What we really need in this 2016d presidential election year is a national discussion on the topic of the importance of capital ownership and how we can expand the base of private capital ownership simultaneously with the creation of new capital formation, with the aim of building long-term financial security for all Americans through accumulating a viable capital estate. We need a recognition in America that we should deliberately begin to broaden the capital ownership base in a way that is consistent with the laws of property and the Constitutional safeguards of the rights of men and women to own property and be productive. What needs to be adjusted is the opportunity to produce, not the redistribution of income after it is produced. The government should acknowledge its obligation to make productive capital ownership economically purchasable by capitalless Americans using capital credit, and, as Kelso states, “substantially assume financial responsibility for the economy through establishing and supervising the implementation of an economic, labor and business policy of democratized economic power.” Historically, capital has been the primary engine of industrialization. But as used, as Kelso has argued, has, as well, “been the chief cause of the institutional deformities that have created and maintained two incompatible classes: the overcapitalized and the undercapitalized.” We need to arrive at a new market economy structure in which on one level the employees of a corporation could walk into management and demand, in collective bargaining, the use of an ESOP—not just to trade a single block of stock for wage concessions, but to redesign the future of the company and its employees. We need, as a society, the assurance that as a corporate employer grows, it builds ownership into its employees. All of them! When people are in a position to earn the wages of their capital as well as the wages of their labor, their company is in a position to be more competitive through lower labor costs and increased technological innovation, while achieving higher employee incomes through the employee’ capital. Once this goal becomes the national political focus we will see an unbelievable discussion of workable plans to realize the goal. Remember that planning begins with a vision and a goal. This is not rocket science but it does require national leadership. Implementation requires amending a few laws that basically authorize the transactions that will broaden capital ownership paid for with the future earnings of capital investment. Allowing such transactions will provide incentives for profitable opportunities to employ unused capacity and promote stable economic growth. If Senators Bernie Sanders and Elizabeth Warren are not up to the task then who do you think is? Otherwise prepare for the continued destruction of the American dream and prosperity, opportunity, and economic justice for EVERY citizen.
Posted on: Sat, 27 Dec 2014 01:01:28 +0000
Trending Topics
Recently Viewed Topics
© 2015