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02752: Re: [WDDM] Economics and Change

From: Joshua N Pritikin <jpritikin(at)pobox.com>
Date: Mon, 17 Jan 2011 05:40:01 -0800
Subject: Re: [WDDM] Economics and Change

On Mon, Jan 17, 2011 at 07:39:19PM +1030, Martin Jackson wrote:
*All Banks Should Be Like the Bank of North Dakota*

http://www.youtube.com/watch?v=r0rJWnRFUJA

*The Secret of Oz: Solutions for a Broken
Economy*<http://www.infowarsshop.com/The-Secret-Of-Oz-Solutions-For-a-Broken-Economy_p_295.html>
* – Bill Still: *

*is well worth watching.*

Debt-free money is just part of the solution.

One widely overlooked way to empower economically poor and working
people in market economy is to universalize the right to acquire capital
with the earnings of capital. This right is presently largely
concentrated, as a practical matter, in less than 5 % of the population.
The concentration of the right to acquire capital with the earnings of
capital helps to explain how people either remain poor or end up poor no
matter how hard they work or are willing to work.

Binary Economics offers a conception of economics that is foundationally
distinct from the economic theories presently employed by government,
private enterprise, charitable institutions, and individuals to
formulate and evaluate economic policy. Because it is foundationally
distinct from classical, neoclassical, Keynesian, monetarist, and
socialist economics, binary economics specifically offers a distinct
explanation for the persistence of poverty, unutilized capacity, and
suboptimal growth. First advanced by Louis Kelso, binary economics holds
that (1) labor and capital are equally fundamental or "binary" factors
of production, (2) technology makes capital much more productive than
labor, (3) the more broadly capital is acquired with the earnings of
capital the faster the economy will grow.

Most binary economists conclude that universal, individual participation
in the right to acquire capital with the earnings of capital (the binary
property right) is a necessary condition for sustainable growth,
distributive justice, and a true democracy. Binary economic analssis
reveals a voluntary market-based strategy for producing much greater and
more broadly shared abundance without redistribution. Based on objective
standards of (1) reasonable, workable assumptions, (2) internal
consistency, and (3) plausible descriptions, predictions and
prescriptions, binary economics should be taught wherever other economic
approaches to growth, sustainability, development, investment, poverty,
and economic justice are taught.

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=928752


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