Last week we mentioned that “John Smith,” a Polish journalist, thought he might be able to introduce the Just Third Way and Capital Homesteading into Poland. This is an interesting prospect, because this writer’s first published article (in a now-defunct magazine) was on the original proposal to privatize State-owned companies. Everything we predicted in the article came to pass — unfortunately.
Despite the series of bungled privatizations that benefited rich foreigners at the expense of poor Poles, there is hope: Mazurek Dąbrowskiego! The key to the whole thing is not to focus on what was done in the past. That’s over. As the accounting dictum has it, “Ignore sunk costs.” The only way to establish and maintain a just economy is to focus on the future. So, slightly edited for clarity and other reasons, here’s the first part of the letter we sent:
The possibility of presenting a plan to implement Capital Homesteading in Poland is a great opportunity. If Poland were to move on this, it would once again move into the forefront of world affairs.
Everything I say in this letter is necessarily general. It presents broad guidelines. Until and unless I have the chance to talk directly with key people who can influence public opinion or legislation, we cannot get into specifics. Once I talk to key people, I would be in a position to advise whatever team is put together to study the situation and develop a specific program.
That being said, the first step is to realize that we do not need to be bound by the mistakes of the past. Yes, Poland’s national assets were privatized in a way that benefited rich foreign investors at the expense of the people.
Many politicians and others may not believe this, but this is not a problem. The wealth that can exist is far, far greater than the wealth that does exist — and this “future wealth” can be created in ways that make every child, woman, and man in Poland a capital owner. There is, in any event, an easy way to deal with existing assets that are owned by investors outside the country. Keep in mind, however, that the ownership of existing assets is not the real problem — or opportunity. Ownership of existing assets is a minor, almost peripheral issue. The key to everything is who will own future assets.
To be continued. . . .