Monday, April 21, 2014

A Plague on Both Your Houses, III: The American Revolutionary Party


This posting is not an endorsement of the American Revolutionary Party.  The American Revolutionary Party has a platform incorporating elements of the Just Third Way, but any other political party on earth is free to adopt any or all elements of the Just Third Way as well — and we wish they would.

Okapis are cool, but not American.
No, we mention the American Revolutionary Party only to be able to contrast the Capital Homesteading proposal adopted as a plank by the ARP with the less rational economic policies of the Elephants and the Donkeys.  The ARP doesn’t (yet) have a cool animal to use as a symbol.

What it does have is Capital Homesteading, which either of the two major parties (or both) are free to adopt as well.  Capital Homesteading is an application of the principles of the Just Third Way.

Bison are cool, too, but the Constitutional Party already snagged them.
The Just Third Way is a free market system that economically empowers all individuals and families through the democratization of money and credit for new production, with universal access to direct ownership of income-producing capital. This socio-economic paradigm offers the logical “third alternative” to the two predominant socio-economic paradigms today — capitalism and socialism/communism.

In capitalism, economic power and private ownership of capital are concentrated in a small percentage of the population (i.e., a few own). In socialism/communism, the state owns and/or controls productive capital (i.e., nobody owns). In the “Just Third Way,” widespread dispersion of capital ownership functions as the economic check against the potential for corruption and abuse, including by the government. Restoration of the full rights of property and extension of private property to every individual, serves as the basis for economic democracy, the necessary foundation for effective political democracy.

This would have been WAY cool.
The “Just Third Way” differs markedly from other versions of the “Third Way,” such as the version espoused by Bill Clinton and Tony Blair, which attempts to give moral legitimacy to the Wall Street capitalist approach to economic globalization and blends political democracy with economic plutocracy.

The Whig Party got the owl.
The new paradigm views as a virtue healthy self-interest (i.e., where individual good is directed toward, or in harmony with, the common good). It views greed and envy, on the other hand, as vices, both destructive of a moral and just society. In contrast to capitalism that institutionalizes greed, or socialism which institutionalizes envy, the “Just Third Way” institutionalizes justice.

Capital Homesteading is an analogue of the nineteenth century American programs enacted to bring about a broad distribution of the ownership of land. Capital Homesteading expands the concept to include ownership of advanced technologies, including management, marketing and distribution systems, through equity shares in enterprises capable of competing without special protections within a free and just global economy.

Is anybody using actual people?
A Capital Homestead Act would be a national economic policy based on the binary growth model, designed to lift barriers in the present financial and economic system and universalize access to the means of acquiring and possessing capital assets.  A Capital Homestead Act would allow every man, woman and child to accumulate in a tax-sheltered Capital Homestead Account, a target level of assets sufficient to generate an adequate and secure income for that person without requiring the use of existing pools of savings or reductions in current levels of consumption.

So, if you’re worried about either the Republicans’ spending cuts or the Democrats’ spending increases (or, like any sane person, put off by both of them), take a look at the American Revolutionary Party platform.  If you’re put off by third parties, consider persuading your party of choice this week to adopt something sensible in place of the failed efforts currently in place.

#30#

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