Some Comments on Social Credit

In China, the social credit system (SCS) is a national reputation system that rates the trustworthiness of individuals, businesses, and government entities.  The idea is to regulate social behavior and ensure compliance with laws and regulations.  The SCS assigns a score to each entity, with higher scores leading to more benefits and lower scores leading to more penalties.  High scores can lead to tax breaks, jumping the public housing queue, and easier access to credit.  Low scores can lead to denial of licenses and permits, exclusion from booking flights or high-speed train tickets, and restricted access to public services . . . all based on some bureaucrat’s idea of how good a person you are.  It’s a fun and easy way to have your life ruined.

JTW Podcast: Introduction to Philosophy and Logic

Here is an interesting take on philosophy and logic from “Professor Dave Explains.”  Logic is a tool to help us think about knowledge, while philosophy is knowledge about knowledge . . . it’s not that bad (or bad at all), as you will see from this short video:

News from the Network, Vol. 17, No. 46

 Economic and social insecurity is increasing at an increasing rate these days.  Ironically, a lot of this could probably be eliminated by the Economic Democracy Act:

Who REALLY Owns the Federal Reserve?

On paper, the Federal Reserve System, the central bank of the United States, is owned by its member banks.  Member banks are required to purchase a special form of preferred stock paying a minimal dividend but carrying a meaningless vote.  This is not, however, true ownership.  As Louis O. Kelso once pointed out, control means ownership in all codes of law, and as we will see below, the federal government, while it does have “legal title” to the Federal Reserve System, controls it by having the president of the United States appoint the Chairman of the Board of Governors, and by receiving all revenue in excess of what is expended in operations.

JTW Podcast: Four Possibilities to Prove Reality is Real

This week’s podcast deal with reality and the existence of God, a question relevant to every faith and philosophy.  Again, if there is no God, then there is no absolute standard and there are no rules to live by and no moral law to follow; anyone can do anything he wants — might makes right.  And why is that important?  Because if there are no absolutes and right is whatever the strongest says it is, then the Just Third Way is nonsense:

News from the Network, Vol. 17, No. 45

Everyone is obsessing about the results of the U.S. election this week, but life goes on (and on, and on, and on).  Regardless how it would have turned out, in our opinion the only thing that will Make America Great Again is to make AMERICANS (or any other nationalities) great again, and that means adopting the Economic Democracy Act:

Why “Binary”?

Occasionally, someone thinks he (or she) has come up with a brilliant criticism of the Just Third Way of Economic Personalism by pointing out “binary economics” is not a good way of describing the ideas of Louis O. Kelso which form the primary economic theory of the Just Third Way.  The critic takes a brief look and sees Kelso divided the factors of production into labor and capital instead of labor, land, and capital, and assumes it is the whole of Kelso’s thought, which is ultra-simplistic.

JTW Podcast: The Case for God

This week’s podcast deals with the case for the existence of God.  Why is this important?  Because as Dostoyevsky had Ivan Karamazov in The Brothers Karamazov (1880) claim, if God does not exist, then everything is permitted.  If there is no God, then there is no absolute standard and there are no rules to live by and no moral law to follow; anyone can do anything he wants — might makes right.  And why is that important?  Because if there are no absolutes and right is whatever the strongest says it is, then the Just Third Way is nonsense:

News from the Network, Vol. 17, No. 44

As the United States gets closer to the upcoming election, it becomes increasingly obvious from this week’s news items none of the candidates are looking at the economy in any realistic way.  What is a realistic way?  The program in the Economic Democracy Act: