Why Economists Reject Binary Economics, III: “Particularly ‘Productiveness’”

 One of the many things conventional mainstream economists find annoying (i.e., incomprehensible) about Binary Economics is the idea of “productiveness.”  In Binary Economics, productiveness is not a synonym for productivity.  It is, rather, an acknowledgement that there is more than one factor of production and that each makes a definable and independent (although not autonomous when the factors are combined) contribution to production.

JTW Podcast: Capital Credit Insurance and Reinsurance

Economic Democracy Act: Expanding Capital Credit and Ownership for All

 

Discover how “the Economic Democracy Act” aims to democratize access to capital ownership through reforms like capital credit insurance and reinsurance.  This video delves into how the Act would make acquiring productive capital a fundamental right, facilitated by interest-free loans and paid off through tax-deductible dividends. Key topics include the establishment of commercial loan default insurance, the role of a Capital Credit Reinsurance Corporation as a backup insurer, and the benefits of commercial portfolio insurance in protecting retirement assets. Learn how this initiative could transform economic opportunities and ensure financial security for every citizen.

News from the Network, Vol. 18, No. 30

 The news items this week reflect the same problem we noted last week: that under the current administration the term “developing story” has ceased to have any real meaning.  Chaos, both political and economic, seems to be the order of the day.  We do have to wonder when the powers that be are going to wake up and adopt the Economic Democracy Act:

Why Economists Reject Binary Economics, II: Heterodox and Non-Conventional

 As John Maynard Keynes famously declared in the conclusion of his General Theory of Employment, Interest and Money (which is not general or much of a theory, and — being obsessed with the Fabian socialist doctrine of “full employment” — has little to do with the real meaning of interest and money),

JTW Podcast: The Economic Democracy Act

 The Economic Democracy Act: Universal Path to Wealth and Economic Power In the first part of our series on the Economic Democracy Act, we delve into the economic disparities rooted in concentrated capital ownership. Historically, wealth and power were tied to land ownership, but today's wealth is generated by technology and income-producing assets. The Economic Democracy Act proposes groundbreaking national legislation to democratize ownership by providing every citizen, from birth to death, equal access to capital credit to invest in profitable, growing businesses. By breaking down barriers in the money system, this act aims to create an economically independent and powerful citizenry, reducing reliance on wages and welfare. Learn how this transformative proposal could grant you a second income and financial freedom through universal access to capital ownership.

News from the Network, Vol. 18, No. 29

 One of the ongoing problems with trying to report news items of the Just Third Way is that under the current administration the term “developing story” has ceased to have any real meaning.  Chaos, both political and economic, seems to be the order of the day.  We do have to wonder when the powers that be are going to wake up and adopt the Economic Democracy Act:

Why Economists Reject Binary Economics, I: Lack of Empirical Evidence

Just for fun the other day, we asked AI why mainstream economists reject Binary Economics, and it came up with nine reasons, some of which are not so good, and others which are terrible.  In this series we will look at the reasons and see if there are any responses, or if the reason is even valid.

JTW Podcast: Are Human Beings Angelic?

Today’s podcast is another appearance by “Great Books” philosopher Mortimer J. Adler on William F. Buckley’s Firing Line.  Again, we could summarize the video, but it’s better just to watch it yourself:

News from the Network, Vol. 18, No. 28

 We have sad news this week, the passing of one of the pioneer generation of the ESOP movement, Patricia Hetter Kelso.  As co-author with Louis Kelso, she helped present many of the ideas embodied in the Economic Democracy Act:

The Big Beautiful Boondoggle

 The trouble with even the biggest and most beautiful bill is that eventually you have to pay your bills, and the beauty of what you bought may have dimmed a bit by then.  We realize we’re committing a slight “fallacy of equivocation” by using a word meant in one sense in a different sense, but in this case it works.  We think.

JTW Podcast: Adler on Great Books, Religion, Literature and Education

Today’s podcast is another “long-lost treasure” from the legacy left by “Great Books” philosopher Mortimer J. Adler.  We would say more, but it would be better simply to watch or listen to the video:

News from the Network, Vol. 18, No. 27

The Big News this week is the Big Beautiful Bill . . . which as far as we can tell doesn’t do anything to get the Economic Democracy Act: adopted.  Other than that (and including that), here’s what’s been happening that affects the Just Third Way:

The Wedding of the Century

 Back in 1951 MGM released Royal Wedding, one of the movie musicals for which the studio was noted.  Famous for the scene that has Fred Astaire dancing on the walls and ceiling (done by having a rotating set and a fixed camera . . . with the cameraman strapped into his seat), the film — which is now in the public domain — was a riff on the marriage of then-Princess Elizabeth and Phillip Mountbatten in 1947.