From: mcelwre@cnsvax.uwec.edu
Newsgroups: soc.culture.usa
Subject: DEMOCRACY FOR ECONOMICS
Date: 6 Oct 92 23:12:12 GMT
Organization: University of Wisconsin Eau Claire


          

                           DEMOCRACY FOR ECONOMICS
          
               Much has been said and written about the virtues of 
          democracy.  The United States CLAIMS to have it, and has been 
          SELF-RIGHTEOUSLY trying to IMPOSE it on other countries such 
          as Grenada, Nicaragua, Panama, even Kuwait and Iraq.  Other 
          western countries also CLAIM to be democratic, and democratic 
          reforms have been sweeping the communist world. 

               But a TRUE democracy can NOT exist, in the United States 
          nor anywhere else, unless and until the PRINCIPLES of demo-
          cracy are FULLY applied TO ECONOMICS, where they COUNT the 
          most. 

               Economic democracy for the United States has three main 
          requirements, which should also be established in ALL other 
          countries. 

               First, ALL corporation$ must be REPLACED with COOPERA-
          TIVES.  Simply change the federal and state corporation laws, 
          so there is one vote per share HOLDER, rather than per share 
          of stock.  REPLACE the bank$ and $aving$ and loan a$$ocia-
          tion$ with CREDIT UNIONS in the same way, so there is one 
          vote per depositor and shareholder. 

               Second, require the ELECTION, rather than appointment, 
          of ALL financial, economic, and banking officials.  For 
          example, the person occupying the position now held by Alan 
          Greenspan should be periodically and directly ELECTED on a 
          national level.  There could even be added a 4TH BRANCH of 
          government, for "Banking and Finance". 

               Third, establish a GUARANTEED MONTHLY INCOME, just 
          enough for basic food, clothing, and shelter costs, given to 
          each and EVERY person REGARDLESS of his or her wealth, wages, 
          salary, or other earnings.  CREATE the money for this OUT OF 
          "THIN AIR" by simply having computers OFFICIALLY print out 
          and mail monthly allowance checks.  IF THERE'S A WILL, 
          THERE'S A WAY. 

               A fourth supplementary provision would be a 4-DAY (32-
          HOUR) WORK-WEEK.  This would distribute the available useful 
          work more evenly, fairly, and DEMOCRATICALLY among everyone 
          who wants it, and give most employees an extra day each week 
          for themselves and their families.  SIMPLY CHANGE THE FEDERAL 
          AND STATE OVERTIME LAWS, FROM 40 TO 32.  Reduce this by one 
          hour every year down to a 14-hour work week, as automation 
          expands, and inefficient, worthless, or harmful jobs, such as 
          in cigarette factories, and the military, are phased out and 
          eliminated. 
          
               Such applications of DEMOCRACY to economics would 
          eliminate or greatly reduce many of the problems now plaguing 
          the People of the world--starvation, malnutrition, homeless-
          ness, poverty, poverty-induced crime, unemployment, the need 
          for the legalized- EXTORTION and ARMED ROBBERY of alimony and 
          "child support", even taxation, etc., ETC.. 
          
          
               The present banking $y$tem in the United States ALREADY 
          has a complex, perhaps misleading way, of creating money out 
          of "thin air", involving the "Open Market Committee" of the 
          PRIVATELY-OWNED "Federal" Reserve System, discounting proce-
          dures, loan procedures, interest rates, etc.. 

               The problem with it is that the few powerful banker$ 
          DICTATE which people or enterprises receive this new money, 
          and what it may be used for, and then demand that it all be 
          paid back to them, PLUS interest, AS IF THIS NEW MONEY 
          BELONGED TO THE BANKER$ ALONE!  And the paper "currency" that 
          we now use is NOT even real currency, because it is not 
          redeemable in gold or silver on demand. 

               Consider the ABSURDITY of such a money system, 
          especially in a country that is SUPPOSED TO BE "free and 
          democratic"! 

               Consider also the ABSURDITY of forcing People to compete 
          against each other for a chance to "earn" the things they 
          need and should receive regardless.  Look what happens to the 
          losers of such competition and their families!  Even the 
          "winners" are SLAVES, when they have to settle for work they 
          don't really want, and are forced to submit to the WHIMS of 
          their bo$$e$.  They are also SLAVES to the extent that they 
          are UNDERPAID for their work. 
          
               Newly created money should be PERMANENTLY and democra-
          tically distributed to ALL of the People, who are much better 
          qualified than the banker$ to spend it properly. 
          
               It is high time to stop being HYPOCRITES about freedom 
          and democracy, and start fully applying these two principles 
          TO ECONOMICS where they COUNT the most. 


               UN-altered REPRODUCTION and DISSEMINATION of these 
          IMPORTANT ideas is ENCOURAGED. 


                                         Robert E. McElwaine