In practical terms, this is the right to acquire capital assets on credit, to pay for them with the pre-tax net earnings of the assets acquired, and then to receive the full net income from those assets. The principle of binary growth holds that as economies thus distribute capital more broadly, they will in turn grow more effectively. By eliminating what amounts to an effective monopoly on capital acquisition, the binary economy offers to eliminate the unnatural scarcity that now prevails. All individuals will be able to acquire their own capital by using the earnings of capital. Binary economists understand that the way to empower people is not to destroy, burden, or tax the private property system, but to expand it for the individual benefit of everyone.
Capital is self-financing.
It pays for itself out of its future earnings. If capital can do this for the wealthy, as it does today, it can in the future likewise buy itself for everyone else. Dismissed by some economists, heralded as a breakthrough by others, binary economics is intriguing, and this book offers a readable introduction. A colleague told me about talking with an old friend, now an anesthesiologist in New York. The friend was doubting that career choice, saying it was beginning to feel mechanical.