Local ownership also maximises the incomes of voters by eliminating the export of economic values. Stakeholder ownership minimises dependency, social alienation and exploitation while maximising the quality of life consistent with sustaining the environment. Most importantly, stakeholder ownership introduces a 'Third Way' for distributing national income. This new 'plumbing' creates a universal income to replace welfare. As all citizens are consumers, they would all become stakeholders and so obtain property rights to dividend income.
Dividends are the only way to distribute national income without work or welfare and taxation.
This Third Way allows the scope, size and cost of government to be substantially reduced. It also increases incentives for expanding the breadth and value of private investment to increase dividends. An 'expanded ownership' strategy provides a way to privatise the tax and welfare system. The opportunity for reducing taxes and expanding investment should be tied to expanding stakeholder ownership of investments. Foreign investment should be attracted only on the basis that local ownership is increased over time.