7 Questions
What is the primary purpose of the Capital Ownership Account (COA)?
To enable every person to accumulate wealth and receive dividend incomes
Which of the following groups of individuals would be eligible to open a Capital Ownership Account (COA)?
All individuals, regardless of their employment status
What is the primary purpose of the Citizens Land Development Cooperative (CLDC)?
To share control and profits associated with land planning and development
What is the purpose of the Employee Stock Ownership Plan (ESOP)?
To provide low-cost credit for financing business corporations
What is the objective of the Economic Democracy Act?
To achieve full employment and widespread individual ownership of income-generating assets
What is the purpose of the Consumer or Customer Stock Ownership Plan (CSOP)?
To let customers of utilities share in the ownership, governance, and profitability of natural monopolies
What is one of the ways to reduce public sector costs?
To provide public-sector workers with an equity stake in the free enterprise system
Study Notes
Capital Ownership Account (COA)
- The primary purpose of the Capital Ownership Account (COA) is to empower individuals with ownership and control of productive capital.
Eligibility for COA
- Low- and moderate-income individuals, including welfare recipients, workers, and farmers, are eligible to open a Capital Ownership Account (COA).
Citizens Land Development Cooperative (CLDC)
- The primary purpose of the Citizens Land Development Cooperative (CLDC) is to enable citizens to acquire and develop land for productive purposes.
Employee Stock Ownership Plan (ESOP)
- The purpose of the Employee Stock Ownership Plan (ESOP) is to enable employees to own shares of their company, thereby promoting employee participation and ownership.
Economic Democracy Act
- The objective of the Economic Democracy Act is to promote economic democracy by broadening individual ownership and control of productive capital.
Consumer or Customer Stock Ownership Plan (CSOP)
- The purpose of the Consumer or Customer Stock Ownership Plan (CSOP) is to enable customers to own shares of the companies they regularly patronize.
Reducing Public Sector Costs
- One way to reduce public sector costs is to adopt programs that promote economic empowerment and broaden individual ownership of productive capital.
Take this quiz to test your knowledge on vehicles for democratizing capital ownership. Learn about the Capital Ownership Account (COA) and how it can help individuals accumulate wealth and receive dividend incomes without being taxed. Explore the concept of democratizing capital credit through local banks and its impact on society.
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