Economic Systems and Global Problems

The Just Third Way: Systemic Solutions to Systemic Problems

• The Just Third Way is a framework for addressing global problems such as poverty, racism, and environmental destruction
• It is based on the principles of economic democracy, where people have control over the economy and their own lives

The Current State of the Economy

• The dollar's share in global Central Bank Reserves has dropped from 70% to less than 60% in 20 years
• The current economic system is flawed, with 10% of the population owning 90% of corporate shares, leaving the majority with limited power and dignity

The Importance of Ownership

• Ownership is key to giving people power and dignity
• Lewis Kelo defined property as the power to control what you own, including the fruits or profits generated by it
• The Economic Democracy Act aims to give people ownership and control over the means of production, rather than just relying on government welfare programs

The Role of Money and Credit

• Money is not a part of the visible sector of the economy, but rather a yardstick for measuring economic input and output
• The current system allows for the concentration of power and wealth, but the Just Third Way aims to democratize access to insured capital credit and ownership

The Just Third Way Principles

• Decentralize economic power through private property and free markets
• Democratize access to insured capital credit
• Limit the economic power of the state
• Expand capital ownership to all citizens

Education and the Just Third Way

• Education is key to promoting the Just Third Way and increasing understanding of the new paradigm
• Justice University aims to teach the Just Third Way principles and promote a new way of thinking about economics and power

The Role of the Government and Taxes

• The government should not be printing money without backing, which is equivalent to counterfeiting
• The tax system should be reformed to eliminate corporate taxes and promote individual taxation
• The government should promote the Just Third Way principles and democratize access to ownership and credit

Vehicles for Change

• The ESOP (Employee Stock Ownership Plan) was invented by Lewis Kelo and aims to give workers ownership and control over the means of production

• The Just Third Way requires a shift from the wage system to an ownership system, where people have control over their lives and the economy### Changing the World with Justice University

• The key to changing the world is to have leaders who will participate in creating a more just society through the concept of Justice University.

Capital Ownership Account

• A central bank would provide a grant to every citizen, which they would control and use to organize peaceful people power to change the law.
• The goal is to pass an economic democracy act, where every citizen would receive an equal allocation of shares and credit.
• This would allow the richest and poorest to receive the same amount, promoting economic equality.

Citizens Land Development Co-op

• The state of Missouri was the first government to pass a law enabling every citizen to be an owner of the land owned by the state.
• This was done through the Citizens Land Development Co-op in East St. Louis and 20 surrounding communities.
• Buckminster Fuller designed a dome city, Old Man River City, which was planned to be built in Harlem.

Economic Democracy Act

• The act would recommend that the federal government pass a law to promote economic democracy.
• This would allow citizens to buy shares in utility companies and have control over the energy systems.

Capital Ownership and Income

• If every citizen received 10,000ayearfrombirthtodeath,theywouldhave10,000 a year from birth to death, they would have 10,000ayearfrombirthtodeath,theywouldhave190,000 in capital ownership by age 18.
• By age 65, they would have 660,000inassetsandanincomeofover660,000 in assets and an income of over 660,000inassetsandanincomeofover888,000.
• This is more than what can be received from Social Security.

Teaching Economic Justice

• The Justice University aims to teach the benefits of economic justice and capital ownership to students around the world.
• The goal is to create a market economy that distributes wealth, income, and economic power more evenly.

Systemic Racism and Inequality

• The Abraham Federation proposes a solution to the Israeli-Palestinian problem by promoting economic justice and equality.
• The concept of no-interest credit for capital formation is consistent with Jewish, Christian, and Muslim religions.

Sustainable Development

• The financing of sustainable development of green technology can be achieved through the concept of economic democracy and capital ownership.