Wealth and Power Distribution
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Questions and Answers

What is the primary reason why many people are economically vulnerable?

  • They do not own private property that produces wealth (correct)
  • They do not have advanced education
  • They do not own land
  • They do not own advanced technologies

    • Who are the rich and powerful in today's economy?

  • The people who own land and technology (correct)
  • The people who own only land
  • The people who work the hardest
  • The people who own only technology

    • What is the primary source of wealth in the 21st century?

  • Land and technology (correct)
  • Technology and information systems
  • Robots and machines
  • Land and people

    • What is the result of concentrated ownership?

    <p>Economic power is concentrated</p> Signup and view all the answers

    Why are most non-property-owning workers economically vulnerable?

    <p>They can only produce insecure subsistence incomes from their jobs</p> Signup and view all the answers

    What is the ideal economic system according to the passage?

    <p>A system where everyone has an equal opportunity to own shares in companies</p> Signup and view all the answers

    What is the primary way that people become rich and powerful?

    <p>By owning shares in companies that use advanced technology</p> Signup and view all the answers

    What has not increased much over the last 1,000 years?

    <p>The wealth-producing power of an individual worker</p> Signup and view all the answers

    What is the primary goal of the Economic Democracy Act?

    <p>To democratize access to capital ownership and profits</p> Signup and view all the answers

    How much is added to America's productive assets annually?

    <p>$4 trillion</p> Signup and view all the answers

    What is the purpose of a Capital Ownership Account (COA)?

    <p>To access interest-free capital credit for investments</p> Signup and view all the answers

    What is the main benefit of the Economic Democracy Act for workers?

    <p>Access to capital ownership and profits</p> Signup and view all the answers

    What type of companies can be invested in through a Capital Ownership Account (COA)?

    <p>Companies where a family member works, has a monthly billing account, or is well-managed and profitable</p> Signup and view all the answers

    What is the name of the historic act that the Economic Democracy Act is modeled after?

    <p>The Homestead Act of 1862</p> Signup and view all the answers

    What is the primary benefit of the Economic Democracy Act for communities?

    <p>Access to interest-free credit for community development</p> Signup and view all the answers

    What is the goal of Companies establishing Employee Stock Ownership Plans (ESOPs) and Consumer Stock Ownership Plans (CSOPs)?

    <p>To provide benefits to employees and customers</p> Signup and view all the answers

    How much would every citizen gain by age 65 under the Economic Democracy Act?

    <p>Access to capital ownership and profits</p> Signup and view all the answers

    What is the alternative economic system proposed by the Economic Democracy Act?

    <p>A 'just third way' combining elements of socialism and capitalism</p> Signup and view all the answers

    What is the main purpose of the Economic Democracy Act?

    <p>To promote community land planning and governance decisions through citizen participation</p> Signup and view all the answers

    How would the Federal Reserve System support businesses under the Economic Democracy Act?

    <p>By supplying local banks with the money needed for business growth</p> Signup and view all the answers

    What is the purpose of Capital Ownership Accounts in the Economic Democracy Act?

    <p>To provide a means for citizens to purchase shares in companies with interest-free capital credit</p> Signup and view all the answers

    How would citizens pay for the shares purchased with interest-free capital credit?

    <p>With tax-deductible dividends from the companies</p> Signup and view all the answers

    What is a key benefit of the Economic Democracy Act for citizens?

    <p>A decent and regular income from the earnings of accumulated capital</p> Signup and view all the answers

    What is a long-term benefit of the Economic Democracy Act for citizens' families?

    <p>Income-producing property to pass on to children</p> Signup and view all the answers

    What is the primary reason why people who own technology and land have significant economic power?

    <p>Because they have control over the means of production</p> Signup and view all the answers

    What is the primary difference between rich and powerful individuals and economically vulnerable people?

    <p>Their ability to own income-producing wealth</p> Signup and view all the answers

    What is the primary reason why many people are not able to produce secure incomes?

    <p>Because they do not own the means of production</p> Signup and view all the answers

    What is the primary characteristic of a just and democratic economy?

    <p>Equal access to the means of owning income-producing wealth</p> Signup and view all the answers

    What is the primary advantage of owning shares in companies that use advanced technology?

    <p>It allows individuals to profit from the work that technology does</p> Signup and view all the answers

    What is the primary reason why the wealth-producing power of an individual worker has not increased much over the last 1,000 years?

    <p>Because they do not own the means of production</p> Signup and view all the answers

    What is the primary consequence of concentrated ownership in the economy?

    <p>It leads to a concentration of power among a few individuals</p> Signup and view all the answers

    What is the primary benefit of owning income-producing wealth?

    <p>It provides individuals with economic power and security</p> Signup and view all the answers

    What would be the main benefit of citizens having access to capital credit under the Economic Democracy Act?

    <p>They would be able to invest in shares representing newly added machines and structures.</p> Signup and view all the answers

    How would the Federal Reserve System support businesses under the Economic Democracy Act?

    <p>By supplying local banks with the money needed for business growth.</p> Signup and view all the answers

    What would be the main purpose of 'irrigating' new money and credit through Capital Ownership Accounts?

    <p>To democratize access to capital credit.</p> Signup and view all the answers

    What would be the long-term benefit of the Economic Democracy Act for citizens?

    <p>They would be able to pass on income-producing property to their children.</p> Signup and view all the answers

    How would citizens pay for the shares purchased with interest-free capital credit?

    <p>Through tax-deductible dividends of the companies they invest in.</p> Signup and view all the answers

    What would be the result of citizens having access to capital credit under the Economic Democracy Act?

    <p>They would be able to invest in shares and become owners of the capital they accumulate.</p> Signup and view all the answers

    What is the primary goal of the Economic Democracy Act, other than generating private sector profits?

    <p>To systematically distribute ownership of new growth to every individual citizen</p> Signup and view all the answers

    What is the primary way for citizens to access interest-free capital credit under the Economic Democracy Act?

    <p>Through a local bank with a Capital Ownership Account (COA)</p> Signup and view all the answers

    What type of companies can citizens invest in through a Capital Ownership Account (COA)?

    <p>Companies for which a family member works</p> Signup and view all the answers

    What is the historical act that the Economic Democracy Act is modeled after?

    <p>Lincoln's Homestead Act of 1862</p> Signup and view all the answers

    What is the primary benefit of the Economic Democracy Act for communities?

    <p>Attraction of interest-free credit for development and infrastructure</p> Signup and view all the answers

    How do citizens repay the interest-free capital credit under the Economic Democracy Act?

    <p>Through future pre-tax earnings of the capital itself</p> Signup and view all the answers

    What is the ultimate goal of the Economic Democracy Act for citizens?

    <p>To provide every citizen with a share in power over technological progress</p> Signup and view all the answers

    What is the primary benefit of the Economic Democracy Act for workers?

    <p>Participation in the profits from sustainable economic growth</p> Signup and view all the answers

    What is the alternative economic system proposed by the Economic Democracy Act?

    <p>A 'just third way' that combines private sector profits with ownership for every citizen</p> Signup and view all the answers

    How much is added to America's productive assets annually, according to the passage?

    <p>$4 trillion</p> Signup and view all the answers

    Study Notes

    Wealth and Power

    • Throughout history, the rich and powerful have owned the means of production, which has enabled them to accumulate wealth and power.
    • Today, the means of production are primarily land and technology, and those who own these assets have significant economic power.

    The Problem of Concentrated Ownership

    • The problem is that too few people own the income-producing wealth, while many people own nothing and owe more than they own.
    • This concentration of ownership leads to economic insecurity and powerlessness for many citizens.

    Economic Power and Property

    • Economic power is closely tied to property ownership and the means to acquire property.
    • In today's economy, the most significant forms of property are advanced technologies and corporate equity.

    The Solution: Economic Democracy

    • The Economic Democracy Act proposes a new way to distribute wealth and power, where every citizen can gain ownership in the means of production.
    • This would involve providing access to capital credit, enabling citizens to purchase shares in companies that use advanced technology.

    The Economic Democracy Act

    • The Economic Democracy Act would allow every citizen to gain ownership in the means of production, without taking away from current owners.
    • Every child born today could gain a share in the profits from sustainable economic growth by age 65.

    How it Works

    • Citizens could access capital credit from a local bank to purchase shares in companies, with the loan repaid through future profits.
    • Companies could establish Employee Stock Ownership Plans (ESOPs) and Consumer Stock Ownership Plans (CSOPs) for workers and customers.
    • Communities could establish for-profit Citizens Land Development Cooperatives (CLDCs) to attract interest-free credit for development and infrastructure projects.

    Access to Capital Credit

    • The Economic Democracy Act enshrines access to capital credit as a fundamental right of citizenship.
    • The Federal Reserve System would supply local banks with the money needed for private sector growth, which would then be distributed through Capital Ownership Accounts.

    Wealth and Power

    • Throughout history, the rich and powerful have owned the means of production, which has enabled them to accumulate wealth and power.
    • Today, the means of production are primarily land and technology, and those who own these assets have significant economic power.

    The Problem of Concentrated Ownership

    • The problem is that too few people own the income-producing wealth, while many people own nothing and owe more than they own.
    • This concentration of ownership leads to economic insecurity and powerlessness for many citizens.

    Economic Power and Property

    • Economic power is closely tied to property ownership and the means to acquire property.
    • In today's economy, the most significant forms of property are advanced technologies and corporate equity.

    The Solution: Economic Democracy

    • The Economic Democracy Act proposes a new way to distribute wealth and power, where every citizen can gain ownership in the means of production.
    • This would involve providing access to capital credit, enabling citizens to purchase shares in companies that use advanced technology.

    The Economic Democracy Act

    • The Economic Democracy Act would allow every citizen to gain ownership in the means of production, without taking away from current owners.
    • Every child born today could gain a share in the profits from sustainable economic growth by age 65.

    How it Works

    • Citizens could access capital credit from a local bank to purchase shares in companies, with the loan repaid through future profits.
    • Companies could establish Employee Stock Ownership Plans (ESOPs) and Consumer Stock Ownership Plans (CSOPs) for workers and customers.
    • Communities could establish for-profit Citizens Land Development Cooperatives (CLDCs) to attract interest-free credit for development and infrastructure projects.

    Access to Capital Credit

    • The Economic Democracy Act enshrines access to capital credit as a fundamental right of citizenship.
    • The Federal Reserve System would supply local banks with the money needed for private sector growth, which would then be distributed through Capital Ownership Accounts.

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    Description

    Explore the relationship between wealth and power, and how the concentration of ownership affects the economy and society.

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