Demcracy For Economics: a worthy proposal? FWD

Tom Boland (
Fri, 20 Nov 1998 01:18:21 -0400

What do you think of the proposals for democratizing economic decisions in
the forwarded article below?

1) ALL corporation$ must be REPLACED with COOPERATIVES.
2) Require the ELECTION, rather than appointment, of ALL financial,
economic, and banking officials.
4) A fourth supplementary provision would be a 4-DAY (32-HOUR) WORK-WEEK.
Author: Robert Mcelwain
Date: 1998/11/10
Forums: talk.politics.theory

                           DEMOCRACY For ECONOMICS

     Much has been said and written about the virtues of
democracy.  The United States CLAIMS to have it, and has been
SELF-RIGHTEOUSLY trying to IMPOSE it on other countries such
as Haiti, Cuba, Panama, Nicaragua, even Kuwait and Iraq.
Other western countries also CLAIM to be democratic, and
democratic reforms have been sweeping the communist world.

     But a TRUE democracy can NOT exist, in the United States
nor anywhere else, unless and until the PRINCIPLES of demo-
cracy are FULLY applied TO ECONOMICS, where they COUNT the

      Economic democracy for the United States has three main
requirements, which should also be established in ALL other

    First, ALL corporation$ must be REPLACED with COOPERA-
TIVES.  Simply change the federal and state corporation laws,
so there is one vote per share HOLDER, rather than per share
of stock.  REPLACE the bank$ and $aving$ and loan a$$ocia-
tion$ with CREDIT UNIONS in the same way, so there is one
vote per depositor and shareholder.

     Second, require the ELECTION, rather than appointment,
of ALL financial, economic, and banking officials.  For
example, the person occupying the position now held by Alan
Greenspan should be periodically and directly ELECTED on a
national level.  There could even be added a 4TH BRANCH of
government, for "Banking and Finance".

     Third, establish a GUARANTEED MONTHLY INCOME, just
enough for basic food, clothing, and shelter costs, given to
each and EVERY person REGARDLESS of his or her wealth, wages,
salary, or other earnings.  CREATE the money for this OUT OF
"THIN AIR" by simply having computers OFFICIALLY print out
and mail monthly allowance checks.  IF THERE'S A WILL,

     A fourth supplementary provision would be a 4-DAY (32-
HOUR) WORK-WEEK.  This would distribute the available useful
work more evenly, fairly, and DEMOCRATICALLY among everyone
who wants it, and give most employees an extra day each week
for themselves and their families.  SIMPLY CHANGE THE FEDERAL
AND STATE OVERTIME LAWS, FROM 40 TO 32.  Reduce this by one
hour every year down to a 14-hour work week, as automation
expands, and inefficient, worthless, or harmful jobs, such as
in cigarette factories, and the military, are phased out and

     Such applications of DEMOCRACY to economics would
eliminate or greatly reduce many of the problems now plaguing
the People of the world--starvation, malnutrition, homeless-
ness, poverty, poverty-induced crime, unemployment, the need
for the legalized- EXTORTION and ARMED ROBBERY of alimony and
"child support", even taxation, etc., ETC..

     The present banking $y$tem in the United States ALREADY
has a complex, perhaps misleading way, of creating money out
of "thin air", involving the "Open Market Committee" of the
PRIVATELY-OWNED "Federal" Reserve System, discounting proce-
dures, loan procedures, interest rates, etc..

     The problem with it is that the few powerful banker$
DICTATE which people or enterprises receive this new money,
and what it may be used for, and then demand that it all be
paid back to them, PLUS interest, AS IF THIS NEW MONEY
BELONGED TO THE BANKER$ ALONE!  And the paper "currency" that
we now use is NOT even real currency, because it is not
redeemable in gold or silver on demand.

     In other words, money is something which the banker$
And the government is GUILTY of COMPLICITY in this ORGANI$ED
CRIME.  They CREATE money basically by LOANING IT OUT!

     And "capitalism" is NOT free enterprise.  It is
CORPORATE SOCIALISM, which is the opposite side of the SAME
coin as STATE socialism which we call "communism".  They are
two different kinds of SLAVERY, and two different kinds of

     Consider the ABSURDITY of such a money system,
especially in a country that is SUPPOSED TO BE "free and

      Consider also the ABSURDITY of forcing People to compete
against each other for a chance to "EARN" the things they
need and should receive regardless.  Look what happens to the
LOSERS of such competition and their families!  Even the
"winners" are SLAVES, when they have to settle for work they
don't really want, and are forced to submit to the WHIMS of
their bo$$e$.  They are also SLAVES to the extent that they
are UNDERPAID for their work.

     Newly created money should be PERMANENTLY and DEMOCRA-
TICALLY distributed to ALL of the People, who are much better
qualified than the banker$ to spend it properly.

     It is high time to stop being HYPOCRITES about freedom
and democracy, and start fully applying these two principles
TO ECONOMICS where they COUNT the most.

Robert E. McElwaine

P.S.1: "Legal" or not, EXTORTION and ARMED ROBBERY, committed
against Individual People or Families, are CRIMINAL
OFFENSES, REGARDLESS of who does them or why.


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