SB: “How can you own what was there for your ancestors before you and will be there for your children after you?” was the common belief.”
Me: Yes. And actually, in a monetary economy, everyone CAN own an abundant share of the commons and for that matter of the entire productive heritage of mankind as well which has an almost inestimable value. As I have said many times here Georgism was an insightful theory. With a directly distributive monetary paradigm this could be accomplished, and a land tax could be used for one of the proper justifications for taxation, discouragement of economic and financial vices like pooling of money and rent seeking with the proceeds going to needed infrastructure. When in doubt about policy….integrate seeming opposites.
As for the undiscovered economic (and natural) law is concerned the one that fits the bill is:
The organism/individual has the natural right to partake of the abundance of the environment and its technological derivative productiveness.
None of this is NECESSARILY in contradiction with private property or profit, and problems arising out of such are remediable by an integration of employment, direct, additional and abundant monetary distribution and enlightened taxation.
Again, when in doubt integrate!
JR: I agree with your view on the slump-time payments for non-production, which money would better have been paid to people to get the food. However, that’s just another aspect that shows Douglas’ analysis was right, but not pertinent to this aspect.
A financial transactions tax which would catch speculation as well as production would help the last aspect, and that is part of our policy here. It would have to be at a very low rate, 1% or lower to prevent serious cost inflation, and it would have to catch ALL speculation, including bank transfers of reserves etc. It was first suggested by Tobin as a tax on international transactions, with the money being used to help poor nations. Good idea too, but it should also work internally because the speculation economy is so big.
Me: Yes, I was aware of the Tobin tax and think it would be a legitimate means and target for taxation of speculation.
Just to mention, my philosophical and policy extension of Social Credit’s dual policies (an abundant dividend creating a virtual middle class income guarantee, a high percentage [25% and up] retail discount that is also extended to the retail product of each business model) would saturate the economy with monetary Gifting proactively pushing the vector of the entire economy toward debt reduction as well as reduction of the necessity for new debt, effectively integrate price deflation harmlessly and productively into profit making systems and make all transfer taxes for both the individual and businesses (welfare, unemployment and even social security) utterly redundant thus improving both individual purchasing power for employed individuals and business profitability seeings how they now bear those burdens.
No sense at all anymore of being hypnotized and dominated by Debt when monetary Gifting is the new primary paradigm and a better solution all the way around.