Smith J. W

Institute for Economic Democracy Smith J. W 2. izdevums

Any economically viable region can create a currency viable only within its borders, use that created capital to build infrastructure and industry, and the circulation of that money will operate a prosperous economy. Simultaneous with the 800-year evolution from plunder by raids to Plunder by Trade, wealth and power established Western property rights law. Those laws appropriated massive sums of money which became capitalism's financial engine. But its efficiency is an illusion. Not only are those laws the foundation of poverty and wars, full and equal rights--as laid out by America's premier economic philosopher Henry George--creates an economic engine half the size with twice the power. The causes of war are eliminated, poverty disappears as technology spreads quickly across the world, a quality life for all the world's citizens can be had in two generations, and the employed labor time for each world citizen drops to 2 to 3 days per week.