Thom Hartmann: The 99% Need a New Economy
|March 12, 2014||Posted by Staff under Editorials|
A 2014 excerpt of Thom Hartman, Mar 3.
In all 50 states, income inequality has gotten worse, and the average worker has been shut out of our nation’s prosperity.
The federal minimum wage purchases fewer goods and services than it did in 1968.
Either America must accept that the American Dream of widespread economic mobility is dead, or new policies must emerge that will begin to restore broadly shared prosperity.
Ed. Notes: The author calls for the usual higher minimum wage, stronger unions, restricting international exchange, etc. Yet in the past when we had those policies and more, we still had widespread poverty. Shouldn’t we be trying something else?
How about if we try what works? Any place that has used any aspect of geonomimcs has benefitted: de-tax wages, de-fund corporate welfare, enforce environmental standards, recover the socially-generated value of sites and resources, and pay people a dividend from the resultant surplus public revenue, a la the dividend of Alaska or Singapore, for example.
Of those, the most potent and maybe the hardest to implement is the public recovery of publicly-generated land values. It works because it spurs owners to use prime locations most efficiently, which creates jobs and attracts investments. It’s fair because we didn’t create land, we all need land, and paying land dues is a way of compensating our neighbors, those whom we exclude (as long as the government pays a dividend or provides universally desired social services). Land dues run up against land speculation but they are what make geonomics tick.