Sustainable economies and the ownership solution [Jeff Gates, ISSS 1998 Plenary Session, July 22/98

[Plenary session, July 22/98, 12:00 p.m.]

Jeff Gates, from Atlanta, lawyer, author of book.

The Ownership Solution -- book.

Capitalism is quite divisive. System has become dumbed-down: unable to access the information within the individuals and communities. Can't have a private enterprise system without property. How to wire capitalism for inclusion? Non-sustainability in 5 independent domains. Sao Paolo: 4 families own most of land, yet peasants a clear-cutting.

Instead of paying utilities, what if you bought assets?

Will pay out entitlements (pensions, welfare), but unsustainable given baby boom. Grotesque inequality: development is not worth sustaining. 8% of workforce accounts for 19% of layoffs. Huey Long wanted to redistribute wealth. Ownership, we're between stories: What's the third way. Why does capitalism creates so few capitalists? Economists say save way into system. Had written bill on Employee Stock Ownership Plans. Need political will to adopt. Need a level playing field? It's a graveyard! What is this? Community without the communism. In other countries, observing Emerging Sustainability.  
foreign claims on FOREX
capital market dominance
supply or demand economics
illiquidity
top-down capital markets
remote numbers-driven
time value
indignity / dependence dignity / self reliance
Ownership Patterns & sustainability Looked at 21 civilizations to see why they collapsed. T.S. Eliot: What life is you, if you have not life together?

Questions

In Sweden, have fortune taxes on everything you own, so that when you die, you're down to skin and bones.

Are we talking about the sustainability of our civilization? What about other species? Growth of illicit drugs and sex is largest growing trend.

Howard Odum: Would a national income limit solve the problem? Suggestion: Addressing the message to the people who have wealth. Philanthropism is a stage of life. Can you report on where the message is getting through? Why does the U.S. have the problem, giving the democratic process? The legislators are elected.

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