On Solutions: The Great Redistribution

[eilen]

Another, from my emal box-- I'd like to share my newsletters here to encourage some discussion on solutions, or a new way to live as our economy and governmental structures collapse around us --you notice it if you are paying attention but honestly, who can deny that these institutions that are supposed to serve us are breaking down? From the regulatory agencies that most define the function of our government (to protect) to the institutions designed to produce an informed and productive electorate (our education system) to our roads, our energy infrastucture, our social safety nets-- we must design a better way to live rather than lay much importance in the Senatorial arguments over the procedure in which our ship of state sinks below the water-- starboard or port first? Meanwhile the passengers in third class are busy setting fires for the opportunity to cut the lifeboats free as they are certain they are weighing the great ship down. For your contemplation and discussion:


If we are serious about creating a more sustainable and equitable economy in
the future, we must face the question of disparity in income and wealth. In
its report "The Great Transition" our London partners at the New Economics
Foundation (neweconomics.org) have outlined an approach that they call "The
Great Redistribution":

"In the Great Redistribution, we show how a redistribution of both income
and wealth would create value as resources are moved from those who do not
need them to those who do. We propose the creation of Citizens¹ Endowments
of up to £25,000 for all people on reaching the age of 21 to enable them to
invest in their future, as well as Community Endowments to provide commonly
owned assets to invest in our local neighborhoods. Both would be funded by a
proposed increase in inheritance tax on all estates to 67%. As well as
material factors, however, we also need to redistribute time. By sharing
working hours and tasks more equally, everyone would be able to undertake
more meaningful work, and by shortening the working week to four days we
could create a better balance between paid work and the vital core economy¹
of family, friends and community life. We also propose a redistribution of
ownership to create a form of economic democracy¹, where company shares are
progressively transferred to employees in a resurgence of mutual and
co-operative ownership forms. More equal societies are happier societies. By
focusing on fairness we reap both social and economic benefits, as we no
longer have to pay such a high price for the social ills¹ associated with
high levels of inequality."

To read the full report go to:
http://neweconomicsinstitute.org/content/nef-publications

The sections of the report include: the Great Revaluing, the Great
Redistribution, the Great Rebalancing, the Great Localization and
Engagement, the Great Reskilling, the Great Economic Irrigation, and the
Great Interdependence. We will focus on each element separately in future
eNewsletters.

The New Economics Institute is working closely with nef to develop the
practical details of how to stage such a redistribution. The US is
different from Britain, different from Europe, with its own distinct culture
and legal system. The solutions to addressing the problem of redistribution
will likewise be distinct.

We have only an outline of a Great Redistribution, and one that will change
as social, political, and environmental conditions change. It will take
much public good will and much careful policy work to initiate. However, an
undertaking along the lines outlined is essential, for humanitarian reasons,
for economic reasons, and in order to meet our highest ideals as conscious
beings on a fragile and interconnected planet.

Best wishes,
Susan Witt and Stephan Crown-Weber
New Economics Institute
140 Jug End Road
Great Barrington, MA 01230
www.neweconomicsinstitute.org

[rfranklin]

1. The uber wealthy will create a catastrophic event before they...

would let this even begin to happen. A nuclear attack, a dictator along the lines of Hitler or Stalin, or an outbreak of some virulent diease. Anything to distract and misdirect the attention away from their hoards.

[northernlights]

2. we're already in the midst of a Great Redistribution

aka reverse RobinHood. Redistributing from the middle class to the uber-wealthy.