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introduction

Over time, the definition of prosperity has lost its root meaning
('economic well-being'), to the modern sense of the word, which is
the pursuit of wealth without virtue. This adaptation can be traced
from the early convictions of Thomas Jefferson, the visionary who
after the witness of the exploitative market society in France,
returned to the United States dreaming of the ideal society and
government for the people; then, to the prophetic historian William
Appleman Williams who observed the evolving ethos of US
imperialism and foreign policy; finally, resting upon the pragmatic
solutions offered by Roger Terry, who suggests to remove capitalism
that economic and political system designed for the pure
maximization and motive of profit. And it is through this tampered
vision of global prosperity that gave birth to American
exceptionalism, which knew no bounds for limitless ownership. As a
result, the wages of labor has lead to a decline of our Constitutional
values: a loss of independence, a mirage of democracy, and a fraud
of equal rights. But, uniquely found in the prescriptions of Terry and
Jefferson (as argued by Richard K. Matthews), is the solution for
renewing our society, through (1) limited ownershipby the
installation of a three-tier economic system, Federal Democracy, a
100% percent reserve ratio, noncompetition, and (2) educationby
the formation of an informed and moral citizenry. Thus, the outcome
of these proposals will expect empire to starve, "the parasite who
can no longer feed upon a dying host."
I. Paternal Benevolence and the People's Independence
"It is not that men are ill fed, but that they have no pleasure in the
work by which they make their bread, and therefore look to wealth
as the only means of pleasure." (Christopher Lasch)

security from foreign aggressors: creation of Covenant of


the League of Nations, Article X ---> repealed

II. Well-Educated Citizens and the Exercise of Democracy


"If we think them [i.e., the people] not enlightened enough to
exercise their control with a wholesome discretion, the remedy is
not to take it from them, but to inform their discretion by
education." Jefferson (p.88)
- meritocracy: people selected on the basis of ability
- education will help people understand the consequences of their
choice in a larger context that includes OTHER PEOPLE (not to the
exclusion of)
- modern education: bias; socialization for serfdom; narrow career
focus (STEM) to serve economic "needs" ---> people only rewarded
for their machine-like value: utility, productivity, efficiency
- Terry: revitalize education with philosophy and religion ---> pursuit
of knowledge and wisdom, the formation of character
- foundational knowledge v. informational knowledge (fluency in
language, sciences, mathematics, arts) v. (fluent in practical facts)
---> leads to self-understanding ---> self-actualization

philosophy: worldviews, ideologies


religion: morals (to diminish the presence of selfishness) ---> politics

// authoritarianism

expects conformity to rules and customs, that are subject


to change

without regard to impact on communities


// people's independence

deprived of individuality: talent, skill, intelligence, opinion

subordination in exchange for "security" --> reliance on


capitalism
- Terry: "A benevolent business owner can easily become a tyrant if
the company experiences a few setbacks."
- Williams (on the image of the benevolent and progressive
policeman): "... it could use its power in alliance with the other rich
to control the poor in return for the rich accepting the American
rules for the international marketplace."

Terry:
3-tier Economic System; separate and self-governing bodies
1) small businesses: few owners/partnerships; nonessential
goods/services
2) large corporations: employee-owned; no central management, or
elected representatives depending on company size
3) public industries: transportation, communication, education,
defense, utilities
- local governments > people vote, do policy-making
compared to:
Jefferson: ward-republics; bottom-up approach
- local > state > national
1) local: self-governing people
2) state: domestic and civil rights
3) national: foreign affairs, security
// Federal Democracy ---> equality
- elected officials (representatives) have limited terms
- separation of legislative, executive, judicial branches "(policymaking/administrative/decision-making)" ---> prevents abuse of
power/cronyism: appointed friends/family members based on
association not merit
---> representatives reflect diverse populace
// 100% Reserve Ratio ---> eliminates debt
- "100% reserve ratio on demand deposits"
- cannot create money (federal notes) backed by debt
- value of currency contingent to assets
- balanced trade - "immobile capital"
// Noncompetition
- restrained by ethical/moral values
- level-playing field
- competition by comparable talent

a) corporations: decorative "reward system" to gain commitment


from its workers

dispersed ownership v. concentrated ownership same) =


no ownership/influence on company decisions

b) military: decorative military service to gain civility (Cuba, 1896)

marketplace expansion under the guise of cloaked


"charity": economic intervention, military assistance,
restore order

Open Door Policy - President Woodrow Wilson: access to


foreign trade

III. A New Complex Leads to Equal Rights and Opportunity

conclusion
- discard of the old order
- equality: end to income inequality, racial/gender/class bias
- empowerment of the people --> authority over legislative,
executive, and judicial bodies; business; and local government
- redistribution of property
- permanent cap on empire

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