Professional Documents
Culture Documents
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)
// authoritarianism
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
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