THE FULL EMPLOYMENT SOLUTION
Home
The idea that nations must budget for and achieve full employment has not yet swept America as a force whose time has come. Why not?Why not, in deed? No one doubts, in the wake of the crises of 2008 and 2009, that without a decent job (or business of your own,) far too many households in laissez-faire oriented democracies are threatened with insolvency—as are its neighbors, as well. A contagion has finally assaulted a global economy—caught racing for a bottom that was far too close for comfort.
Why not—admitting even the above? Because too many of us believe that full employment is not possible. This, in spite of the fact that government and private employment agencies could change—to cooperate with each other, to find and finance a job for everyone who wants one.
For others, they could implement a micro-loan program that effectively helped self-employed persons to go into and remain in business.
Why not—now admitting all the above? Because too many of us believe that even with sound ideas no nation has the money to implement full employment—none can readily afford it. The truth is just the opposite. None can afford to go on without it.
We will find the money we need by taking the money we have—and adding to it overdraft protection from our central bank.
This will allow lawmakers to make an exception—and to finance systemically necessary spending (into initial circulation) of debt-free, interest-free, tax-free money—created to make democracy work—to prevent deflation, depression, untold punishment of children, and eventual resort to war.
To prevent hyper-inflation we will have inflation protected savings accounts to change our debt-burdened system to one that begins with private protected cash.
On this system of private wealth for ordinary people we will build public and private estates secure in the possession of the necessities of life and of civilized individual and national aspirations. This is not a socialist plan to share the wealth. It is a plan to create new wealth —shunning monopoly economic or industrial power—under ministries of production or private parties engaged in illegal and unfair anti-competitive practice.
Taxes to prevent evaporation of the purchasing power of money will remain—but the Internal Revenue Code will be replaced by law that lawmakers can read and understand.
Income tax to confiscate individual economic security will not be allowed to return.
This was the way we won World II. We know exactly how to do it. And we know how to add automation and robotics—and nearly unlimited computer power— to do it even better today than ever before.With respect to a business right to fail, the value of market discipline and undiminished moral hazard, these protections of national and global economies from wreckage (by inexperienced do-gooders,) will focus on management failure.
But, workers and their dependents, whose fate determines the future of the the human race, will wherever prudent and possible be judged and provided for apart from owners and managers not subject to rule by employees.
In time, full separation of employee payroll from employers will usher in a system of indirect hire: at every employer's option, he may elect to have government or its agent pay employees—after which employers will re-pay government.
This will allow government to conveniently maintain worker income in the public interest. The constructive destruction of capitalism will become a blessing that curses no one.
It will be the purpose of this full employment solution to force government to serve and protect the people and to allow producers small and large, public and private, domestic and foreign, to introduce innovation and efficiency into our means of production.
Money will reflect production and distribution—not debt and deliberate imposition of scarcity without moral or popular sanction.
If, in WW II, it seemed that money was no object, it would now be the case that using the tools we had then—updated for decades of miraculous science and technology—we can solve money's contradictions in our favor.
Full employment, fully financed, will take us to the level of green growth and excellence the human race deserves and has in war and semi-peace from the enlightenment and industrial revolution until today sacrificed so much to achieve.