Stiglitz: Will Capitalism Survive The Wall Street Apocalypse?

The World Needs a True Centrist Equation

The world needs a centrist solution to the global economic crisis. Such a model DOES exist, it is right in front of our nose. Why can’t we try enhanced profit-sharing so that workers can have 20% of net profits, then give the business a tax credit for profit-sharing. Isn’t this a business friendly reinvestment in private enterprise?

And does anyone disagree that if household income rises substantially that this would increase the exchange of goods and services? Could we not call this a built-in stimulus? Would it not also make mortgages and health care more affordable? And if Fred, flipping burgers, suddenly sees more money than his salary, doesn’t that make it easier to achieve self-sufficiency “on-the-street”? Doesn’t it also compete with the drugs and guns underground economy? Isn’t this real supply-side economics and economic democracy?

Would it not pay for itself with increased productivity, a greater GNP, and a wider tax base, which would increase withholdings and thus replenish the safety net programs?

Would it not also lean out government and reduce its burdens? Isn’t this the missing link for both conservative and liberal aspirations? It is right in front of our nose. Isn’t this an investment in our workers, who are our families?

Haven’t the government, banks, and business failed at being reliable stewards of the worker’s savings and investments?

Where is the flaw in this logic?

Why can’t we try this on a local or statewide trial-run to see if it would work?

Are liberals and supply-siders afraid to put their money where their mouth is?

see http://www.profitsharinguprising.com to read a free online treatise that outlines this strategy.

This is a strategy that could unite the left and right; it is a politically centrist concept.

Please help spread the word to our representatives, the current administration, to friends, to business owners, and to everyone. This is a win-win for everyone. This could be the new more humanitarian model of capitalism that was meant to be.

— Darian Lance Smith

Darian Lance Smith of NC @ Jun 17, 2009 17:29:40 PM