You never change things by fighting existing reality. To change something, build a new model that makes the existing model obsolete.
– Buckminster Fuller
The Economic Democracy Act, formerly called the Capital Homestead Act is a comprehensive legislative program of tax, monetary, and fiscal reforms to make every citizen a shareholder in the technological frontier. It is designed to connect every person to the global economy as a fully empowered participant and owner of new technologies, by dismantling structural barriers in our basic institutions and financing capital formation through ownership democratization vehicles.
This economic agenda for the 21st Century provides a blueprint for leaders committed to restructuring the legal and financial stem to grow the economy at maximum rates with no inflation, in ways that build a Just Third Way version of economic democracy as the essential foundation for effective political democracy.
The Economic Democracy Act (EDA) would establish equal opportunity and access to the means for every citizen to become a capital owner sharing in the growth of an advanced technology economy. This Act offers a private property and free market-oriented alternative for saving the Social Security System as a national retirement income security plan.
Even more, the EDA offers a new national policy to foster life-long “capital self-sufficiency” as a means to achieve true economic independence for all Americans. If implemented, capital ownership would be systematically de-concentrated and made directly accessible to every person, without reducing property rights of the wealthy.