The economy is bleak. It is believed, however, that there are adequate solutions to the current global crisis.
During the Democratic National Convention, all I heard was Amway-like philosophy such as entrepreneurialism and competition.The global economy actually needs to change to a more cooperative economy based on need, rather than profit.
Starting with the United States, what we need to do first are these things:
Have the government nationalize all the major industries. They should become partly government owned. Also, they should exist as democratically controlled agencies. When workers control the means of production, there is quality in the workplace and quality for consumers. Place salary caps on all professional executives, eliminating excessive salaries with golden parachutes.
Decentralize the confiscated companies, and keep them as they existed as separate corporations.
Replace the executives who created this mess with new executives with regulated contracts controlling and making their efforts available to public inspection. Accountability and responsibility is the main feature. No one will be able to take a bath in the people’s money.
Arrest and confiscate all the assets of past executives and their golden parachutes. Return that money to the people. The government can use these assets to counter costs of the buyout.
Future allocations of money for new enterprises, such as solar and ecological initiatives, should be implemented with a special program that allows for public enterprise of newly created corporations that are democratically controlled. No more handouts for millionaires and billionaires.
Have the CEOs and executives stand trial for their crimes, and have them sentenced in a just and speedy trial.
Make privatization unconstitutional, and take back all entities sold off without our permission. It is time to end the millionaire/billionaire mentality as the only answer to economic stimulation. It seems Reaganomics finally reared its head and nothing trickled down for anyone who doesn’t have power or influence. It was a disaster 20 years in the making.
If our forefathers had only seen this, our constitution would be different today. Maybe they should have experimented with socialism. Conservative Alexander Hamilton did when he founded the Paterson Society of Useful Manufacturers — one of history’s great businesses and co-operatives that was worker owned and operated.