Jeremiah, Smitty, others....
OET - just a starter point concept for maybe an OETpedia... "Open" as in "Free-Thinking and Usage" for everyone... (All oh21 content is "Open", no usage/edit restrictions).
Should we discuss/write how OET can provide a far more stable, sustainable, and fair global economy?
Most/All Wall (or Washington) Street Pundits (WSP) politicians, C*Os, economist, dogmatist... claim that good economic times are due to their leadership and proof of sound/good economic policy/theory, and all bad economic times are surprise anomalies, due to Fycking Magic (FM), voodoo, whoops, workers/consumers, gods' will... (never bad leadership or organized crime).
You and many others as Public Economy Pundits (PEP) postulate, well in advance of WSPs, that the problems are of known general/practical origins and preventable when addressed by long-term fiscal responsibility as law and policy. Fiscal/institutional law and policy governs everything a private citizens must do to protect the economic wealth (like $700B+...) of businesses and institutions, but WSPs avoid (most) repercussions after committing obvious "professional" negligence (at least) and/or criminal (should be) misrepresentation of facts for personal greed.
It is time we take the current WSP academic/plutocrat parochial economic arts (not science) to task for promoting corporate-welfare, strangling innovation, exploiting creativity..., while providing only a top-down macro/micro economic system that can be frequently used for sociopath/criminal purposes that collapses domestic/international economies.
Anyway, if there was an OETpedia I would post as/to RFC/edit, and seek consensus too lock topics, until better RFC content indicated economics consensus had swayed to a stronger practical probability.
Most of US are not economist or business .... For me, I do not even have a college degree (the disclaimer, I am not a professional...), I like the anonymity of being oh21.
RFC-0001, Economies can be built on ownership, but not on liability/credit. Incorrigible/recalcitrant debtor nations/institutions, businesses, and persons waste and abuse public resources for private gain, and betray the public trust "that citizens will behave responsibly" for everyone. Being a debtor should not be a crime, unless the real intent was not to pay (theft), but a speculative creditor that negligently (loss of business/professional license to practice), or knowingly (prison) participates in predatory credit activities. Predatory credit activities: (1) intent to obtain private property by loan default/foreclosure; (2) intent to provide credit instruments that not appropriate fixed time and rate; (3) ....
RFC-0002, A USA Constitutional Amendment requiring a balanced budget. Yes, there are always fine-points: (1) war; (2) catastrophes; (3) exigencies, (4) .... Always requiring all our creditors paid within six years, (without a war win) no great nation can survive creditors forever. We must always pay up in a timely responsible manner, and run budget surpluses to truly cut taxes/penalties for ourselves and the prosperity of our posterity (all else is political/economic bullshit) .
RFC-0003, No interstate/international bank/financial institution will ever be provided Tax-payer resources to prevent business failure/acquisition by competitors. Tax-payer resources should only be used at the community and/or lowest economic levels for public-works (infrastructure) contracts, and too guarantee capitalization of stable regional/local banks. Put bad banks, institutions, businesses... up for sale, and always payback the labor retirement funds (on a post 12 or 24 month value) first from any asset liquidations and other proceeds. Failing/legacy businesses are always replaced by healthy/growing businesses in a real "Capitalist" economy. Capitalist (circulate money/wealth) economies are wide-base community/public driven. Plutocrat/Top-down (trickle-down) economies are feudal at best, and frequently draconian at demanding citizens (the wide-base) sustain the corrupt nepotist status-quo (as in a pyramid fraud scheme).
RFC-0004, One-Tax will "Open" a wide-base fair-tax with few to no hidden evasions. The "Sales Tax" model provides many advantages over the present failed and despised "hide a tax on everything everywhere (gas, bread, cars, utilities, services...)." Example: Business One Sales Tax (BOST) at 10% (no exceptions, not even food, health care...) : (1) Family home sale 0% tax, but realtor "services" provided would be taxed at 10% and the realtor business/individual would pay the BOST; (2) Citizen (family/friend) sales a car 0% BOST, Labor employee buys a car for $20K the car dealer pays $2K BOST, C*O buys a car for $200K car dealer pays $20K BOST; (3) One C*O buys a $200K import dealer pays $20K BOST, One C*O buys a $200K domestic dealer pays $20K BOST; (4) Car repair cost $1K repair shop pays $100 BOST; (5) Family Farm Sales 0% BOST, farm equipment dealers pay BOST, Corporate-Farms Sales pay BOST for products sold and processed foods sold. IOW: Only a business pays the sales-taxes (no other taxes), sales taxes are not itemized on the bill but included in the goods and services cost. Minimum wage (at least) would be paid to all labor personnel (restaurants, construction, domestic help, farms...) Tips/Extra pay are 0% BOST, menu items include the BOST as real cost to the customer. Taxes DO NOT harm businesses or cause them to fail, failure is always due to bad business decisions, which good capitalism cures by liquidation or acquisition. Taxes DO NOT harm businesses or cause them to fail, because "We The People" always pay the taxes to the businesses (they do the paper-work) and/or governments (we do the paper-work). So, BOST means the IRS can no longer threaten private citizens. The IRS still collects all taxes from the BOST. USA Citizens no longer file annual income tax returns, only BOST returns are filled, by domestic and foreign businesses per quarter/annual.
RFC-0005, End all market speculation/gambling or move it to Las Vegas. An investment market should never be speculatively volatile. End the shorts, longs... and transition all investment paper/instruments holdings (AFAP) to common stocks/bonds.... An investment market should be for public investments not gamblers/criminals and AI-shadow-traders defrauding the public investment markets of hard-earned money/gains. All transactions of $1M or more should be registered 12 months in advance of sale (profit +% BOST).
RFC-0006, END WIPO/IPR oppression of innovation AFAP. End corporate-welfare ownership of personal creative property in business, entertainment, arts.... Laws should protect and sustain the creative endeavors of the individual/artist scientist, engineer, sculpture, lyricist, play-write... and prevent corporate-welfare exploitation. IOW: Are we to be a nation of corporate slaves or free citizens!
RFC-0007, ... anyone can support ..., but not even gods/cranks can stop ...