One of the most striking aspects of the reform camp is its fragmentation. There are thousands of reform movements, each more often than not dedicated to one ill or another of the present system, and each ignorant of the tapestry as a whole. To succeed, revolutionaries must strive to see the whole picture. Dr. Moti Nissani


The FairTax, Just Third Way, the National Initiative for Democracy (NI4D), and Limited Purpose Banking are each excellent proposals in their own right. However, none of these proposals alone constitutes an adequate policy reform package. The FairTax would clear away decades of lobbyist-crafted exceptions, subsidies, and complexity in our tax code, likely inviting a new lobbyist feeding frenzy. Only under NI4D with its vast referendum-like power and recall elections, could the public preserve the FairTax and the other proposals in their original, uncorrupted form. In the initial stages, however, NI4D is most vulnerable. NI4D sanctions an ambitious new legislative procedure. It will take a few years to fully implement the provisions of NI4D and gain some experience with it. During this lengthy process of establishing NI4D, the public could be distracted and led astray by volatile financial conditions. Limited Purpose Banking is urgently needed to stop people from gambling with other people's money. The size of the derivatives markets is estimated at 600 trillion dollars as of 2010. A few bad trades can destroy entire companies, or with interlocking ownership, even entire industry sectors. Limited Purpose Banking would stop the bleeding, but our financial outlook would still be dire without embracing Kelso's binary economics (a.k.a. Just Third Way). We must cease issuing credit to the federal government and financial institutions. Instead, every natural citizen must enjoy the benefit of zero interest credit for productive investments, making a clean break from the slavery of savings. The conversion of social security to stock holdings under Capital Homesteading will be much less risky with Limited Purpose Banking and NI4D in place. Capital Homesteading currently proposes a flat income tax; however, the FairTax would be far superior and the few special tax provisions needed to support Capital Homesteading could easily be reconciled with the current FairTax proposal.

I think this platform is the minimum necessary platform that would be capable of sustained social justice. With only some of the pieces, we might get social justice for a while but we might have trouble keeping it.

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Joshua Pritikin
jpritikin@pobox.com