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Democratising the Wealth of Nations

Shann Turnbull

International Institute for Self-Governance; Sustainable Money Working Group

1975 9, 30

Sydney, Australia

This book introduces three techniques for democratising the wealth of nations. The three techniques: Ownership Transfer Corporations (OTCs), Cooperative Land Banks (CLBs) and Producer-Consumer Cooperatives (PCCs), like Employee Share Ownership Plans (ESOPs), transfer wealth without taxes or welfare to allow the extent of taxes, welfare and the size of government to be reduced. Unlike ESOPs, the three techniques systemically democratise wealth by replacing static, exclusive and perpetual property rights with dynamic, inclusive and time limited rules of ownership. In this way a more efficient, equitable and participatory economic system can be created described as Social Capitalism. The Credo of Social Capitalism being: From each according to their interest; To each according to their contribution; Provided the basic needs of all are fulfilled. Differences between economists and business people in describing the nature and meaning of wealth are explained along with the non monetary value wealth. Also explained is why employees and professionals stay poor and how corporations concentrate wealth in a manner that is not reported by accountants. The book explains how wealth can be gained from inflation but this is limited by the ability of society to create wealth from production. The introduction of dynamic property rights could be used to create a community dividend to replace welfare to allow governments to replace full employment policies with a policy of fulfilment from work and/or leisure.

Number of Pages in PDF File: 95

Keywords: Capitalism, Community Dividend, Democracy, Ownership Transfer, Property rights, Wealth

JEL Classification: B59, D23, D39, D63, G38, H23, P48, R51

Accepted Paper Series

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Date posted: June 20, 2008  

Suggested Citation

Turnbull, Shann, Democratising the Wealth of Nations (1975 9, 30). Sydney, Australia. Available at SSRN: http://ssrn.com/abstract=1146062

Contact Information

Shann Turnbull (Contact Author)
International Institute for Self-Governance ( email )
PO Box 266 Woollahra
Cell: +61418222378
Sydney, New South Wales 1350
+61293278487 (Phone)
+61280655905 (Fax)
HOME PAGE: http://independent.academia.edu/ShannTurnbull/CurriculumVitae
SKYPE: shann.turnbull
Sustainable Money Working Group ( email )
Holyoake House
Hanover Street
Manchester, M60 0AS
United Kingdom
Feedback to SSRN

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References:  53
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