Economics


THE UNIVERSAL ECONOMY UNIT VII: THE FINANCIAL WAR ENSLAVING AMERICA

“There’s class warfare, all right, but it’s my class, the rich class, that’s making war, and we’re winning.” – Warren Buffet – one the world’s 8 richest men whose combined net worth equals more than the bottom half (3.6 billion people) of all humanity.“What we are seeing now is a fight for what is going to be the rest of the 21st century by creating a new kind of class, a new class much like the invasions of Europe a thousand years ago. A thousand years ago, invaders from the north and from Italy would grab land and grab public utilities by military ...

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Freedom vs Conformity

“Little boxes on the hillsideLittle boxes made of ticky tackyLittle boxes, little boxes, little boxes all the same...”Little Boxes song by Pete SeegerAmericans frequently pontificate about freedom. Individual liberty is supposedly the foundation of the nation and the highest of aspirations. Yet in practice freedom is often restricted and subordinated to commercial and other interests. Oddly many people blindly accept these contradictions and the restrictions on their freedom.An example of this is the covenants imposed by Home Owner Associations or HOAs. ...

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Gender Economics

Linda Barrington will be the guest speaker on “GENDER ECONOMICS AND THE PAY GAP.” You are welcome to the meeting on Monday, July 9 at the YWCA at 613 Fifth Street, Wausau.Program starts at 6:30 p.m. This meeting is free and open to the public.Linda Barrington is the Associate Dean for Outreach and Sponsored Research in the ILR School at Cornell University. She is also the Executive Director of the Institute for Compensation Studies (ICS), an interdisciplinary initiative that analyzes, teaches, and communicates broadly about monetary and non-monetary rewards ...

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THE UNIVERSAL ECONOMY UNIT VI: WEALTH = (MATTER + ENERGY) X KNOWLEDGE

It is the laws of physics, and how well we understand and apply them, that determine the tangible, usable wealth of humanity. Money is but an aid or, at times, obstruction in the production and distribution of wealth. This is rarely understood by the world’s politicians who, all too often, are elected – and directed – by the self-serving interests of financial manipulators.An expanded definition of wealth seems in order:Wealth = (Matter + Energy) X KnowledgeWe know there are iron, aluminum, nickel, copper and chromium ores and coal deposits on Earth. In ...

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THE UNIVERSAL ECONOMY UNIT V: GOVERNMENT “DEBT” IS NOT GOVERNMENT DEBT

Words matter. When a person opens a $5000 savings account at a bank it paints one picture. But if one states that the bank has borrowed $5000 from a person and now is in debt to that person for $5000 plus interest, it paints quite another. It is the same thing, but one statement creates a feeling of safety and wellbeing while the other creates a sense of doubt and fear of loss.So it is with the misleading terms “deficit” and “debt” as applied to the U.S. federal budget. “Deficit” refers to the annual money created by the U.S. Treasury and Federal Reserve ...

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What Can One Person Do? A New Tactic for Change

We do not have a functioning democracy. Too often the will of the majority is ignored. The politicians and their big money donors do what they want. Money rules. Corporate lobbying trumps public opinion. Voters are apathetic. Crazy reactionaries succeed and common sense reforms go nowhere.Too often we organize, march, write letters, contact our legislators, sign petitions, seemingly to no avail. It is time progressives try new methods. We need a new protest tool that will demand attention. I believe we need to use our economic power as consumers to demand sensible ...

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THE UNIVERSAL ECONOMY UNIT IV: THE FOLLY OF THE “BALANCED BUDGET”

We’ve heard it a thousand times. . . “I have to balance my budget. Why shouldn’t the government?” I have to pay my bills. Why shouldn’t the government? Politicians of every stripe jump on board. “Government spending is out of control!” “The deficit is unsustainable!” “We’re mortgaging our children’s future!”But each of these statements is based on false or deliberately misleading premises regarding the monetary functioning of the U.S. Federal Government. Each assumes the government has no money of its own and must tax or borrow from the ...

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Fixing the National Debt with Better Alternatives

Government, like individuals, borrows money and has debt. Debt can be a problem if you have too much and can't make the payments. It can be a problem if you are using debt for the wrong reasons. Partying on the credit card is not good. Using debt to invest in your future (buying a house, starting a business, going to college) can be a wise choice. Unfortunately much of our federal spending is not spent wisely to build the public good or invest in our people's future.There are three major causes of federal debt: excessive military spending, excessive health care costs, ...

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THE UNIVERSAL ECONOMY UNIT III: SUMMER CAMP AND FIAT MONEY

 Imagine boy scouts at summer camp. They are living in the “Buffalo” cabin and “Sam” is their adult troop leader. Camp is fun, but there is much to be done to ensure the cabin functions smoothly. Floors swept, beds made, trash carried out, bathroom cleaned, food prepared, dishes washed, fire wood split and so on. Sam spends lots of time cajoling the scouts to do their chores.Tired of the “battle,” Sam decides to create a “money” system that allows his scouts to earn payment for doing their chores which can then be exchanged for things each boy ...

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UNIVERSAL BASIC INCOME… ARE WE READY FOR IT?

Universal Basic Income (UBI) is an idea that has been around for a while. With automation replacing blue-collar and white-collar jobs, UBI is needed. Forty-eight percent of Americans favor UBI.Universal Basic Income is a simple system where the government gives people a set amount of money each month. Would UBI replace the safety net? Many details would need to be worked out. The system gives an equalizing floor from which all people start.How much per month? Some say $1000 a month, some say more and some say less. Child allowance could be $250 or $300 each month. ...

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