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Should the laborers, from the company president to the first-rung employees, of every new company own that company?

Can the struggle beteen Labor and Capital be stopped by Labor buying the Stock Shares in all new companies and corporations?

  1. According to the U.S. Constitution -- Congress and only Congress has the right to create the new money to finance anything.
  2. That right is infinite. Thus, Congress can create an infinite amount of money.
  3. Under U.S. laws, that new money can be put into the banking system through banks which have charters from the State or Federal government.
  4. That new money and the fruits of any venture growing out of that new money is not "owned" by anyone until it is used under some contract between (a) the issuing bank and the borrower and (b) the borrower and all employees of whatever company uses that money.
  5. Those contracts can contain the rules for each new venture.
  6. Those rules can stipulate the way Stock Shares of each venture would be completely turned over to workers in that company -- both managers and common laborers. For instance, the stock shares could be issued at an original (par) value of $1 / share. Every worker could thenceforth get one share of stock for every 10 dollars of wages. The wages in the companies could be regulated such that the highest paid worker (probably the President?) would get ten times the wages of the lowest paid employee. Other similar plans can easily be developed.
  7. Each company's charter would be an "Employee Ownership" vehicle so that the new ventures are "planned, built, owned and maintained by the employees".
  8. The government would own nothing -- the people would wind up with complete ownership of each venture -- all financed by Congress, in accordance with existing laws and democratic principles.
  9. The venture itself would be the collateral justifying the bank loan.
  10. No new laws are needed to put his plan into effect. Existing bank and contract laws can be used for each venture.
  11. There is no need for Investment bankers or other financial or insurance intermdiaries who tend to siphon off money from the company without creating any value
  12. In any event the banks should not be allowed to sell off any loans they issue. That will insure that they make only sensible loans.
  13. In any event -- the banks should operate on the equivalent of a 10-1 reserve requirement ratio. The natural downside leverage built into that system will make sure that banks focus on making sensible loans. See << Downside Leverage >> for an explanation.

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