St. Thomas Law Review
First Page
538
Document Type
Article
Abstract
Based on "binary economics" this essay suggests that one overlooked way to empower economically subordinated people in a market economy is to universalize the right to acquire capital with the earnings of capital. This right is rarely specifically identified or discussed in law schools. Although ostensibly open to all people, as a practical matter the right to aquire with the earnings of capital is presently concentrated primarily in less than 5% of the population.' The concentration of the right to acquire capital with the earnings of capital helps to explain why poor people remain subordinated. Foundationally distinct from classical, neoclassical, Keynesian, post-Keynesian, monetarist, and socialist economics, binary economics specifically offers a unique explanation for the persistence of poverty and the unutilized productive capacity to eliminate it. Compared to right-wing, left-wing, and mixed economic strategies, binary economics reveals a voluntary, market-based strategy for producing much greater and more broadly shared abundance without redistribution. These strategies offer help to empower and liberate people who are presently economically subordinated. Based on objective standards of (1) reasonable, workable assumptions; (2) internal consistency; and (3) plausible descriptions, predictions, and prescriptions, binary economics should be taught wherever right-wing, left-wing, and mixed centrist approaches are taught. The presentation concludes that advocates for poor and working people should include binary economics in their analysis and binary strategies among their proposals for reform.
Recommended Citation
Robert Ashford,
Empowering People with the Right to Acquire Capital with the Earning of Capital: A Binary Approach to the Economic Empowerment of Subordinated People,
20
St. Thomas L. Rev.
538
(2008).
Available at:
https://scholarship.stu.edu/stlr/vol20/iss3/7