Most people today assume that the only alternative to the wage-welfare systems of capitalism are the wage-welfare systems of socialism/communism (or some government redistribution-based hybrid of the two). How do you explain a new paradigm such as the “Just Third Way“ — a justice-based, free market, inclusive ownership system — in terms that anyone, from a child to a Ph.D. economist, can understand?
In under two minutes the animated video “People and Things” presents in Dr. Seuss-ian rhyme why every person needs to become an independent owner of productive capital. It points out the two basic ways people can earn an income, with their labor and/or their capital (the two productive factors in Louis Kelso’s “binary economics”). This video also warns that we can’t depend on jobs alone for our living, particularly when automation and artificial intelligence start destroying those jobs.
“People and Things” also answers in a few words the question of “Where will the money come from?” so that citizens with no savings or assets can buy shares of companies that use the new technologies.
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