{"id":363827,"date":"2018-06-02T20:40:37","date_gmt":"2018-06-02T19:40:37","guid":{"rendered":"http:\/\/rinf.com\/alt-news\/newswire\/shared-capitalism-dissident-voice\/"},"modified":"2018-06-02T20:40:37","modified_gmt":"2018-06-02T19:40:37","slug":"shared-capitalism-dissident-voice","status":"publish","type":"post","link":"http:\/\/rinf.com\/alt-news\/newswire\/shared-capitalism-dissident-voice\/","title":{"rendered":"Shared Capitalism | Dissident Voice"},"content":{"rendered":"<div id=\"post-80571\">\n<p class=\"subhead\">Part 8 of 10 Part Series: Economic Sanity and Alternative Economic Systems<\/p>\n<p class=\"byline\">by Gary Brumback \/ June 1st, 2018<\/p>\n<div class=\"entry\">\n<p>Jeff Gates wrote a book jam packed with ideas about what he calls \u201cshared capitalism for the twenty-first century.\u201d<sup><\/sup> His is a decidedly populist view, not surprising since he was counsel to the U.S. Senate Finance Committee (1980-87), working with Senator Russell Long of Louisiana, son of populist governor and U.S. Senator Huey P. Long. In this role, Gates crafted federal law on employee stock ownership plans (ESOPs) and pension plans.<\/p>\n<p>Capitalism creates financial capital, not capitalists, he notes. Moreover, most financial capital is held by institutional investors, the absentee owners of public corporations. This, he says, creates a \u201cdetached and disconnected capitalism largely on automatic\u201d with investment decisions devoid of longer-term concerns, including the costs of externalization.<\/p>\n<p>Unshared capitalism, while made to order by the corpocracy, is totally unfit for a democracy. His solution is to make widespread ownership a specific goal of national economic policy. His opinion that people take responsibility for what they own resonates with me, having watched for two decades party-going renters misbehave and scar property in an ocean-side condominium where my wife and I owned and never rented a unit.<\/p>\n<p>Achieving inclusive ownership on a national scale will take, he believes, a political era like the progressives and populists of&#8230;<\/p>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/dissidentvoice.org\/2018\/06\/shared-capitalism\/\">Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Part 8 of 10 Part Series: Economic Sanity and Alternative Economic Systems by Gary Brumback \/ June 1st, 2018 Jeff Gates wrote a book jam packed with ideas about what he calls \u201cshared capitalism for the twenty-first century.\u201d His is a decidedly populist view, not surprising since he was counsel to the U.S. Senate Finance [&hellip;]<\/p>\n","protected":false},"author":2525,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[519],"tags":[],"class_list":{"0":"post-363827","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-newswire"},"_links":{"self":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/363827","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/users\/2525"}],"replies":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/comments?post=363827"}],"version-history":[{"count":0,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/363827\/revisions"}],"wp:attachment":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/media?parent=363827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/categories?post=363827"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/tags?post=363827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}