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BINARY ECONOMIC MODES FOR THE PRIVATIZATION OF PUBLIC ASSETS

By Jerry N. Gauche

Copyright © 2000 by By Jerry N. Gauche

Abstract

Binary economics offers a new paradigm for economic growth in which the supply and demand sides of the economy are linked through broad-based capital ownership. The recent worldwide pursuit of economic efficiency through the privatization of public assets offers significant opportunities for improving the standard of living in countries that emphasize broad ownership of privatized assets. The author discusses a number of practical tools for privatizing assets in a way that promotes economic growth and improved standards of living.

Introduction

This article describes a practical approach to privatization, which incorporates the principles of binary economics.

In the privatization of public assets binary economics argues that (1) it matters who owns the privatized capital, (2) access to capital is limited by risk, and (3) capital in concentrations producing income that is not consumed retards economic growth. Consumer Stock Ownership Plans and General Stock Ownership Plans provide means for

rapidly broadening increasing per capita

capital income

ownership among the economically disenfranchised,

and

accelerating

economic

growth.

Lessons

from

the

pursuit of General Stock Ownership (1) political leaders cannot look to

Corporations

(GSOCs) in

the United

conventional

institutions

to support

States include initiatives for

broadening capital ownership, (2) eligibility broadened capital ownership can be vexing,

for participation (3) regulation of

in programs broadly held

promoting enterprises

may raise conflicts between the citizens’ demand for income and tax revenue, and (4) broadly held enterprises can be perceived as

the state’s

demand for

a threat to

the political

status quo. Notwithstanding these issues, the achieving widespread capital ownership through

GSOC remains an effective means of the privatizing of public assets without

confiscating

the

property

of

the

wealthy

and

without

creating

a

monolithic

socialist

state.

The binary approach should be of particular interest to socio-economists because it allows for distribution of income on market principles. Since binary principles are not

widely known

in

the basics.

It

the socio-economic community, the article begins with then points out the unique opportunity presented

a brief review of by the present

privatization movement. Finally, combined with privatization.

the

article

describes

the

binary

strategies

that

might

be

1

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