Silver Lining - The Regulated Economy

The role of government in economic affairs being inescapable it will be our concern to describe an ideal role for government in regulating the economy. For one thing we can recognize the importance of having a national currency, the dollar, as opposed to each state producing its own, as was the case in the early years of the republic. The government issues the currency and accepts it as payment for taxes, which the government needs to fulfill its role in the overall economy. Interstate highways, national parks and wildlife preserves, national defense (not aggression), the power grids, and other functions that are most efficiently served by a central government, should be the extent of government participation in the economic affairs of the various states. But some regulation is necessary to ensure an "orderly" market.

The ultimate collapse of the present government will undoubtedly usher in a new era of States' Rights, and the American government of the future will be a model based on the experiences of the past 100 years. The mistakes of the past must not be repeated and the technology of the present day must be utilized to its fullest to ensure the best possible results in this endeavor.

The biggest changes I see are; the restoration of the US Constitution as the supreme law of the land and the repeal of the Seventeenth Amendment: Senators must no longer be elected to office but appointed by the governors of the respective states, thereby being subject to recall at any time they fail to live up to the responsibilities they assume in representing their constituencies, or bring disgrace to their persons, their states, and to the American people at large.

The Federal Reserve will be abolished and with it the enormous (illegal) debt it represents to the common weal. Elections will be held on the Internet and instead of an election day we will have an election week, to ensure that everyone has the opportunity to participate; eligibility will be simplified - if you have a Social Security number you're eligible! The census may also be taken on the Internet by counting active Social Security numbers. Both these latter changes will result in tremendous cost savings - and they are very do-able by virtue of secured sites.

The ideal government participation in the economy would encompass three things; to ensure a consistent and proper money supply to cover the trade of the entire nation; to regulate corporate activity in such manner that such activity not create unfair advantage, and to publish reliable data on various sectors of the economy. With the elimination of the illegal tax on wages and salaries, excess IRS staff could be reassigned to supplant the SEC (Securities and Exchange Commission) and report the true conditions (ownership, profitability, debt, etc.) of firms on the stock markets. It would have the same effect as the present audits conducted by the agency; random and unannounced audits would go a long way toward ensuring honesty and soundness of business firms in general. These are suggestions only; every safeguard is vulnerable to tampering or outright defeat, but installing regulations (term limits is a good one) that will aim at the enhancement of free domestic trade, counter the forces of political corruption, while still overseeing proper professional licensing and maintaining fair and equal labor standards.

The task appears enormous but not at all impossible. The reconstruction of the United States in societal, political, and economic terms must be carried out rationally, in non-partisan co-operation. No longer should we tolerate leaders who lust after world domination but those instead who seek to place this nation in concert with the other nations of the world. Regulation of the economy is essential to these aims and must be a two-way street: regulation of the government as well as by the government.

Next: Banks and Credit