Binary Economics

Book excerpt: Binary Economics presents a new paradigm which founds a practical new economics and a unifying new politics that enable people to understand and realize their essential rights and responsibilities in a market economy. This paradigm recognizes that capital has a potent productive and distributive relationship to growth, and by democratically extending the efficient means to acquire capital to all people using the earnings of capital on market principles, binary economics offers many important benefits beyond those provided by conventional economics. The authors present this concept as new hope for solving seemingly intractable problems of economic efficiency, distribution, and justice not solved by conventional economic theories and practices, while enabling people to understand and realize their essential rights and responsibilities in a market economy. The binary paradigm allows cooperation with governments to make modest reforms to existing capital markets so that all people can acquire capital using the earnings of capital and offering the market foundation for many important benefits, including substantial, sustainable growth; more equal opportunity and social justice; increased earning power for the poor, working and middle class people; a greener environment; individual autonomy; strong families and communities; strengthened democracy; and voluntary control of population levels.