Economic Democracy: a Grand Strategy for World Peace and Prosperity, 2nd Edition 2nd edition

The evolution from plunder by raids to plunder by trade began 800 to 1,000 years ago in the Free Cities of Europe. As those cities evolved into nations and those nations into empires, plunder by trade was plunder by both raids and trade was practiced. Plunder by trade has been the dominant feature of world trade since WWII. But the developing world is now aware and that structure of world trade may soon be history.

In parallel those same 700 plus years, they established capitalism. Those property rights laws were little more than the aristocratic system (exclusive title to nature's resources and technologies) hiding under benign names. Identical to aristocracy, capitalism's property rights laws laid claim to, or wasted, at least half the wealth produced.

Impoverished nations poised to take control of their resources and destiny threatens to collapse the plunder by trade structure. Such a collapse of trade norms will shatter the property rights law structure within capitalism's internal economies.

That would be the opportune moment to replace monopoly capitalism's property rights laws with Henry George's economic principles which have the potential of providing a quality life for all within 50 years, and all while reducing employed labor time outside the home to 2 to 3 days per week.

Once Henry George's principles have been applied to an economically viable nation or region, the classics on economics, reverently taught in today's classroom, will stand exposed as justifications for the unequal and unjust property rights laws put in place the past 700 years, not philosophies for efficient economic systems.

In a properly established banking system, through adjustments in required reserves rather than changing interest rates, there need be no inflations or deflations. Created debt-free money can build most infrastructure, increasing required reserves in step with that money creation maintains a stable money supply.

That proper banking structure can stop an economic collapse in its tracks. It can also rapidly industrialize undeveloped regions of the world. Along with eliminating all other monopolies it can, as addressed above, reduce the workweek to 2 to 3 days per week with no loss of food, fiber, or shelter. World poverty can be eliminated in 10 years and a quality life for all can be attained in 50 years