Just Third Way

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Discussion

As proposed by the Binary Economics movement and the Center_for_Economic_and_Social_Justice:

" A free market system that economically empowers all individuals and families through the democratization of money and credit for new production, with universal access to direct ownership of income-producing capital. This socio-economic paradigm offers the logical "third alternative" to the two predominant socio-economic paradigms today - capitalism and socialism/communism.

In capitalism, economic power and private ownership of capital are concentrated in a small percentage of the population (i.e., a few own). In socialism/communism, the state owns and/or controls productive capital (i.e., nobody owns). In the "Just Third Way," widespread dispersion of capital ownership functions as the economic check against the potential for corruption and abuse, including by the government. Restoration of the full rights of property and extension of private property to every individual, serves as the basis for economic democracy, the necessary foundation for effective political democracy.

The "Just Third Way" differs markedly from other versions of the "Third Way," such as the version espoused by Bill Clinton and Tony Blair, which attempts to give moral legitimacy to the Wall Street capitalist approach to economic globalization and blends political democracy with economic plutocracy.

The new paradigm views as a virtue healthy self-interest (i.e., where individual good is directed toward, or in harmony with, the common good). It views greed and envy, on the other hand, as vices, both destructive of a moral and just society. In contrast to capitalism which institutionalizes greed, or socialism which institutionalizes envy, the "Just Third Way" institutionalizes justice." (http://www.cesj.org/definitions/glossary.html)