AARP (American Association of Retired Persons), 132
Absurd tax (Smith), 52
Acid rain, 99
Adjacent possible, 120–121
The Age of Reason (Paine), 8
Aggregate demand, 88–89
Agrarian Justice (Paine), 8, 70
pre-distribution in, 126
Zobel v. Williams and, 123–124
Alaska Permanent Fund, 69–77
The American Crisis (Paine), 8
Appleby, Joyce, 25
Apple Computers, 25–26
Atmospheric carbon fees, 94
Australia, carbon taxing in, 114
Average Is Over (Cowen), 135
Axtell, Robert, 31–33
Baker v. Carr, 123
Banks
co-owned wealth and, 88
fractional reserve banking and, 54, 90
Glass-Steagall Act of 1933 and, 54–55
Barnes, Leo, 34–35
Bell curve, 30–31
Bernanke, Ben, 91–92
Biden, Joe, 21
Bismarck, Otto von, 37
Bollier, David, 62
Bonds. See Stocks and bonds
Boucher, Rick, 109–110
Brazil, cash payment program in, 131
Bristol Bay, Inc., 70
Buffet, Warren, 49
Burtraw, Dallas, 64
Bush, George H. W., 99
California, climate dividends in, 117–118
California Air Resources Board (CARB), 117–118
California Public Utilities Commission (CPUC), 117–118
Cantwell-Collins Act, 142
Cap-and-dividend system, 105–107
legislation on, 109–110
property income and, 116–117
Cap-and-giveaway system, 105–107
Cap-and-trade system. See also Carbon capping
in California, 117–118
Clean Air Act creating, 99
climate change and, 99–100
labor unions and, 131–132
offsets in, 104–105
Capital gains, 47
Capitalism
creative destruction and, 120
everyone-gets-a-share capitalism, 3–4, 42, 126
types of income and, 27–28
winner-take-all capitalism, 3, 33–34
Carbon capping, 97–118
European carbon trading system, 99, 104–105
Carbon dioxide
carbon capping, 97–118
carbon taxing, 113–116
environmental movement and, 135–136
pollution permits, 93
Carbon Limits and Energy for America’s Renewal (CLEAR) Act, 142
Carbon taxing, 113–116
Citizen’s income, 79–80
Civil War, debt-free money distribution and, 91–92
Clean Air Act, 99
Climate change, 99–100
Coal-burning power plants, 99
Coase, Ronald, 98–99
Collective bargaining, 19
Collins, Chuck, 33
Collins, Susan, 110
Commercial banks. See banks Committee on Economic Security (FDR), 41–42
Common Assets Trust in Vermont, 127–128
Common Sense (Paine), 7–8
Competition and monopolies, 51–52
Co-owned wealth. See also Dividends; Rent
adjacent possible and, 121
audit of, 62
benefits, entitlement to, 62
components of, 60–61
defined, 11
at economy-wide level, 140–141
externalities and, 64
guidelines for creating, 89–92
management of, 62
mental ideas and, 122–127
one person, one share, 123–124
political environment and, 120
potential dividends and, 139–146
pre-distribution and, 125–127
quantity of assets needed for, 93–95
shared wealth dividends, 124–125
specific assets and, 141–146
user fees for, 85–86
Copyrights, rent from, 144
Cowen, Tyler, 135
Creative destruction, 120
Credo, 45
Crisis
preparing for, 121–127
to-do lists and preparing for, 127–131
Currency trading, 92
Dales, John, 98
Darwin, Charles, 120
Debt
fractional reserve banking and, 90
leverage, 47
Debt-free money distribution, 90–91
Lincoln, Abraham and, 91
Defined-benefits pensions, 123
Deindustrialization, 17
Dell Computers, 25–26
Democratic Congressional Campaign Committee, 109
Democrats and direct spending, 22
The Depression and the Townsend Plan, 133–134
Deregulation, 21
Derivatives, potential revenue from transaction fees, 143
Deunionization, 18–19
Distribution of wealth, 14
Dividends, 9–10. See also Alaska model
cap-and-dividend system, 105–107
carbon taxing and, 115
from electromagnetic spectrum, 145
Europe, plans in, 129–130
from intellectual property rights, 144
offshoots and, 75
perceptual advantage of, 77
potential dividends and co-owned wealth, 139–146
practical application of, 87–89
sources of money for, 93–94
for sustaining middle class, 75–76
universal dividend systems, 73–74
wind energy dividends in Oregon, 128
Dole, Bob, 79
Earned Income Tax Credit (EITC), 81
Earth Day, 134
“The Economic Equivalent of War” (Barnes), 34–35
Economic Possibilities for Our Grandchildren (Keynes), 135–136
Economic stimulus package, 37
The Economist on robots, 26
80/20 rule, 30–31
Eldredge, Niles, 120
El Paso Natural Gas, 102
Employee stock ownership plans (ESOPs), 81–82
Employment. See Jobs; Unemployment
Energy and Commerce Committee, 109
England, textile machinery in, 18
Environmental Defense Fund, 99
Environmental movement, 134–135
Epstein, Joshua, 31–33
Equity leverage, 47–48
European carbon trading system, 99, 104–105
European Union (EU)
universal guaranteed income ideas in, 129–130
value added taxes (VATs) and, 140–141
Euthanasia of the rentier, 56
Everyone-gets-a-share capitalism, 3–4, 42, 126
recycled rent compared, 60
Extreme inequality, 33–34
ExxonMobil, 102
Facebook, 48
Fair market value, 52
Fallacy of composition, 24–25
Family Assistance Plan, 80–81
Federal Reserve
on new money creation, 144
quantitative easing, 22
shared market economy and, 83
FedEx, 26
Fee and dividend program, 115
Financial derivatives, global value of, 57
Financial infrastructure. See also Banks; Stocks and bonds
as co-owned wealth, 61
rent from, 142–145
Financial leverage, 47–48
Financial Times (Kay), 53
Financial transaction taxes, 143
Fisher, Irving, 91
Ford Motor Company, 18
Foreign Affairs, 130–131
Foreign exchange transitions, value of, 57
Foreign manufacturing, 16
Fossil fuels, 115–116
401(k) plans, 123
Foxconn, 25
Fractional reserve banking, 54, 90
Friedman, Milton, 80–81, 85–87, 91, 119
Fuller, Buckminster, 66
Future scenarios, 135–136
Galbraith, John Kenneth, 34, 80
General Motors, jobs at, 23
GI Bill, 16
Glass-Steagall Act of 1933, 54–55
Globalization, 17
Global Warming Solutions, 117
God Bless You, Mr. Rosewater (Vonnegut), 45, 46
Google, 26
Gore, Al, 100
Gould, Stephen Jay, 120
Government. See also Social insurance
nonlabor income and, 42
price-setting and, 63–64
recycled rent and, 66
sustainable purchasing by, 37
Green jobs, recommendations for, 21
Guaranteed minimum income, 80–81
Hacker, Jacob, 125
Hannity, Sean, 75
Hansen, James, 115
Health care. See also Medicare
rent and, 53–54
Heintz, James, 143
Hewlett-Packard, 25–26
HFC-23, 105
Hoover Vacuum Cleaner company, 26
Hussein, Saddam, 130
Hydraulic fracturing, 115
IBM, jobs at, 23
Immigration, 16
Income. See also Nonlabor income
even flow of, 35–36
guaranteed minimum income, 80–81
pipes for delivering, 36
privileges, rent and income from, 52–53
Income taxation. See Taxation
Incremental possible, 121
India and HFC-23, 105
Industrialization, 16
Inequality, spiral of, 32–33
Inflation and debt-free money distribution, 91
Innovation, 25–26
Insourcing, 26–27
Intel, 25–26
Intellectual property rights
dividends from, 144
protection of, 94
Internalizing externalities, 63
Investment banks, 54–55
Iraq, 130
Japan and money distribution, 92
Jevons, William Stanley, 116
Jevons Paradox, 116
Jobs, 22–24. See also Labor unions; Unemployment
top ten growth in, 23
work hours, decreasing, 95
Just Give Money to the Poor, 131
Kauffman, Stuart, 120
Kay, John, 53
Kelso, Louis, 81–82
Kerry, John, 110
Keynes, John Maynard, 56, 135–136
Keystone pipeline, 135
Kyoto Protocol, 99–100, 104–105
Labor unions, 131
build-and-join movements and, 131–132
and cap-and-trade system, 131–132
deunionization, 18–19
Landrieu, Mary, 130
Lanier, Jaron, 128–129
Lemann, Nicholas, 134
Lieberman, Joe, 100
Long, Huey, 134
Madison, James, 15
Market economies, 30–32
Marx, Karl, 51
McCain, John, 100
McGovern, George, 80
Meadows, Donella, 29
Means testing, 41
Medicare, 19
drug prices and, 54
individual/employer contributions to, 84
privatization of, 21
voucher system and, 39
Microsoft, 48–49
descent of, 19–20
mass middle class, 15–16
nonlabor income and, 27–28
Minerals, rent from, 145
Money. See New money Monopoly game, 4, 67, 91
Monopoly profits and rent, 51–52
Multistakeholder equilibrium, 7
Murkowski, Lisa, 130
Murphey, Dwight, 82–83
Mutual funds, 83
National Football league, 126
National Fund, 9
Natural gas, 115
Natural resources
dividends and countries with, 130–131
resource curse and, 130–131
Natural Resources Defense Council, 99–100
Need-based distribution, 83–84
Negative income tax, 80–81
New money, 144
Federal Reserve on creating, 144
fees for creating, 94
issuing, 91–92
Nixon, Richard, 34, 80–81, 134
Nonlabor income, 27–28
Alaska model and, 74
citizen’s income, 79–80
guaranteed minimum income, 80–81
pre-distribution and, 125–126
shared ownership and, 86–87
universal stock ownership, 81–83
work and, 122–123
North Carolina Cherokees, plan by, 128
Nurses, 23–24
Obama, Barack, 21
in 2008 campaign, 107–108
and carbon capping legislation, 110
economic stimulus package, 37
health care reforms and, 54
payroll tax credit and, 77
Occupy Wall Street, 13–14
Offsets to carbon capping, 103–105
Oil. See also Alaska model
dividends in countries with, 130
Oregon, wind energy dividends in, 128
O’Reilly, Bill, 86
Organization for Economic Cooperation and Development, 95
Orszag, Peter, 102
Outsourcing, 16–17
Paine, Thomas, 1, 3, 7–9, 39, 70, 137
Pareto, Vilfredo, 30–31
Parijs, Philippe van, 130
Patents, rent from, 144
Peabody Energy, 102
Pelosi, Nancy, 109
Pensions
as deferred wage, 27
defined-benefits pensions, 123
Perkins, Frances, 38
Pitt, William, 8
Pollin, Robert, 143
Pollution. See also Carbon capping
carbon pollution permits, 93
co-owned wealth and, 88
externalities and, 63
Pollution, Property & Prices (Dales), 98
Poverty
Alaska model and, 74
job training and, 25
Powell, Colin, 130
Power law, 30–31
Pragmatism, 121
Pre-distribution of wealth, 125–127
Price-setting, 63–64
Private wealth, 49
Privileges, rent and income from, 52–53
“The Problem of Social Cost” (Coase), 98–99
Progress and Poverty (George), 51
Property rights. See also Intellectual property rights
externalities and, 98–99
Paine, Thomas on, 8
Punctuated equilibrium, 120
Quantitative easing, 22
Reagan, Ronald, 16
Recession, stimulus and, 22
Recycled rent, 43, 59–68. See also Alaska model
cap-and-dividend system and, 106
Redistribution of wealth, 86, 125–127
Rent. See also Extracted rent; Recycled rent
from air, 142
criteria for choosing assets for, 139–140
from electromagnetic spectrum, 145
from financial infrastructure, 142–145
from intellectual property rights, 144
from Internet, 128–129, 145–146
from minerals, 145
special interests and, 53
Rentiers
Keynes, John Maynard on, 135–136
supply and demand from, 56–57
Republicans, recommendations of, 21
Resource curse, 130–131
Retirement savings, 20–21. See also Pensions
recommendations for, 21
Ricardo, David, 17
The Rights of Man (Paine), 8
Robespierre, 8
Robots, 25–26
Romney, Mitt, 39
Roosevelt, Franklin D., 38–39, 40, 41–42
Rowe, Jonathan, 62
Salaries. See Wages
Samuelson, Paul, 80
Schwarzenegger, Arnold, 117
Self-reinforcing feedback, 32–33
Seniority and jobs, 23
Shared market economy, 82–83
Shared wealth. See also Co-owned wealth
dividends from, 124–125
Silicon Valley, 25
Simon, Herbert, 49
Simons, Henry, 91
Skocpol, Theda, 110–112
Social insurance, 37–39. See also Medicare; Social Security
achievements of, 87–88
lessons of, 40–42
shared wealth dividends and, 124–125
universality and, 40–41
as deferred wage, 27
dividends connected to, 87–88
growth of, 41–42
individual/employer contributions to, 84
privatization of, 21
Social Security Act, 38–40
South Africa, 131
Sovereign wealth funds, 129
Spectrum use, 94
Sports industry, 126
Springsteen, Bruce, 13
Stiglitz, Joseph, 55–56
Stocks and bonds. See also Universal stock ownership
employee stock ownership plans (ESOPs), 81–82
potential revenue from transaction fees, 143
stock offers, 46
Student loans, 21
Suarez Industries, 26
Sugarscape, 31
Sulfur dioxide emissions, 99
Surplus production capacity, 7
Switzerland, 129
Systems, defined, 10
Taxation
absurd tax (Smith), 52
carbon taxing, 113–115
of co-owned wealth, 64
financial transaction taxes, 143
negative income tax, 80–81
as political war zone, 85
redistributory schemes and, 86
rent and, 51
value added taxes (VATs), 140–141
Tax credits, 77
Tax cuts, 21
Republicans and, 22
Teachers, 23–24
Theobald, Robert, 80
Timber, rent from, 145
Tobin, James, 80
Tocqueville, Alexis de, 16
Townsend, Francis, 132–133
Townsend Plan, 133–134
Trademarks, rent from, 144
Transformative ideas, 127
Turner, Lord Adair, 91–92
Unemployment
insurance, 19
job training and, 25
Roosevelt, Franklin D. and, 38–39
Unions. See Labor unions
Universal dividend systems, 73–74
Universal guaranteed income, 129–130
Universality and social insurance, 40–41
Universal stock ownership, 81–83
argument against, 84
U.S. Bureau of Economic Analysis valuation method, 145
U.S. Climate Action Partnership (USCAP), 100, 108, 110
U.S. Constitution and monetary systems, 89–90
U.S. Department of Commerce on intellectual property revenue, 144
U.S. Labor Department list on fastest-growing occupations, 23
U.S. Supreme Court
Alaska model and, 72
one person, one share idea and, 123–124
User fees and co-owned wealth, 85–86
Utilities and sulfur cap-and-trade program, 99
Value added taxes (VATs), 140–141
Veblen, Thorstein, 47
Vermont, 127–128
Von Mises, Ludwig, 82
Wages
pensions as deferred wages, 27
shared wealth dividends and, 125
squeeze on, 17
Wallace, Alfred Russel, 120
Warren, Elizabeth, 59
Waxman, Henry, 108–110
Waxman-Markey bill, 108–109
Wealth of the whole, 61
White House Task Force on the Middle Class, 21
Wind energy dividends in Oregon, 128
Winner-take-all capitalism, 3, 33–34
Wolff, Edward N., 14
Working Assets, 45
World War II, 16
Zobel v. Williams, 123–124
Zuckerberg, Mark, 48