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an undeserved air of legitimacy, I would consider that one factor my biggest stumbling block.
I know your question pertained to the economic system, yet I would say that propaganda enables and supports the manufacture of consent and serves as a means to manipulate the culture, frame all debates and ideas, filter certain information and highlight others, etc.
On the financial side, I would eliminate corporate person-hood, starting with adding the word "natural" before person, and then begin a movement to role-back corporate power and break-down massive conglomerates. That would, in effect, help to bring back some form of true competition and might help smaller businesses to thrive. Anything that would reverse the increasing and alarming Fascist influences and tighten the reigns on the incredible impact that the wealthy have on our system while hiding behind corporate veils, would be crucially important.
I would carefully consider a people's movement to change the current way that government is functioning. That would include potential socialization of key industries on which we all depend for our survival. If the people did want to revolt, outright, against the power grab by large corporations, not only does the law protect, (yet not indite and prosecute) corporations currently, it allows them to function so freely and without regulation that the people are treated to a far different form of justice when it comes to welfare, tax evasion, etc.
I would end most, if not all, of the current subsidies given freely in vast amounts to corporations and earmark those monies for a new area of re-localization. That would include incentives for small farms, with a push towards more progressive and eco-friendly methods of produce production from no-till to hydroponic. The energy savings would be great as local communities became more self-sufficient and less reliant on imported goods.
Energy, like blood and air for our bodies, is the most important factor in any economy, to me. These days, we stand on the brink of Peak Everything and if we continue at the current, industry-lobbied protectionist rate, many of us will no longer be able to afford what has become a necessity in modern life. Therefore, I would increase taxes on corporations and the wealthy and begin a new era with a short-term goal to drastically reduce energy needs via conservation and also create a strong imperative to begin a sweeping transition to alternative energy sources, which I now feel is practical and doable. If we have to install 100x100 miles of solar panels in the Southwest desert and connect it to the grid to take care of all of America's energy needs, then let's do it, even though that is just one method to consider. If the Pharaoh's could build pyramids for various reasons, we can take on a big project like this. Peak Oil, (and peak everything) requires us to either make a swift transition, (vested industries be damned) or we will find that most of us will become energy peasants who will no longer have affordable access to it. It is one way or the other.
Due to the incredible, (unprecedented) amount of wealth in this country, I would also consider a new, national dividend in the form of a negative income tax that would assure that all citizens are guaranteed a sustainable and decent ability to thrive. We simply have to take into account that inequity is not longer viable or acceptable and that all will benefit the more each of us benefits. Considering how much has been lost to off-shoring, outsourcing, insourcing from prison labor, increased productivity where one worker does the job of three, and the silent, yet growing increase and improvements in automation that continues to replace workers, it is time for the citizens of the nation to profit, individually, from the vast amount of wealth that has been created.
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