The Just Third Way
In Four Easy Pieces
1........Dignity and empowerment begins with the human person, not any institution. Social justice obligates each person to work with others to perfect the social order to support the dignity and empowerment of every person.
2........Binary Economics: The two interdependent factors of production are "Labor" (all human inputs) and "Capital" (all non-human inputs). The two legitimate ways to produce wealth and be entitled to the incomes produced, are through the contribution of one's labor and the contribution of one's capital. The relative value of these contributions is determined by free, open and anti-monopolistic markets -- which requires equal access to capital ownership.
3........The three essential principles of economic justice:
1) the principle of participation
2) the principle of distribution, and
3) the principle of harmony (what Kelso and Adler referred to as the "principle of limitation")
4........The four pillars of a just free market system:
1) limited economic power of the state
2) the full rights of private property
3) free, open and anti-monopolistic markets
4) universal access to capital ownership