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Capital Homesteading for Every Citizen
A Just Free Market Solution for Saving Social Security
by Norman G. Kurland, Dawn K. Brohawn, Michael D. Greaney
© 2004 Center for Economic and Social Justice. Published by Economic Justice Media. Paperback, 256 pages.
What if

. . . every man, woman and child in America could receive each year through a local bank $3,000 of “interest-free” credit to invest in our nation’s growth and new technologies?
. . . every citizen could accumulate tax-free over a lifetime a “capital homestead” of $200,000 that would pay an annual dividend income of $30,000 to meet his or her retirement needs?
. . . this could be done without using any taxpayer dollars and without taking away anyone’s wealth?

Impossible? If you share the growing concern that our Social Security and Medicare system may go bankrupt as millions of Baby Boomers start retiring; if you’re alarmed by the thousands of jobs lost when “productivity” rises; if you feel our democratic process is endangered when the majority of voters don’t vote because they’re tired of being sold more of the same . . . maybe it’s time to look at some fresh ideas.

Capital Homesteading for Every Citizen explains why America’s economy isn’t working the way it should. More important, this book shows how to fix the problems.

Others are focusing on redistributive tax and spending measures. Capital Homesteading uniquely pinpoints reforms to our money and credit system that, reinforced by a more simple and fair tax system, would stimulate sustainable, non-inflationary growth and create more jobs and new sources of income for the poor and middle class. These reforms, most significantly, would build a nation of owners — the original American Dream.
Beginning with reform of America’s Social Security system, this book proposes a visionary national program based on sound market concepts and universal moral principles. The authors describe how a national agenda of Capital Homesteading would re-activate the so-called “discount window,” a power possessed by America’s Federal Reserve System and most central banks throughout the world. Interest-free money (with competitive lender service fees) could be created through the Fed and its local member banks, disciplined by a “100% reserve requirement.” Real productive assets, not government debt, would back the U.S. dollar.

Capital Homesteading
contains the seeds of a new future for the world economy. It provides a positive answer to the dangers of globalization by building a market system that works for everyone, not just the few. It offers a free market means to prevent concentrations of wealth and economic power. It would thus reduce corruption in global capital markets while making the corporate sector and financial institutions more transparent and accountable to an expanding constituency of owners.

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This book also outlines economic empowerment applications that would fill the policy void in the War on Terrorism and current nation-building efforts in Iraq, the West Bank, Afghanistan, Chechnya, East Timor, Kashmir, Liberia and other global hot spots. Capital Homesteading offers the hard logic and practical tools that could be adapted by any country to build an effective economic democracy with a viable ownership stake for each person.

Capital Homesteading for Every Citizen puts its finger on the critical issue that all the politicians, economists and media pundits are missing. Will money power for producing future wealth remain in the hands of a small, nonaccountable elite? Or will it be put in the hands of every person —
as a new right of citizenship?
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Capital Homesteading for Every Citizen
A Just Free Market Solution for Saving Social Security
ISBN 0-944997-00-7
$18 per copy; members, $14.
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Make checks payable to: CESJ
P.O. Box 40711, Washington, DC 20016
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