E From 4 Rights To 4 Economic Policies

Those who know my Concordian economics at times ask me, ‘Why is Concordian economics not a common topic of discussion yet?”

There are many answers, many reasons. The last one I have found is this: I have not yet explicitly linked the four economic rights and responsibilities of Concordian economics to their corresponding economic policies.

Let me try to do this now. The primary aim is to link the economy of Wall Street to the economy of Main Street.

Four Economic Rights

There are four factors of (modern) production: 1. Land and natural resources; 2. Money or financial capital; 3. Labor; and 4. Physical capital, as tools that make any task easier to accomplish.

As there are four factors of production, so there are four necessary and sufficient economic rights in Concordian economics. The corresponding rights are: 1. Right of access to land and natural resources; 2. Right of access to national credit, an entity whose value We the People create and on the basis of which we create money; 3. Right to the enjoyment of the fruits of our labor; 4. Right of enjoyment of the fruits of our property, especially as specified in the tools of production (capital). Each and every product of our agricultural, industrial, or commercial activity is a result of the amalgamation of these four economic rights.

Where do these rights come from? They are natural rights, which satisfy human needs; they come from our very nature as being human. We are not angels, therefore, we cannot do anything without land and natural resources; we cannot attempt any great socially constructive endeavor without money (conversely, let us think how much more difficult would life be without money); we cannot do anything without labor; we cannot do anything without tools, the result of our imagination and ingenuity. Without the enjoyment of these four rights, we cannot even bake our daily bread.

It so happens that Jesus’ prayer to Our Father encloses the totality of Concordian economic policy. In addition to the call for the exercise of these four economic rights, in response to the Mosaic seven-year jubilee, there is in Concordian monetary policy the call for the systematic cancellation of all debts every seven years.

Economic rights are explicitly the creators of property and implicitly they are the creators of property rights.

Rights Arise from Responsibilities

Being social human beings, we do not derive economic rights out of thin air but from a corresponding set of economic responsibilities: 1. The responsibility to pay taxes on the land and natural resources that we keep under our exclusive personal control—because taxes on land reduce the price of land by reducing its hoarding and thus making larger portions of it available to a larger number of people; 2. The responsibility to repay the loans that we receive through access to national credit—because repaying loans is not only a general responsibility, but fulfills the responsibility to restore the integrity of the pool of our national credit; repaying loans we also destroy money in circulation and thus we reduce the danger of inflation; 3. The responsibility to perform tasks required in the performance of wealth creation—because we thus establish an equivalence between the value of performance and the value of compensation for tasks performed; 4. The responsibility to respect the wealth of others—because that is the best legal assurance that our wealth will be respected.

A National Discussion

The day will come when economists, no longer concerned about being “pure” scientists, will seriously welcome the intervention of lawyers in understanding the ways society works. Then they will ask for a national discussion about the importance of economic rights and responsibilities.

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Disclosure: Carmine Gorga is president of The Somist Institute, a former Fulbright Scholar and a  more

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