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Binary Economics – the new paradigm


Robert Ashford & Rodney Shakespeare

Binary economics proposes a secure income for all individuals by using state-issued interest-free money to extend individual capital ownership to 100% of the population. In particular, it also contains a new understanding of how wealth is created and the means of achieving a green growth. In binary economics, the justice creates the efficiency (in contrast to conventional economics in which justice and efficiency are incompatible).

Identifying the biggest failure of the present unfree market finance capitalist system as being the inability to spread capital ownership on market principles, binary economics provides detailed mechanisms for correcting the failure. Very generally, those mechanisms are extensions and modifications (plus safeguards against abuse) of existing ESOP mechanisms except that anyone – in work, out of work, ill, retired, caring or a baby – can, on market principles, over time, come to substantial ownership of productive capital paying out a substantial income. As a large percentage of the population come to such ownership, there are important benefits going far beyond those provided by conventional economics. They include:–

• Substantial, sustainable growth
• More equal opportunity together with social and economic justice
• Increasing earning power for poor, working and middle class people
• A greener environment.

The benefits also provide the economic foundation for:–

• Individual autonomy
• Strong families and communities
• Strengthened democracy
• Voluntary control of population levels

At the heart of binary economics is the understanding that not only labour but capital, too, physically produces wealth. Thus the binary concept of productiveness enables understanding of the physical contributions of labour and capital to wealth creation. From that understanding follows the recognition that, if market efficiency is to be upheld, everybody must have substantial capital ownership. Not only is interest-free money used to ensure that ownership but also there are modifications of existing practice to provide something that the poor do not usually have, namely, collateral. The modifications result in capital credit insurance being available if required for a particular investment situation.

Binary economics is a fresh, modern paradigmatic way of understanding reality which founds a new economics, a new politics and a new law.

Binary Economics
The New Paradigm
by Robert Ashford and Rodney Shakespeare

Published by
The University Press of America

ISBN 0-7618-1320-9 (hardback)
ISBN 0-7618-1321-7 (paperback)

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