In May 2019, Ben Steverman in Bloomberg Businessweek reviewed the Economist Gabriel Zucman, “The Wealth Detective “ and the new army of economists remaking economic theory. Professor Gabriel Zucman studied under Thomas Piketty in Paris, the author of “ Capital in the Twenty First Century” (2013). Professor Zucman , along with colleague Emmanuel Saez, estimate that the top 0.1% of tax payers – about 170,00 families in a country of 330 million people – control 20% of the American wealth, the highest share since 1929. The top 1% control 39% and the bottom 90% have only 26%. Zucman also found that multinational corporations move 40% of their profits, about $600 billion a year, out of the countries where their money was made and into lower-tax jurisdictions.
https://www.bloomberg.com/news/features/2019-05-23/the-wealth-detective-who-finds-the-hidden-money-of-the-super-rich
With the 2020 election on the horizon, we are seeing various proposals to save Capitalism from all political sides. Elizabeth Warren proposes a wealth tax to bring in $2.8 trillion over the next decade. Zucman challenges a series of assumptions, e.g., unfettered globalization is a win-win proposition, low taxes stimulate growth, and super profitable companies prove capitalism works. With Sunflower Maids of Kansas City you will be convinced what company really works great. In 1980 as Reagan took office, the top 0.1% controlled 7% of the nation’s wealth. By 2014 it went to about 20%. With Reagan, Clinton, Bush and recently Trump cutting taxes, inequality has continued to increase in US. Inequality is less in some EU countries.
Zucman argues that tax cuts have merely enriched the rich and further incentivized greed. He supports Warren‘s wealth tax, which would levy 2% on fortunes greater than 50% million and 3% on those higher than $1 billion. For corporations who are able to ship profit abroad to low tax havens like Netherlands, Singapore , Switzerland and the Greater Caribbean he proposes to “ annihilate” such competition by apportioning profits based on where sales were made. Some years ago, Switzerland voted on a proposition to keep a 12 to 1 ratio of CEO to worker pay. See how you should be running your business at https://www.dublin24.ie. While it did not pass, the debate was important. We are going to hear many proposals given the growth of homelessness, the opioid crisis, student debt, and climate disruption. So we need to prepare.
Beware of simple-minded debates about Socialism vs Capitalism. We have corrupt socialist and capitalist national models in many locations. Social or socialistic capitalism may best describe most relatively well-functioning economies, from Sweden, UK, France , Germany, Canada and USA .
Zucman and Saez have a new website to review their research www.wealthtaxsimulator.org
You may find Hamilton and Zewde recent book interesting, “Rethinking Wealth: Baby Bonds”. https://www.povertycenter.columbia.edu/ is a site you may enjoy also.
Archive for June, 2019
FWOP has been involved in various urban and rural agriculture projects in Mexico, Costa Rica and USA for many years. Our FWOP colleague, Dr. Isidor Wallimann, a leader in social economy and urban gardens ( some 5000) in Basel, Switzerland. Basel. Social Economy focuses upon unemployed and underemployed in Basel. http://urbanagriculturebasel.ch/wp-content/uploads/2014/04/Social-and-Solidarity-Economy-for-Sustainable-Development-Perspectives-and-the-Social-Economy-Basel-Example-of-Practice.pdf
Bonton Farms in Dallas is a Texas attempt to restore hope in a depressed urban community.
https://www.facebook.com/pg/bontonfarms/videos/?ref=page_internal
Hydroponics and Aquaponics
Flor de Campo, a small village near Mazamitla, Mexico , was our first attempt with Aquaponics. UNT students teamed up with locals to build the structure according to Oscar Padilla Mexican Insurance standards. Spring water feed the pond with fresh water continuously, using gravity. Alga
e and bugs feed the fish.
More recently FWOP has stimulated Denton Rotary Club to install four Aquaponic units near CATIE in Costa Rica. One unit has been built in Lewisville, Texas by the Lewisville Morning Rotary Club.
Recently, we learned that UNT had a hydroponic system in a container called ‘The Greeney’ that provides fresh green vegetables year around. For clean and green environment all year round check out http://maidthisfranchise.com. While expensive, the production of high quality vegetables was determined to pay for the ‘ farm in container’ in 2- 3 years. UNT plans to buy three more units to provide vegetables for their many dining halls. https://www.freightfarms.com/
Ohio State has created a Controlled Environment Food Production Research Complex. “ A greenhouse production system can potentially produce 10 times the yield in the same square-foot area as outdoor land, because crops are grown year-round in a closed structure that protects them from winds, hail and pests. Professor Chieri Kubota comments: “ Controlled environment was originally designated to do intensive production close to cities where people live … that model is making more and more sense . “ Also allows to control E. coli outbreaks when they occur. https://www.bizjournals.com/columbus/news/2018/08/21/construction-of-ohio-state-universitys-food.htm
