LibertyArchives3's video: Webster Tarpley: How to rebuild the economy and increase the standard of living

Webster Tarpley explains the self-evident plan for the economic reconstruction and development of the U.S. economy and, indeed, the world economy. The basic principles of this plan can, and should be adopted by every developed country on Earth or, even better, by a cooperating group of developed countries. In any case, the United States, still being the prime economy in the world, are key here. REGULATE FINANCE CAPITAL. Deregulated finance capital has turned the financial markets into a casino, and the real economy into a pool of collateral to back up gamed-up speculation. It has, in the process, deindustrialized and gutted the industrial economies of North America and Europe. It has also imposed the unbearable burden of floating exchange rates, high-interest petrodollars and speculative commodity market rollercoasters on the Developing World. And, it has, from the late 90s onward, created an ever expanding quadrillion-dollar global bubble of toxic debt. NATIONALIZE THE CENTRAL BANK. In a Republic, the issuance and regulation of currency is a public function, meant to ensure that the circulation of currency, and the amount in circulation, will allow for widespread economic activity and development, and for ensuing decentralized prosperity in a middle class based economy. The power to issue currency is not a power to be privatized into the hands of private houses so they can play Monopoly. INVEST AND LOAN YOUR WAY INTO RECOVERY AND DEVELOPMENT. Now that public credit is no longer being used to back up speculative casino gambling, you can use it to fund economically useful projects that will create employment and economic development. So, you invest in great infrastructural projects and public works – you build useful infrastructure, and you rebuild devolute, crumbling structures. You also fund scientific and technological development in essential areas such as energy, health, water availability, and space exploration. These investments will of course pay for themselves. They'll develop the economy, enable the flourishing of widespread economic activity, and set the stage for further developments. In all this, they'll also create mass employment and an expansion of consumer spending and investment. You also issue credit for accessible public loans to enterprises, industrial corporations and firms who are interested in going into widespread industrial production and the production of tangible goods, and also to companies, entrepreneurs and families who want to create businesses, farms, factories and manufactures, R&D projects, etc. REINDUSTRIALIZE. From doing the above, you reindustrialize the economy, and you also go to the point where you transform it into an high intensity, industrial-production based economy. And, you also come near reaching full employment. AIM FOR A HIGH WAGE, MIDDLE CLASS ECONOMY. A real economy, with real prosperity, implies the vast majority of the population is middle class and enjoys a high standard of living. This requires the average salaried worker to be a skilled, high-wage earner working a highly productive job, being or becoming middle class and having enough capital to live comfortably, and to spend and invest. It's as simple as that. And, it's actually how the U.S. economy developed from the New Deal and World War II onward – until it was essentially degraded and crippled by finance capital. HELP THE DEVELOPING WORLD DO THE SAME. The basic idea is, you use your own economic development to help these countries develop, modernize, industrialize. To do this, you need to let go of, or at least declare a moratorium on, the death burden of Third World debt – most of that's bogus anyway. You also need to put an halt to the constant oligarchic destabilization and pillaging of those countries. Once you've done that, you then sell those 3/4 of the world infrastructure, technology and expertise. Why not think of resources-for-infrastructure deals? AIM FOR A MULTILATERAL WORLD LAND BRIDGE, a multilateral and truly effective network of transport corridors linking all the continents and, in that, stretching all across coastal and interior areas to reach all relevant commercial hubs, urban centers, extractive and productive hubs. HIGH-EFFICIENCY, ABUNDANT, CLEAN ENERGY is essential. In fact, you'll need energy sources that will be extremely cheap and virtually inexhaustible (nowadays, this means fusion power) if you want to have a proper 21st century industrial civilization – and, if you want to end world poverty and aim for space. AIM FOR SPACE. It is our destiny as a species to spread out all across the Universe – and, it also makes good economic sense. Can you imagine the spectacular enterprises and the myriads of highly paid, highly skilled jobs you'll need to go to space in this century? And, at a later stage, to travel the galaxies, terraform planets and create extra-Terran human planets? --- This video is made from excerpts of a longer Webster Tarpley interview.