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COG
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Homestead Discussion |
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[Date Prev][Date Next][Thread Prev][Thread Next][Date Index][Thread Index] HOMESTEAD: Re:Updated request to Ellerman and Turnbull re: response to Turnbull's proposal to World Bank and Ellerman involvement
Shann and David: Deb " Shann Turnbull developed another proposal for using central banks to broaden ownership for the May 2001 COG meeting. He also presented it to the President of the World Bank He explains how client countries could establish self-financing economic development on a democratic basis consistent with the mission of COG and that of the World Bank to "eliminate poverty" and provided a basis for terminating the need for the World Bank and other international lending institutions when foreign exchange was not required in a development project./28 28/ "The Use of Central Banks to Spread Ownership", http://papers.ssrn.com/sol3/papers.cfm?abstract_id=277508" I did not include the information about the actions of Ellerman and the Pres. of the World Bank because on this deadline I do not have time to vet them with the other sources.Based on a conversation I had with Ellerman last spring, I thought he might have a different perspective on those events. I am sending this to him to see if I misunderstand. Shann requested that I include the following language "2. Before the section on the Capital Homestead Act on page 14 -17 could you add a new short Section with the heading along the lines as follows: The Use of Central Banks to Spread Ownership At the COG Strategy meeting in May 2001, Shann Turnbull was invited to present a paper on "The Use of Central Banks to Spread Ownership", refer to http://papers.ssrn.com/sol3/papers.cfm?abstract_id=277508 This paper introduced an original framework of economic analysis used but not explained in his 1975 book Democratising the Wealth of Nations whose full text can be downloaded from the COG library at http://cog.kent.edu/lib/TurnbullBook/TurnbullBook.htm The framework is explained in a TOES book, Building Sustainable Communities: Tools and Concepts for Self-Reliant Economic Change, C. George Bennello, Robert Swann, Shann Turnbull, Edited by Ward Morehouse, Bootstrap Press of the Intermediate Technology Development Group of North America Inc. New York, New York, 1989, Revised second edition 1997 and also in his 1992 paper 'New Strategies for Structuring Society From a Cashflow Paradigm', posted in the COG library at http://cog.kent.edu/lib/turnbull1/turnbull1.html. The article prepared for the COG meeting was also presented to the President of the World Bank to describe how client countries could establish self-financing economic development on a democratic basis consistent with the mission of COG and that of the World Bank to "eliminate poverty". The article also explained the basis for terminating the need for the World Bank and other international lending institutions when foreign exchange was not required in a development project. In consultation with David Ellerman, Economic Advisor to the Chief Economist of the World Bank and Ann Pettifor, Chief Executive of the Jubilee 2000 debt cancellation campaign and now CEO of Jubilee plus, Turnbull developed a plan for the World Bank to sell its loans to a self-financing Economic Development Facility established in client countries funded by their Central Bank. The President of the Bank, a former Australian colleague of Turnbull, gave Ellerman permission to develop this proposal but added his own idea that loans from the World Bank to the private sector in client countries also be included in the buy back proposal. Both public and private sector buy backs are included in an explanation of this proposal in Turnbull's article "Liquidating the World Bank: with debtor countries buying back their loans and introducing self-financing development" as listed on the Jubilee plus web page at http://www.jubileeplus.org/opinion/shann_Liquidwb.htm A Op Ed summary published in The Australian Financial Review on August 7, p.55, 2001 is posted at http://cog.kent.edu/archives/ownership/msg02062.html The core idea was inspired by the writings of Louis Kelso who also inspired followers in the USA to develop a "Capital Homestead Act" that represents a variation of these proposals as outlined in the next section." Deb At 03:14 PM 9/9/01 +1000, you wrote: At 01:34 PM 9/9/2001, you wrote:
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