Regional Economists and other fiscal experts gather to strategize on how to get corporations to:
“GIVE US OUR MONEY BACK!”
Thursday 7:00-9:00 pm, at the Democracy Center, 45 Mount Auburn Street, Cambridge
That’s what a group of economists think stockholders should be saying. And they don’t mean just large stockholders. Over 50% of stock is held by “regular people”, like nurses and teachers and vets and union workers.
Just over $2 trillion dollars (some half of the amount of total US government annual spending) of “regular people’s money, is being “hoarded” by corporations. This practice of “CASH HOARDING” is strangling the US economy, our local economists are telling us.
Large corporations are locked into a paradoxical situation. They cannot invest this money, because due to the state of the market they cannot be sure of a return on their investment; and if they all invest it, the flames of inflation will destroy the value of our wealth.
We get that.
But now it’s time for a new approach.
Advanced, independent economists are organizing and discussing what we can do. Carmine Gorga and Peter Bearse and other fiscal experts are gathering to discuss how to FREE UP THE CASH HOARDS.
The proposal would mean putting $3,500 (pre-tax) in the hands of each "regular person" shareholder... this is NOT the rich people who would get 75% of the cash hoards. But the 25% of the shareholders...the "regular people" would get $3,500 each.
Come! Thursday night! 7-9, Democracy Center, 45 Mount Auburn Street, Cambridge
The discussion will revolve around concepts described in one of Carmine's papers, published at interoccupy.net
Carmine suggests that these corporations distribute a good portion of that cash to their stockholders and bondholders, whose diffused expenditures will skirt the dangers of inflation. The paper includes two recommendations for people who will receive very large disbursements:
1. invest in your community as individual investors;
2. become joint investors with others through Local Interdependence Funds
Carmine, a former Fullbright Scholar, while he welcomes new clients, now engages most of his time in independent analysis. He has been publishing works around the transformation of economics from a “linear” to a “relational model”. See his numerous publications in economic theory and policy at his blog A New Economic Atlas
For larger cultural issues, see his other blog Modern Moral Meditations
Gorga was born in Southern Italy in 1935. He experienced at an early age the effects of the Great Depression and then WW II. It was only natural that he would devote his life to trying to understand the ebb and flow of economics as well as the causes of war, which he believes are interrelated.