Rebirth of Reason

George Leonard Ashford

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The model put forth by Rebirth of Reason is an excelent one.

The following is an expansion of this idea on how to run the government without any taxation on anything.

Lovellian Economics is an omnibus macroeconomic policy program represents the fruits of approximately 10 years of research and development that has culminated in separate submittals being made to the Government Accountability Office, Congressional Budget Office and Social Security Administration Actuary’s Office.  In all three cases the agencies urged us to have a member of the Congress or Senate to submit a formal scoring request as the basic principles and means appeared to sustain the claims of the program author (Clinton E. Lovell).   Lovellian Economics follows some of the same basic principles as the Austrian School, but includes a complete (audit ready) array of formal fiscal policies that focus on using the investment-income method of government funding to provide a fiscal appropriations process that is every bit as unlimited as is our government’s penchant for fiscal spending. 

To understand this solution one must first understand that our current system is ultimately doomed to failure, because; our current fiscal policy appropriations program attempts to match up a relatively unlimited activity (i.e.: fiscal spending in a democracy) with a limited activity resource (i.e.: taxation).  The outcome will continue to be a failure until one realizes that the only workable long-term solution must lie in the creation of a fiscal appropriations system that offers a relatively unlimited activity resource pool that can be matched up with the unlimited fiscal spending potential of units of government.  More specifically, the omnibus macroeconomic program includes the following key institutional/systemic solutions:

1.       Commercial Banking Reform.  A self-sustaining and self-regulating commercial banking system that will not crash, nor will it cause wealth to be unintentionally concentrated within a narrow band of stakeholders in the economy or require the continued support of taxpayers.

2.       Central Banking Reform.  A self-sustaining and self-regulating central banking system that cannot cause inflationary economic cycles, nor create any of the problems we see routinely expressed today with regards to problems facing credit allocation, the formation of capital and currency expansion.

3.       Health Care Reform.  A universal health care fiscal appropriations program that funds health care for all Americans that is both affordable, accountable and uses no tax dollars to sustain its operations.

4.       Education Reform.   A universal education benefit that covers all Americans and replaces the taxation system of financing in its entirety while providing true accountability at all levels of operations.

5.       Social Security Reform.  A universal funding program that fully funds all current law formulation benefits without any long-term naked deficits, increases outlays to the most at-risk households and provides a new system that replaces the current taxation model completely (no more mandatory contributions).

6.       Housing Industry Reform.  A new funding program approach that is more efficient and profitable for the financing of housing in the United States that eliminates the foreclosure risk the housing finance industry has had to bear, while providing a higher-yielding investment opportunity for the home buyer that is not based upon the subjective measures of credit (that have proved to be so unreliable) and focuses instead upon the income of the buyer and the income alone.

7.       Capital Markets Reform.  A new capital market exchange program that offers the investing-public the exact benefits it has been looking for but unable to achieve due to the inherent conflicts-of-interest and moral hazards the current stock exchanges require investors to sustain as the price of doing business.  The new exchange insures every transaction against investment fraud, bankruptcy risk, foreclosure risk and total investment loss risk.

The Lovellian model focuses on the use of logical economic arrays and a simple reorganization of the way free-market capitalism is undertaken with no untested components required to make it all work.  Indeed, the key to understanding the Lovellian model is to understand that you would have everything you like about our current economic society plus all of these extra benefits reasonable people would agree as being highly desirable.

All of these programs and concepts are already available as white papers that explain how these systems work, how the institutional organizational approach will provide the stated benefits as the usual and expected course of continuing operations of the economy (on all levels) and provide these benefits without the attending problems of fraud, waste and corruption that have permeated the current system and undermined public confidence in government.  Our group would like to bring this program forward and into the limelight as part of the discussion of how we can end the fiscal nightmare without having to resort to crippling taxation or an economic recession of even greater impact than the one we currently find ourselves dealing with currently.  To this end please request five Talking Points papers and five corresponding White Papers that explain the New Banking System, the Health Care entitlement program solution, the Education entitlement reform solution, Housing Plus finance reform and Social Security reform that you may wish to review and test.

Google Lovellian Economics. 


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