The New School of Economics The Platform and Theory Behind the New Physiocrats

The New School of Economics offers a coherent plan to transform our current confining and unjust economic system into a fair and prosperous economics with opportunities for all. This book addresses systematic issues and offers a roadmap to overcome denied access to prosperity, by creating a more just and vibrant society where everyone has an opportunity to thrive and find fulfilment. The author introduces a more simplified introduction to the world of Physiocracy, and the physiocrats, the 18th century group of economists who believed that the wealth of nations derived solely from the value of ‘ land agriculture’ or ‘ land development’ and that agricultural products should be highly priced. At the center of this book is the movement of a new way of economic thinking. With their political-economic framework, The New Physiocrats refer to this as the ‘ New School of Economics’ . The New School of Economics presents many opportunities for lively debate. Especially now, when the whole banking system is about to collapse. The author presents an entirely new banking and tax system that is a much fairer distribution of resources and their allocation than ever before.

Philip Allan (1988) was born in Toronto, Canada. He attended the University of Waterloo (Canada) for Geography and Business, and later the University of London (UK), SOAS for Macroeconomic Policy, He was employed as an Economic Policy Analyst for the Government of Canada, first through a government-owned think tank, Policy Horizons Canada, and then at Industry Canada’ s Economic Research and Policy Analysis Branch. He is currently residing in Europe, employed in the private sector (fin-tech, brokerage) where he maintains a strong interest in policy. Philip Allan (1988) was born in Toronto, Canada. He attended the University of Waterloo (Canada) for Geography and Business, and later the University of London (UK), SOAS for Macroeconomic Policy, He was employed as an Economic Policy Analyst for the Government of Canada, first through a government-owned think tank, Policy Horizons Canada, and then at Industry Canada’ s Economic Research and Policy Analysis Branch. He is currently residing in Europe, employed in the private sector (fin-tech, brokerage) where he maintains a strong interest in policy.

Prologue x Update & Reflection: xvi Introduction The Dream 1 Who are the New Physiocrats? 2 The Decline of Current Market-based Models 3 Part I: The Guiding Principles of the New School 7 Georgism’ s Pragmatic Land Value Tax 10 Modern-Day Examples 14 The New Physiocratic Platform 14 Our Flag 15 Part II: Economic Reform Platform 17 The Three Pillars of Income Security 17 Commons Levies for the National Dividend 19 Lessons Learned and Property Bubbles 20 Unified Location Tax (ULT) 22 Environmental Taxation 27 Returning the Money You Earned 28 The New Management Incentives 30 Monopolies and Public-Private Partnerships 32 Sustainable Value Added Tax (SVAT) 33 Types of Consumption 34 Focus on Purchasing Power 35 Sectoral Banks 36 Business-to-Business Portal 46 The Effort to Support Purchasing Power — Benefit Licenses 47 Table of Contents Community Restaurants, Cultural Clothing, and Groceries 48 Local Markets 49 Consumers and Farmers Shops 51 The New Rules for Industrial Organization: The Problems with Picking Winners 51 Static, Dynamic, and Traditional Sectors 52 Visual Space 55 The New Rules for a Functioning Market: Guardians of Transparency 56 Private Property 57 The Path to Full Employment 58 The Effort to Restore Our Time 58 Bankruptcy 60 Perfect Information and Perverse Incentives: Publish salaries, education availability 60 Industry-Managed Rapid Retraining (IMRR) 61 Employer of Last Resort 62 Freeing the Labor Market from its Distortions 63 Sustainable Pensions and Savings 64 The New Rules for Trade: Protectionism vs. Compensatism 66 Preferential Trade Agreements 71 Planned Obsolescence 71 Economic Complexity 72 Chilean-style capital controls 72 The New Rules on Government Spending 73 Focus on Incentives 75 Part III: Political Reform Platform 76 A New System of Government 76 Financial and Monetary Reform 81 New Central Bank Rules and Tools 85 Part IV: Social Reform Platform 87 Culture and Free Speech 87 Marriage and Child-rearing 87 Our Space and Health 91 Our Space and Education 92 Scale & Efficiency versus Diversity & Safety 93 Wasted Legal Efforts 94 A New Metric for Success 96 Part V: The Constitution — The General Agreement 98 The New Physiocratic Platform 99 Social Reform: 101 The Road to Power 105 Glossary 107 Annex I 110 Annex II 120