The Road Ahead from a Grass Roots Perspective
This new book stems from my original proposals for A Capital Spillway Trust, to create a free enterprise based, free market in capital. A fully competitive, free enterprise, open to all, marketplace; designed to supply equity capital to a much wider range of new, privately owned start-ups, new high technology firms and small businesses than at present, on terms acceptable to everyone.
Free enterprise? - Free enterprise is founded upon the concept of the manager of the business owns the business.
Ownership is an inalienable freedom; the right to own your own life, work, home, thoughts, et al. In which case, freedom also applies to the inventive and industrious, as the right to own the product of their industrious intellect. No different to an artist or writer; owning the right to their work. Thus free enterprise is an inalienable freedom; the right to own the business they have created. Just as employees are free to work, or not, in any such free enterprise.
Many years ago it was discovered that unless you provide a spillway for a dam, permitting the annual flow of a river to continue to be distributed downstream, great harm is caused to all parties who need access to that flow of water. I believe that there is a clear parallel today with our modern financial institutions. That the savings from local communities no longer return as local investment and that there is a need to recognise the need for a spillway that will permit a flow of capital for new business to return to the local communities.
Financial Institutions, the bedrock of any nation's fabric, need to recognise that they must create a free market in capital for new investment. The business venturer's freedom to create new long term jobs must be underpinned by equity capital being available to allow them to try, to venture. Such ventures are surely the great river source of a nation's vitality.
Now I widen the debate with: The Road Ahead from a Grass Roots Perspective
The original proposal for A Capital Spillway Trust is reproduced in Chapter 3.