What is a Reformation of Capitalism?
Capitalism isn’t anything more than property that is owned; even if by a socialist government. It is possible to build capital and capital infrastructure in as many ways as human or natural processes exist. When stars burn and go nova they produce different capital elements. When it rains water capital flows on the land’s surface and produces rivers. When an individual imagines up an invention he or she has created intellectual capital that may be converted into material capital or an intellectual product such as an algorithm. Capital need not be reformed so much as human approaches to utilizing and creating capital do.
Government is supposed to protect public interests in a democracy. Government is an expression of concatenated individual self-interests. The public has an interest in protecting the common environment rather than degrading or destroying it. The public has an interest in protecting individual self-interests and the right of individuals to build their own capital; government should serve those interests. The government also has an interest in defending itself against powers and persons that would end its effective public functions.
It can sometimes become necessary to tax rich individuals punitively to destroy their acquisition of too much political power through concentration of capital that democracy and functions of government in carrying out its primary duties are undermined. Presently the over-acquisition of capital and political power that follows economic hegemony adversely impacts environmental defense and recovery. The over-concentration of wealthy has created an implicit economic bias against all of the citizens that are not in the very small minority of super-rich networked plutocrats; they have an uneven economic field to work in to try to build up their own capital quantitatively and qualitatively. It is even possible that developing political plans and economic modalities that are better suited to the ambient ecospheric and demographic elements is prevented for the majority as concentrated wealth networks pursue their narrow self-interest in building their own capital.
I would tax the upper 5 % of income earners in the nation at 70% and the upper 1% at 90%. It would be a good idea to reduce patent exclusivity to three years and allocate 10% of royalties to the inventor-patent holder thereafter. In order to develop a sustainable ecological economic infrastructure there should be incentives for creating low-entropy, sustainable economic developments.
Ecological zoning should be made to develop a no net loss of surface biota construction ethic.
In times past it was recognized that the state has an interest in assuring that its citizens can defend themselves and compete with state-of-the-art universal literacy and education. Public education at all levels should be free for citizens though private educational establishments should continue for-profit as well as non-profit. A basic universal right of citizens to have some sort of a minimum income and private storage and living unit to keep citizens from being caught in roiling abject poverty currents should exist in a demography saturated with surveillance, law enforcement and urban risks for the homeless. In the American past the wild frontier and cheap property values made basic existence simpler. Today the simple legal right to exist someplace and sleep may be so exclusive as to render otherwise law abiding citizens criminals simply for being alive.