The New Physiocratic Platform

Platform Principles:

• Recognizing the uniqueness of land/physical space as one of the three factors of production, and its specific properties (versus labor and capital)

• Tax products of nature and land value, NOT taxes on productive property, using other taxes only in case land value taxation is inadequate” (see ULT)
-> with allowances for local governments & regions to incentivize local architectural guidelines

• To the extent any other taxes might be needed, there must be negative net taxation on personal incomes/savings and long-term investment (see our Three Pillars), to replace an ineffective and bureaucratic welfare system; and negative net taxation on productive business (see Sectoral Banks), giving small business a voice, and to mitigate against the weaponization of trade; use progressive consumption taxes as a backup, NOT taxes on production – to preserve the fiscal balance in the face of an aging population, and to reverse the artificial distortions that tilt the economy toward consumption over production & savings

• End corporate welfare & reverse economic distortions
-> eliminating subsidies, bailouts, uncompensated environmental use, licenses, privileges, and other means of rent seeking and monopolization

• Absolute transparency
-> including the strongest possible anticorruption measures, an open land registry, and budgetary transparency

• Replace bureaucracy with automatic mechanisms (see our Automatic Mechanisms)

• A directive to only build solutions & legislation that increase freedoms, rather than decrease it – this may include limits on total government taxation & spending, regulatory complexity, cost-benefit analysis, and the use of vouchers for health & education

• Long-term vision instead of impromptu fixes (see our Platform and book)

• Create the incentive structure and financial system for a production-centric economy, rather than one based on debt-fueled consumption and land speculation

• Maximizing individual freedoms and liberties

• Recognizing that land value taxation is the least harmful tax and that taxes on products of human effort should be minimized
• A shift away from taxes on earned incomes, towards taxes on unearned incomes (land, environment, and negative externalities) and consumption
• Elimination of taxes on personal & corporate income, and long-term capital gains
• Magnify our wages through the introduction of a National Income Supplement, which is part of the New Physiocrats “Three Pillars” programs
• Extend the National Income Supplement to include homemakers and the short term unemployed
• Negative taxation on business via Sectoral Banks, an automatic mechanism in the New Physiocratic economy
• Return short-term capital gains taxes back to the markets through the Assisted Savings Program (ASP) accounts
• Replace state-pensions with ASP accounts (one of the Three Pillars), to magnify peoples’ savings and investments
• Give all citizen-residents a share in the nation’s unearned & natural wealth through a National Dividend (one of the Three Pillars)
• Replace minimum wage laws with the New Physiocrats’ Three Pillars programs of direct cash transfers
• Replace an overregulated labor market with maximum flexibility, training, and income security
• Ensure that the Unified Location Tax (ULT) allows for local government to incentivize beautiful architecture
• Employ powerful incentives to encourage long-term thinking throughout the economy and government
• Democratization of physical and visual space with an allowance for local governments to incentivize their local architectural guidelines and regional style
• Entrench constitutional rights to private property and earned income
• Introduce permanent institutions to lead a substantial effort to increase peoples’ purchasing power, by driving down the cost of Basic Essentials
• Achieve greater self-reliance and broad economic diversification by reversing economic distortions with the use of Sectoral Banks
• Constitutional fiscal rules on spending, taxation, monetary policy, and deficits, to minimize public debt and eliminate corrupt/influential spending during election periods
• Introduce a constitutional government taxation and spending cap at a percentage of GDP, not including taxes/transfers from the Three Pillars program
• Introduce constitutional limits on state ownership, direct intervention, and bailouts; ensure it’s consigned to the initial phase of introducing the New Physiocratic platform
• Employ a program to maximize the dispersal of labor market information, such as wages and job availability
• Mandate that industry sectors, under Sectoral Banks, each have their own job training centers
• Create incentives for long-term capital inflows instead of short-term, with any revenues funding ASP accounts and Sectoral Banks
• Introduce a bill of rights for business, including maximum time limit on registering a business, and protections for private property and against injustice
• Introduce a public, professional, independent sovereign wealth fund, which also takes ownership of public utilities where they are a monopoly
• Replace both protectionism and unfair trade practices with the New Physiocrats’ Compensatism, to ensure compensatory measures are applied evenly and not granting special privileges
(compensating for unethical and anti-market practices, including slave labor, endemic subsidies & distortions, and large scale environmental destruction. It is in contrast to protectionism, which serves a different purpose, and ultimately tends to promote rent-seeking firms. Any compensation would have to be rules-based and applied evenly rather than being sector-specific)
• Eliminate planned obsolescence through packaging information, incentives, and introducing ratings and awards for durability
• Far-reaching monetary reform to prevent unsustainable debt levels
• Grant the central bank with a wider array of monetary tools, accompanied by better metrics to target to prevent the reliance on debt-inducing interest rate levers and QE. Ensure that it’s rules-based and automated rather than discretionary, similar to a k-percent rule
• Reform the central bank mandate to include not only inflation targeting, but price level targeting, money supply growth, and TFP growth
• Protect central bank independence allowing it to meet its new targets without political interference and automate its processes
• Change central bank ownership structure to be divided evenly between Sectoral Banks, individual citizens, and government – in order to ensure its economic rents are distributed to producers, consumers, and government (state/provincial and sovereign wealth fund) equally
• Introduce a 30-hour work week, with an official effort to maximize the population’s free time, while freeing/deregulating the labor market so that it can clear effectively. Working hours can be reduced by removing rules on hours of operation and introducing flexibility so that additional hours would be paid as overtime
• Streamline bankruptcy courts and cap wait times for cases
• Introduce the South Korean model of net neutrality and network infrastructure
• Prioritize smart grids and cutting edge infrastructure, with targets to minimize commute times, maximize free time for the population, and create a real market for energy
• Limits and targets on regulatory and compliance costs for small business, included in the bill of rights for business
• Introduce targets to maximize the dispersal of information to ensure a functioning market
• Ending licenses as much as possible, and creating rules to ensure they don’t reappear to create a means for special interests and oligopolies to emerge
• Deregulation, minimizing zoning, and removing impediments for new businesses; from the smallest scale (e.g. food carts and small vendors) to venture backed startups
• Harberger taxes on patents
• Assess possibilities to increase options on how taxes are paid (e.g. choices between harberger, etc.). to tailor to individual needs

• Introduce the most comprehensive and effective crackdown on corruption and waste in history, and create permanent anti-corruption & audit institutions to solidify the progress
• Tremendous simplification of bureaucracy and introduction of e-governance to replace the vast majority of paperwork
• Practice the utilization of policies based on empirical evidence, adapting governance policies from other nations achieving the best results
• Give official weight in government institutions to the importance visual space, particularly architecture
• Change to a quadriacameral legislature, which acts as a forum for individuals, economic sectors, and societal sectors to work together to meet the nation’s goals
• Ensure that the interests of long-term thinking and elimination of corruption and waste have significant representation in parliament
• Enshrine the independence of the judiciary into the constitution, as a prerequisite to economic reform
• Ensure multi-purposing of military spending (e.g. for scientific, educational, and development purposes) to reduce waste
• Ensure that proposed policies can be devolved to the local level

• Official policy to respect and learn from history and tradition
• Complete legalization of drugs and prostitution
• Schools funded with vouchers, so that students/parents can choose their school and increase their education options instead of being tied to one district or curriculum
• Add an option for summer holidays in schools to have a form of national service to gain a sense of exploration as well as locational and social mobility
• Universal health care provided by insurance vouchers, allowing maximum choice & competition in health care
• Recognize the role of marriage crisis in the current age demographic crisis
• Comprehensive marriage reform to ensure a more lasting union, and with fairness and justice being a top priority, add option for private institutions to create marriage contracts
• Recognize the valuable role of those who choose to raise children at home, and expanding the National Income
Supplement to them
• Constitutional respect for free speech, expanding it to all public property including universities / education facilities
• Compensation for infringements on privacy such as big data to contribute to the national dividend
• Immigration policy focused on bringing in those whose skills are needed, rather than clouded by age demographic needs
• Introduce a New Physiocratic “Progress Index” as a new principal metric for success, alongside usual GDP and unemployment measures, complementing the economic reform
• Allow school choice with a voucher system (for schools which meet standards) to ensure every child can attain the best possible education regardless of background
• Extend the voucher system to include employment insurance, to end the state monopoly, increase choice, and allow for creative solutions for re-employment
• Strong constitutional support for civil liberties