Thomas Burgess - From Here to Prosperity

‘Burgess presents a much-needed path to engage both the wealthy and everyone else. It isn’t punitive, it is inclusive. It isn’t billionaire bashing, it’s bridge building. The principle of ‘Inco me for me/ we alth for we’ is not just practical, it is executable. This book outlines an agenda to build balance again with greater opportunity, a healthy middle class and a productive environment for the continued creation of wealth for the benefit of all, not just the few.’

Chuck Collins, author of Born on Third Base: A One Percenter Makes the Case for Tackling Inequality, Bringing Wealth Home, and Committing to the Common Good, Senior Scholar, Institute for Policy Studies, Washington DC, and co-editor of Inequality.org. Co-founder of Wealth for the Common Good and Patriotic Millionaires

‘Governments across the world are grappling with the increasingly toxic issue of social and economic inequalities. This book by Tom Burgess contributes some bold and imaginative ideas to the ongoing debate with a view to coming up with a package of practical solutions designed to bring about a reduction in financial hardship currently experienced by so many people worldwide.’

Professor David Wilson, Emeritus Professor and Pro-Chancellor, De Montfort University

‘A sound, commonsense approach to engaging business for the greater good where we all can profit. It is not enough for business to have a social conscience. It is the performance that counts. Tom Burgess offers a practical agenda to engage the philosophy of a corporate social conscience through initiatives such as tax reform, profit allocation and self-financing infrastructure investment. A defining statement which should be read by all entrepreneurs who seek a clear alternative perspective to progress their business.’

David A Kerfoot MBE DL

‘Long before Piketty quantified it, some thinkers realized that a chasm of inequality had been opening up over the past twenty-five years between the have-nots and the have-alls (leaving aside the increasingly squeezed middle). Burgess was one of these early thinkers, and his thesis that zero-sum economics is socially and financially destructive is the product of a generation’s-worth of hard thinking on the matter. The analysis and solutions Burgess puts forward are radical and urgently in need of implementation.’

Prof. Chris Green, formerly Associate Professor in the Faculty of Humanities, Hong Kong Polytechnic University

‘A century ago, civic-minded business people who understood how concentrated wealth undermines our democracy helped launch the struggle that toppled America’s original plutocracy. In Inco me for me/ we alth for we, Burgess reignites that civic-minded spirit.’

Sam Pizzigati, Associate Fellow, Institute for Policy Studies, Washington DC and author of The Rich Don’t Always Win

© Thomas J. Burgess 2016

All rights reserved. No part of this book may be reproduced in any form without the written permission of the publisher, Shepheard-Walwyn (Publishers) Ltd

First published in 2016 by

Shepheard-Walwyn (Publishers) Ltd

107 Parkway House, Sheen Lane,

London SW14 8LS

www.shepheard-walwyn.co.uk

British Library Cataloguing in Publication Data

A catalogue record of this book

is available from the British Library

ISBN: 978-0-85683-503-2

Typeset by Alacrity, Chesterfield, Sandford, Somerset

Aclnowledgements Acknowledgements I WOULD particularly like to thank my publisher Anthony Werner, my editors Francis Pearce and Derek Aldous, Tobi Brown and Mary Seivert for the cover design, Lev Janisvilli for providing early feedback and Dena Schneider for helping the initial focus. Also the members of the Economic Study Association who meet regularly to discuss and analyze my father’s economic writings. This book would not have been possible without the tireless work of my late parents, my mum Rosemary for getting me through to being a grown-up and my dad, Ronald for introducing me to economics and politics. Also thanks to my friends in the USA and UK for listening to my ideas. Most of all, thanks to a special person Debra Raine for inspiration, support and constant encouragement without whom this book would not have happened. Linguistic note: Though this book was mainly written while I am in California, it is published in London for distribution in the UK, USA and beyond, I have used the British spellings unless it refers to a specific American instance.

Preface

Part I • Challenge for Change

1 Where Are We Now?

1.1 Extreme inequality and persistent poverty

1.2 Slow economic progress

1.3 Government isn’t working (for us)

2 Radical Rethink

2.1 Austerity to prosperity

2.2 Tax as a toolbox

2.3 Revolution or evolution?

Part II • The Agenda for Progressive Prosperity

3 Turnaround Taxation

3.1 Inco me for me

3.2 We alth for we

3.3 Location, location, location!

4 Socially Responsible Capitalism

4.1 Fair pay all the way

4.2 Profits for people

4.3 Working together

5 Foundations for the Future

5.1 Integrated infrastructure

5.2 Excellence in education

5.3 Health and welfare of the nation

Part III • Moving Forward

6 Hope into Reality

6.1 Towards progressive prosperity

6.2 Convincing the confused

6.3 Campaign for change

7 And Now, It Is up to Us

7.1 Body of evidence

7.2 The time is now

7.3 Next steps

I WOULD particularly like to thank my publisher Anthony Werner, my editors Francis Pearce and Derek Aldous, Tobi Brown and Mary Seivert for the cover design, Lev Janisvilli for providing early feedback and Dena Schneider for helping the initial focus. Also the members of the Economic Study Association who meet regularly to discuss and analyze my father’s economic writings. This book would not have been possible without the tireless work of my late parents, my mum Rosemary for getting me through to being a grown-up and my dad, Ronald for introducing me to economics and politics. Also thanks to my friends in the USA and UK for listening to my ideas. Most of all, thanks to a special person Debra Raine for inspiration, support and constant encouragement without whom this book would not have happened.

Linguistic note:Though this book was mainly written while I am in California, it is published in London for distribution in the UK, USA and beyond, I have used the British spellings unless it refers to a specific American instance.

To Carla, Greg and Eve

May you enjoy the freedom of prosperity

‘Recognition of the inherent dignity and of the equal and inalienable rights of all members of the human family is the foundation of freedom, justice and peace in the world…’

Preamble to the Universal Declaration of Human Rights adopted in 1948 by the General Assembly of the United Nations