I have been interested for some time in "Binary Economics" and the work of Kelso and his followers.

Kelso actually had some success in relation to widening of capital ownership in US corporations through ESOP's.

But beyond this Binary Economics falls down in the difficulty of the transition.

To me, Binary Economics is analogous to Newtonian Cosmology - ie the Earth of Labour revolves around the Sun of Capital, rather than vice versa.

Conventional and Marxist economics are still stuck in an anthropocentric paradigm, regrettably.

Firstly, as Einstein had it, I believe that it is all relative.

ie neither Capital nor Labour is central - since "Money" and Property" are relationships - so that it is the relationship between Subject (Labour) and Object (Capital assets) that is productive, as opposed to Labour or Capital individually.

Secondly, we need to go beyond Newtonian absolutes and look at the role of Time in these relationships in a new way.

This is where what I call "Open" Capital (ie the use of Capital for an INDEFINITE period - you share revenues or production for as long as you use the Capital) transcends the dichotomy in existing forms of Capital between the Absolute/Infinite (eg Equity, and Freehold land) and the Absolute/Finite (eg debt, leasehold land)


"The future is already here -- it's just not very evenly distributed" William Gibson