No one can earn a million dollars honestly.
William Jennings Bryan, 1860 – 1925,
an American lawyer, statesman, and politician, three times the Democratic Party nominee for President of the United States.

The decadent international but individualistic capitalism in the hands of which we found ourselves after the war is not a success. It is not intelligent. It is not beautiful. It is not just. It is not virtuous. And it doesn't deliver the goods.
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Capitalism is the astounding belief that the most wickedest [sic] of men will do the most wickedest of things for the greatest good of everyone.
John Maynard Keynes, 1883 – 1946,
a British economist whose ideas, called Keynesian economics, had a major impact on modern economic and political theory, as well as on many governments’ fiscal policies.  

We have noted many deficiencies in the capitalism which we practice.  The purpose behind such a look has been to encourage thought and action about how to make capitalism work better.  We are now looking at possible solutions.  

In the two previous essay parts, we looked at ESOPs as a possible solution to the deficiencies of present-day American capitalism.  An ESOP is a corporation owned in whole or in part by its employees.  But what about small businesses which have but a couple of employees or whose employees are, for the most part, students wanting a part-time, short-term job?  What can be done so that those businesses overcome the deficiencies of present-day American capitalism?  

A small business based in a community probably would have a small profit margin.  A municipality could try to equalize the playing field for that business as the latter competed with franchises coming from the outside.  However, there would loom a possible violation of the Federal Commerce Clause or the state constitution.  An alternative solution would be a chamber of commerce whose mission was specifically and exclusively the support of home-grown small businesses.  Such a chamber could implement a local currency to boost sales by small businesses based in the community.  Such is being done presently:  www.ithacahours.org, www.madisonhours.com, www.cascadiahourexchange.com.  In exchange for such support, the businesses would abide by rules which would ensure that the deficiencies of capitalism did not emerge in their planning, employee relations, and transactions with the public.  To ensure compliance with the rules, the community could elect residents to serve as volunteer board members of these small businesses.  

A small business with many part-time employees who change relatively often likewise would benefit from a specialized chamber of commerce.  That employees were part-time could be a detriment with regard to employee drive and loyalty, but this detriment could be offset by letting part-timers participate in decision-making and share in profit.  

Here, then, is an outline:  

April 10, 2008