Oneness Economics

An Open Letter from God

What is the Universal Light? What is the True Religion?

Read the latest RELIGION NEWS from around the world!

Truth Love Balance Oneness

Oneness: An Economics Perspective

(a Multi-Essay Series)

Essay Topic: A Consumer Economy Accessible To All

By Vince Milum, J.D., MBA, CPCU, ARM, AIC, AMIM, ASLI

Given that our emerging global economy is (and will continue to be) one which recognizes private property rights, we must then answer the question, "Who will decide how various economic goods are rationed?"

While it is generally agreed that a consumer economy is far preferable to that of the command economies offered by totalitarian societies, one is hard put to describe a consumer economy as a panacea for all the world’s citizens. In a world of haves and have-nots, only the haves are able to enjoy the fruits of such an economy. The have-nots are relegated to positions as bystanders. Such an economic order can lead to envy and periodic upheaval as has been demonstrated throughout history. (Absent a spiritual resolution, this cyclic history is apt to be repeated.)

How, then, can we accommodate the demands of a consumer economy without experiencing the causative byproduct of disenfranchisement? One way is for us to continue to ensure access to consumer goods as demanded by society while creating a social safety-net for those who would otherwise be left out. Thus the answer of "who will decide" is really two-fold.

For those with the economic means to achieve favorable demand outcomes, there would be no need to disrupt the present market allocation systems. However, for those lacking the means to provide for themselves and their families, supply-side initiatives will need to be undertaken which ensure that each economic unit is able to achieve a (specified) minimum level of satisfaction. (An example of a supply-side stimulus is a financial incentive for those employing those with mental or physical impairments.)

The remaining question is thus — to what degree does society want to provide so-called "luxuries" in the market-basket of economic units which are not self-supporting. For instance, should an economic unit — which is not self-sustaining — be entitled to the same package of entertainment value as one which is self-supporting? Matters such as these will be resolved by Oneness economic institutions but, hazarding a guess, one would think not.

Still, Oneness as an institutionalized principle cannot help but lead us to a more equitable sharing of all the world’s treasures.

Comments regarding this essay are welcomed. The author may be reached at vmilum@universallight.org.

Universal Light Institute