Leadership to Economic Common Purpose
Late in the 20th century, countries were improving the lives of their people through economic freedom, the world was uniting in economic common purpose, and violence was going down. The world then took a wrong turn that reversed economic momentum and caused social tensions and unprecedented violence. What went wrong?
America abandoned economic leadership for military might to run the world in a spectacular failure of leadership. At home, bad capitalism lobbied laws that resulted in a short-term economy with record concentration of wealth. Abroad, emerging economies were devastated by uncontrolled hot money and currency speculation causing Muslim leaders to criticize America as an economic imperialist.
Through the pension fund managers, the people must lobby for laws that support economic growth and broad wealth distribution at home, and leadership towards economic common purpose abroad, including a capital wage in large tax-free dividends, a change in measurement of corporate performance from short to long term, limitations on borrowed money for speculation, and international monetary rules that balance hot money with long-term investment.