The Seven Steps, in summary, with short comment, are set out below:-
That there be open, regular and public acknowledgement by state, economists and academia that the present western banking system is an unjust monopoly that creates 97% of the money supply as interest-bearing debt.
That interest-free loans (i.e. state-issued repayable money created free of charge beyond administrative and other necessary cost) be used, via community investment corporations and the like, for capital investment needed by the public sector thus enabling such investment to be one half, even one third, of the present cost.
That interest-free loans (i.e. state-issued repayable money created free of charge beyond administrative and other necessary cost including loan insurance) be used, on the principles of binary economics, for private capital investment which will create ownership stakes and property incomes for all income groups, especially the poor.
That interest-free loans (i.e. state-issued repayable money created free of charge beyond administrative and other necessary cost including loan insurance) be used for loans to start-up and small business for socially desirable enterprise.
That, since Steps Two, Three and Four above, while enhancing productive capacity and individual productiveness, are counter-inflationary and ultimately diminish the money supply, debt-free money (state-issued, non-repayable money for public or wide ownership purposes) should be issued for another individual basic income to the extent necessary to keep a stable level of prices. The amount should be decided by a body free from operational control by politicians.
That women be addressed as to the role they can play in getting two basic incomes for all individuals throughout the world.
That moves be made to establish The Abraham Society and The Kashmiriat Society.
Step Seven uses Steps two to six to find a new long term solution for the problems of the Middle East and Kashmir. A solution is urgent and would be about as clear a gain to the human race as anything could be.
Implementation of the Seven Steps will create healthy non-inflationary economies and societies in which all individuals attain a sturdy independence becoming economically productive to the extent necessary to satisfy their reasonable needs.
Peter Challen’s is co-author, with Rodney Shakespeare, of “Seven Steps to Justice”