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less," thereby improving our habitat and quality of life.

Kelso and Adler are probably best known for systemizing the theoretical basis for Kelso's invention of the Employee Stock Ownership Plan, or "ESOP." They co-authored two books, "The Capitalist Manifesto" (1958), and "The New Capitalists" (1961). Kelso and Adler proposed widespread capital ownership and democratic access to the money creation powers of the Federal Reserve to finance acquisition of productive assets by people who lack existing accumulations of savings. The proposal, systematized by the Center for Economic and Social Justice as "Capital Homesteading," would (as the subtitle of Kelso and Adler's second book puts it), "free economic growth from the slavery of savings." The rich could spend their money as they liked without having to worry about confiscatory taxation to fund welfare and Social Security, while the currently poor would gain democratic access to no-interest, low-fee, insured capital credit through local commercial banks . . . but only to acquire capital assets, not finance consumption spending.

Reverend William Ferree, "America's greatest social philosopher," analyzed the natural law social justice concepts of the Catholic Church, and developed a short list of "laws and characteristics of social justice" in his pamphlet, "Introduction to Social Justice." Intended to provide equality of opportunity, not equality of results, social justice is based on each person's dignity as a human being. Social justice works through humanity's unique ability to organize and consciously restructure our social institutions to conform more closely to our special needs and wants.

The vision of the Reverend Martin Luther King, Jr. hardly needs explanation for any American. Suffice it to say that any proposal that has the potential to lift people out of poverty without regard to race, religion, or politics, and to revive America's dying cities and towns without burdening the taxpayer or increasing government debt would probably have his full support. This vision was inserted into the East St. Louis project by the late State Representative Wyvetter Younge, who died recently after a lifetime of service to her state and her community.

The heart of the MECLC is that the owners of the future economic growth and development will not be faceless corporations or foreign investors, but the residents of eleven Metro East communities: Alorton, Brooklyn, Cahokia, Centreville, East St. Louis, Fairmont City, Granite City, Hartford, Madison, Venice, and Washington Park. All net profits will be distributed to the owners as dividends. All resident shareholders (every man, woman, and child) will have a single no-cost, lifetime, non-transferable, fully-participating share and vote.

If universal direct ownership of the means of production is the heart of the MECLC, the "head" consists of an advanced power generation plant, capable of providing 7.5 megawatts of power. This "E-Macrosystem" power plant, a joint venture with Equitech International and ARES, LLCs, will provide energy for a manufacturing center to replicate the projected success of the East St. Louis initiative.

In short, as we reflect on the current economic crisis and the disastrous effect it is having on cities and towns already in serious trouble, we need to realize that there is hope. While problems may seem (and be) insurmountable at the individual level, in social justice terms, as Reverend Ferree pointed out, "nothing is impossible."

Learn more about this author, Michael Greaney.
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