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Bill: Valruzian Economic Renewal Act (VERA)
Details
Submitted by[?]: Independence Party
Status[?]: defeated
Votes: This is an ordinary bill. It requires more yes votes than no votes. This bill will not pass any sooner than the deadline.
Voting deadline: April 2942
Description[?]:
| On Article 1: How can large banks run by bureaucrats be more efficient than banks that are allowed to compete with each other, thereby bringing in financial innovations that, in the end, help the middle class? Yes, a mechanism should be in place to control monetary policy (a central bank) and we should have guarantees for victims of failed banks, but having the government actually run and operate the bank is inefficient and opens the door to corruption. On Article 2: Again, competition increases the quantity of output and lowers the price. Sure, provide subsidies for the poor. We would save a lot of money by de-nationalizing and allowing market mechanisms to work -the price of energy would go down, the supply would go up, and the common people would benefit. On Article 3: A flow of foreign capital into our country decreases the cost of living for our citizens and increases general wealth. Having such a contrived process for approving foreign investment is insane. On Article 4: Subsidies are counterproductive and usually end up helping big businesses at the expense of small businesses. Government ownership of industry is about the most inefficient thing imaginable and opens the door to huge corruption. On Article 5: There is no reason to own the stock exchanges. Nor is there a right to. |
Proposals
Article 1
Proposal[?] to change The banking system.
Old value:: The government operates large, national banks, but small community based private banks are allowed.
Current: The government operates a central bank and all other banks are private.
Proposed: The government operates a central bank and all other banks are private.
Article 2
Proposal[?] to change Energy regulation.
Old value:: Energy is provided by nationalised companies.
Current: Energy is provided by private companies which are not subject to any special regulations.
Proposed: Energy is provided by private companies but the prices they can charge are regulated.
Article 3
Proposal[?] to change
The government's policy regarding foreign investments.
Old value:: Foreign investors need to obtain government approval for all investments in national companies.
Current: Foreign investors may freely invest in national companies.
Proposed: Foreign investors may freely invest in national companies.
Article 4
Proposal[?] to change Government policy on industry and subsidies to industrial operations.
Old value:: The state owns the commanding heights of the economy and all major industries, but private ownership is allowed in the minor industries.
Current: The government acts as an investor of last resort, by nationalizing failing industries that provide vital goods or services.
Proposed: The government does not intervene in the market nor provide any form of subsidies/relief to industries.
Article 5
Proposal[?] to change The government's position towards the stock exchange(s).
Old value:: The government owns the stock exchange(s).
Current: Stock exchanges are allowed and are unregulated.
Proposed: Stock exchanges are allowed but are regulated.
Debate
These messages have been posted to debate on this bill:
| Date | 11:37:11, May 21, 2010 CET | From | Social Liberal Party | To | Debating the Valruzian Economic Renewal Act (VERA) |
| Message | Article 2 and 5 are sticking points for the Social Liberal Party. For one, it's hard to have competition in the energy sector as the barriers to entry are so high. We also feel that there may be rare circumstances where government intervention in the economy could be needed in terms of relief. |
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Voting
| Vote | Seats | ||
| yes | Total Seats: 67 | ||
| no | Total Seats: 154 | ||
| abstain | Total Seats: 154 |
| Random fact: Particracy allows you to establish an unelected head of state like a monarch or a president-for-life, but doing this is a bit of a process. First elect a candidate with the name "." to the Head of State position. Then change your law on the "Structure of the executive branch" to "The head of state is hereditary and symbolic; the head of government chairs the cabinet" and change the "formal title of the head of state" to how you want the new head of state's title and name to appear (eg. King Percy XVI). |
| Random quote: "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." - John Maynard Keynes |