Percentage As You Earn   (%PAYE)

Finance and Finansurance of Human Investments (HI)

Research for Dissertation carried out by Daniel B. d'Avignon

       The subject of d'Avignon's dissertation was on tools for finance which proved through history to provide a stable and reliable economy.
      The body of research includes multiple examples for the use of capital as a tool, for which rent is paid by the borrower.  After completing his research d'Avignon examined the essential elements of the financial tools included and designed a tool he refers to as Percentage-As-You-Earn, which includes a combination of insurance and financing, for which he uses the term, "finansurance."  
         The night d'Avignon read the article he had an epiphany.  This method could be used to offer medical care to all people in the free market and achieve the separation of medicine and state; and its use for human investments internationally contract by contract.  Today we call this microfinance. 
        To be thorough, d'Avignon began researching the possiblity the method had been used previously in May of 1976.  On this he hit pay dirt, which proved the method not only worked it had worked so well it changed the course of history.  These changes included early immigration finance to America, displacing indentured servitude in American and slavery in New New England, New Amsterdam and New France; American privateers during the Revolution, PAYEments to country doctors;  mountain men at Rendezvous.  
       Milton Friedman had suggested the possiblity of such a financial tool in one paragraph of his book, Capitalism and Freedom (1959).  The idea was republished in Reason Magazine in a Trends short article in 1972 titled Pay As You Earn about Duke and Yale's use of the method for Tuition Postponement Option (TPO).  Brock read this and contacted Friedman.  d'Avignon told him he had renamed the charging method as Percentage As You Earn.  d'Avignon had also added to the method financial insurance, for which he had coined the word, 'finansurance,'  insurance to mitigate risk for both parties.  
        After discussing Brock's familiarity with Duke and Yale's FORTRAN Program Brock asked him what he thought about offering it to candidate Ronald Reagan as a platform item.  Friedman replied that Reagan was familiar with PAYE finance as a way to bring about the separation of education and state while he was governor but decided it would be too much of a fight with entrenched interests.  However, Friedman liked the idea but did not want to see it politicized because Friedman had achieved a Right-Left coalition to use it at Duke and Yale.  
           Brock raised the issue of medical care and preventative care for all.  Milton thought that was a great idea and that private universities and hospital insurers would adopt it first.  Public health could be absorbed by a free market using PAYE.  
           In 1990 Brock engineered the presentation of a life-time achievement aware for pioneering Percentage As You Earn Finance and Finansurance.  The presentation was made at the World Libertarian Convention for the International Society for Individual Liberty.  Afterward he introduced Brock to Rose, Friedman's wife and said, "Brock was the only person on Earth qualified to give him that award.  Later, Friedman wrote Brock a letter saying, "You write the book, Brock."
       Discouraged with the rejection of the Clinton rejection of the PAYE based CompreHealth Care, a proposal reviewed and endorsed by so many experts, d'Avignon continued his research, continuing to identify more applications of the same defining principles.  Today this includes the use of PAYE for Outvicts, beginning with non-violent, white-collar convicts.  
        Eventually, this research spanned 30 years and included the detailed examination of original documents from the early history of colonial America into the 20th Century.  During d'Avignon's on the ground research he noted that many records never previously examined.  Books carrying the information often had uncut pages, indicating he was covering historic ground which documented the economic practices of a people facing both unique problems of distance from investors in the cases of Redemptors, and the efficacy of trust as a reliable value for ensuring repayment.  
           Each area examined showed similar outcomes.  People who borrowed either funds or other tools repaid the loans with interest and were extremely reliable despite distances and time. 
             Compared with Rigid Installment Payments (RIPs) the reliablity is striking.  Less than 1% defaulted on these loans because they took into account the often erratic incomes of those borrowing and at the same time resulted in an economy which was, itself stable while retaining the opportunity to innovate which is shrinking today.   

       Part One:  Creating the Uncommon Man

Part One:  Creating the Uncommon Man
Historical Lessons Learned for Today & Tomorrow's PAYE Finance, Numbers 1 - 6

  Probe No. 1 - Merchant Adventurers and Redemptioners of Debt Defeat Indentured Servitude and Slavery
                   Notes on use of PAYE applied to the colonial system of justice for compensation to the judge and token payment 
                   to jury.  System also included attorneys.  

Probe No. 2 - Privateers' PAYE Financed Defense of Free-Market America

Probe No. 3 - The Rendezvous Between Mountain Men and PAYEments 

Probe No. 4 - PAYE Finances' "Continuum of Contact" as an Alternative to Bankruptcy's Bankruptcy

Probe No. 5 - An Involuntary Application - The U.S.S.R, The Education Soviet, and PAYE Finance

Probe No. 6 - Country Doctors - Reckoning PAYEments providing preventative and curative medical care for all.

Beginning March and April 1970 

Case Study 1 - Duke University

Case Study 2 - Yale Colleges

Case Study 3 - Stanford Leland Junior University

Case Study 4 - Harvard to Radcliff

Case Study 5 - University of Pennsylvania Law School

Case Study 6 - State Legislatures and PAYE Finance

Case Study 7 - Federal Government and PAYE Financed Higher Education
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