| Subject: | [socialcredit] Re: To the Select Few | | Date: | Tuesday, June 7, 2005 00:08:35 (+0930) | | From: | <hermann @............au>
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William B. Ryan writes:
> [Hermann] That's because in the long run monetary
> growth must exceed interest growth in order to service
> the needs of both the financial economy and the
> industrial economy. This point has been made by
> Keynes.
> ------------------------
> Perhaps then you will supply a reference to where
> Keynes actually made that point.
Keynes stressed the need to distinguish clearly between "...deposits used
for the purposes of industry, which we shall call the financial circulation,
and those used for purposes of finance, which we shall call the financial
circulation". Keynes went on to say that it is important to keep "the total
supply of money at such a level as to leave over, after satisfying the
financial circulation, the optimal amount for the industrial circulation".
Ref: J.M. Keynes, Collected Writings, vol 5, pp 217 and 230.
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Re: To the Select 
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