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You asked the question, John:
"Does this apply to the whole economy? Surely this is the first point where controversy enters? Can we identify any 'force' that could cause a discrepancy to occur at this level?"
I suggest that the 'force' that causes the discrepancy at both microcosm and macrocosm is improved efficiency.
Douglas invites us to see the economy as a consumer production system. Government can be thought of as a consumer service bought by the taxpayer. And banking of course provides that somewhat important ingredient of a consumer production system, money. Financing consumption is part of that.
And since my note was only 2/3 of a page of 12 pt. type, I don't know why you call it "immensely lengthy."
Michael
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