| Subject: | Re: [socialcredit] core statement of the theorem | | Date: | Friday, July 1, 2005 17:04:52 (-0600) | | From: | Martin Hattersley <hattersleyjm @.........com>
|
One of the best discussions on the A+B theorem that I know comes in John
Hughes's book "Major Douglas - The Policy of a Philosophy", particularly
Chapter 5 : "Social Credit Economic theory". He is particularly interesting
in his study of the relationship between the analyses of Douglas and Maynard
Keynes.
To quote a short passage:
"It is a misnomer to refer to 'The Douglas Theory' in the singular. Keynes
did not make that mistake, using instead the plural 'theories'. In the
course of the inter war period Douglas put forward at least five separate
theories and it is a combination of three of these that are being put
forward here in explanation of his view. Indeed, it is only in what might be
termed the final theory that he put forward a case that the more rigorous of
the critice - Gaitskell, Durbin, Hawtrey, Lewis, Keynes, MacPherson, Hiskett
and Franklin - never really succeeded in undermining. Manifestly, it was the
notoriety of the early A+B format and the mention of it in the 'General
Theory' which created the impession of a single Douglas Theory. Most writers
have felt obliged to quote the A+B because of this."
A list of the critiques of the theory, and published replies to these, can
be found in Appendix 4 of the Hughes book.
I may say that, using the Sector Accounts published by Statistics Canada for
the period 1926 to 1980, and the weekly figures of M3 Canadian money supply
published in the Bank of Canada Statistical Summary over the same period, I
have been able to produce figures which follow with great accuracy the
actual changes in the consumer Price Index in Canada during that period: I
have also had similar results over a shorter period with data from New
Zealand. This does confirm to my satisfaction, at least, that this 'flaw in
the price system' identified by Douglas is a reality.
Martin Hattersley
1970-10123-99 St.,
EDMONTON AB CANADA
e-mail: hattersleyjm@interbaun.com
----- Original Message -----
From: "William B. Ryan" <w_b_ryan@yahoo.com>
To: <ownership@cog.kent.edu>; <socialcredit@elistas.com>
Sent: Friday, July 01, 2005 5:33 AM
Subject: [socialcredit] core statement of the theorem
> The core statement of the theorem is this:
>
> ___Since A cannot purchase A+B, a portion of the
> product equivalent to B must be distributed by a form
> of purchasing power not included in A.___
>
> The statement is literally true by its definitions
> inasmuch as it applies to any representative firm.
> There is no inference in the statement that the
> portion of the product equivalent to B paid by that
> firm cannot be distributed by the salaries, wages and
> dividends paid by other firms.
>
> If we take the representative firm to be the retail
> sector, and take other firms to be the totality of the
> remainder of the structure of production, it is
> certainly POSSIBLE that the salaries, wages and
> dividends paid by the remainder of the structure of
> production will equal B paid by the retail sector.
>
> But if the retail sector through labor SAVING
> technology is reducing its ratio of A to B, it must
> necessarily be the case that the remainder of the
> structure of production must be increasing its ratio
> of A to B through labor WASTING technology for the
> possibility to exist that salaries, wages and
> dividends paid by the entire structure of production
> will equal the retail sector's A+B charged to the
> public.
> -
>
>
>
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