In-Reply-To: <018701c5a977$473efd80$1902a8c0@keithb9abaaf21>
It pleases me no end to know that you too Keith have looked outside the
accepted doctrines of orthodox economic teaching. And now have access to
the like of Michael Hudsons awesome scholarship.
Some of us that accept much of Douglas Social Credit also recognise that
there is more. And that is not any sort of attempt to diminish that body
of ideas.
As you seem to say, you accept the idea that the "Common cultural
inheritance", along with the notion of the "Just price" predate Douglas by
a very long way. But I think that we are best served by taking advantage
of the combined knowledge, not fighting over who "Owns " it.
I seem to remember Douglas saying that "Ownership does not give control".
With that I agree :-)
The problem with all this I think is the almost inevitable conclusion that
orthodoxy, and in particular monetary orthodoxy desperately needs change.
And that does not suit the power hungry money men at all :-(
And too many people with their hard earned bits of academic paper feel
forced to jump to the defence of the status quo.
Ken.
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From: "Keith Wilde" <keithwilde@sympatico.ca>
To: <socialcredit@elistas.com>
Date: Thu, 25 Aug 2005 09:17:00 -0400
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Subject: [socialcredit] Year of Jubilee
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I notice that this biblically sourced institution has been mentioned =
recently by both Martin Hattersley and Ken Palmerton via comments by Ed =
Dodson about Henry George and land taxation. I have learned over recent =
months that it may have a more direct connection to Social Credit than =
texts I have purviewed of the latter seem to understand. =20
For many years I presumed on the authority of Roland de Vaux's Ancient =
Israel: Its Life and Institutions that the Year of Jubilee never really =
was a well-instituted practice among the Jews or other middle-eastern =
peoples. This supposition was refuted for me a few months ago by =
economic historian and specialist of finance, Michael Hudson, who =
pointed out that he has researched the subject extensively with the help =
of scholars specialized to the languages and and records of the ancient =
middle-eastern civilizations. These scholars conferences have been =
edited, summarized for financial implications and published by Hudson in =
about four book-length treatises, which were ordered a few months ago =
for a library to which I have occasional access, and I hope to examine =
them there in the near future.
The gist of it, for our purposes here, seems to be that credit was a =
common practice in those ancient kingdoms dominated by god-monarchs, =
long before there was money in the sense we conventionally think of it =
and as related to us by historians of recent centuries who have relied =
mainly on speculation for its origins. Credit was extended to farmers, =
mainly, in the form of seeds and other minimal resources, from the kings =
and priests who owned all of the kingdom's property, so that their =
subjects could do the work of providing food and other essential labor =
for the entire realm. The debts were recorded and cancelled when the =
crops or other production were submitted in payment. (The means of =
payment could be consolidated as debt size increased, from bags of grain =
to cows, e.g.) Vagaries of weather, invasions, and other misfortunes =
invariably interfered with the smooth operation of these systems, =
however, with the consequence that debts would often accumulate beyond =
the capacity of the people to repay them. Thus, it was necessary from =
time to time (and a fifty-year cycle seems to be a period that has great =
consistency over the millenia) to cancel debts and start over. =20
Anthropologically speaking, this seems to be a better fit with the =
origins of civilization (despotic god-kings) than the emergence out of =
individual savagery and micro-existence propagated by early modern =
political theorists (e.g. Rousseau) and its corollary that money =
originated as a superior means to effect barter exchange. It also works =
more effectively with the Social Credit idea of a collective cultural =
inheritance and would make some of the socred treatises I have read more =
consistent with the general theme than does their repetition of the =
barter origins of trade and the emergence of money as means of improving =
the micro focus on inter-individual exchange. Civilization and cultural =
inheritance emerged out of despotic systems, not the noble savage and =
the instinct to swap, exchange and barter one thing for another, as Adam =
Smith romantically put it. =20
Keith Wilde
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<DIV><FONT face=3DArial size=3D2>I notice that this biblically sourced =
institution=20
has been mentioned recently by both Martin Hattersley and Ken Palmerton =
via=20
comments by Ed Dodson about Henry George and land taxation. I have =
learned=20
over recent months that it may have a more direct connection to Social =
Credit=20
than texts I have purviewed of the latter seem to=20
understand. </FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>For many years I presumed on the =
authority of=20
Roland de Vaux's <EM>Ancient Israel: Its Life and Institutions</EM> that =
the=20
Year of Jubilee never really was a well-instituted practice among =
the Jews=20
or other middle-eastern peoples. This supposition was refuted for =
me a few=20
months ago by economic historian and specialist of finance, Michael =
Hudson, who=20
pointed out that he has researched the subject extensively with the help =
of=20
scholars specialized to the languages and and records of the ancient=20
middle-eastern civilizations. These scholars conferences have been =
edited,=20
summarized for financial implications and published by Hudson in about =
four=20
book-length treatises, which were ordered a few months ago for a library =
to=20
which I have occasional access, and I hope to examine them there in the =
near=20
future.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>The gist of it, for our purposes here, =
seems to be=20
that <EM>credit</EM> was a common practice in those ancient kingdoms =
dominated=20
by god-monarchs, long before there was money in the sense we =
conventionally=20
think of it and as related to us by historians of recent centuries who =
have=20
relied mainly on speculation for its origins. Credit was =
extended to=20
farmers, mainly, in the form of seeds and other minimal resources, from =
the=20
kings and priests who owned all of the kingdom's property, so that =
their=20
subjects could do the work of providing food and other essential labor =
for the=20
entire realm. The debts were recorded and cancelled when the crops =
or=20
other production were submitted in payment. (The means of payment =
could be=20
consolidated as debt size increased, from bags of grain to cows, =
e.g.)=20
Vagaries of weather, invasions, and other misfortunes invariably=20
interfered with the smooth operation of these systems, however, with the =
consequence that debts would often accumulate beyond the capacity of the =
people=20
to repay them. Thus, it was necessary from time to time (and a =
fifty-year=20
cycle seems to be a period that has great consistency over the =
millenia) to=20
cancel debts and start over. </FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>Anthropologically speaking, this seems =
to be a=20
better fit with the origins of civilization (despotic god-kings) than =
the=20
emergence out of individual savagery and micro-existence propagated by =
early=20
modern political theorists (e.g. Rousseau) and its corollary that money=20
originated as a superior means to effect barter exchange. It also =
works=20
more effectively with the Social Credit idea of a collective cultural=20
inheritance and would make some of the socred treatises I have read =
more=20
consistent with the general theme than does their repetition of the =
barter=20
origins of trade and the emergence of money as means of improving the =
micro=20
focus on inter-individual exchange. Civilization and cultural =
inheritance=20
emerged out of despotic systems, not the noble savage and the instinct =
to swap,=20
exchange and barter one thing for another, as Adam Smith romantically =
put=20
it. </FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>Keith Wilde</FONT></DIV></BODY></HTML>
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