In-Reply-To: <20050910204915.32984.qmail@web60513.mail.yahoo.com>
I think it quite amazing, and something of a measure of the closeness to
truth threatening the control by centres of monetary power, when a whole
raft of commentators, From Tom Paine, Malthus, Fourier, and even Keynes
himself question the adequacy of purchasing power "From permanent
sources". With very little comment.
But it takes the follow up, with detailed proposals to correct the
problem, to mobilise opposition of considerable and overwhelming
magnitude.
I think that this threat is seen to take an axe to the very roots of
orthodox classical equilibrium economics. That of course to the powerful,
including the gatekeepers of academia, is unacceptable.
Comfort can be taken in the words of the heretics like Galbraith, who
summed it up for me by saying: "Says law stands as the most distinguished
example of the stability of economic ideas, including when they are wrong."
Ken.
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From: "William B. Ryan" <w_b_ryan@yahoo.com>
To: socialcredit@elistas.com
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Subject: Re: [socialcredit] the accounting model
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There is no question whatsoever that Douglas was
developing what he and his colleagues working in a
similar direction called "an accounting method of
analysis."
This is from Part II Chapter II of *Social Credit*:-
[Douglas]...It may be noted that both in Europe and
America, there are numerous endeavours being made, and
theories propounded, to explain this fact; which was,
until recently, denied as a fact. The foreword to a
work by H. B. Hastings,* published in America,
remarks:
"By an accounting method of analysis, the conclusion
is reached that the value, at the current retail
price-level, of goods produced far exceeds the flow of
purchasing-power from permanent sources. In other
words, recurring periods of business depression are
shown to be the result of present financial and
business policies.
"The importance of this new method of approach to the
most important of modern economic problems is
self-evident."
* "Costs and Profits."
--------------
--- Triumphofthepast@aol.com wrote:
> Bill has suggested that the National Credit Account
> is modeled on the capital
> account of a single business. The National Dividend
> would then be analogous
> to drawings or dividends.
[snipped]
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