| Subject: | Re: [socialcredit] most unfair | | Date: | Wednesday, December 14, 2005 08:13:21 (-0800) | | From: | William B. Ryan <w_b_ryan @.....com>
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| In reply to: | Message 3212 (written by Triumphofthepast) |
But your peculiar "straightforward" reading is that
the economy is not already creditary in Douglas's
estimation because he uses the word "shall" in
Swanwick. The marvelous theorem in *Social Credit*
quite contemporaneous to Swanwick that loans create
deposits is the simple recognition that loans do not
derive from savings and haven't done so for centuries,
in the macroeconomic rather than individual sense.
The Post Keynesians picked up on that only in the
1980s, six decades after Douglas put his thoughts to
paper. Thank God he didn't fret over every nitpickity
detail of grammatical "nuance" according to Lane in
the legacy he left us, or he might not have written
anything. The Post Keynesians might not have picked
up on it and the state of economic knowledge would be
even further regressed today than it is. I assure you
that much remains to be discovered in Douglas to
accelerate the learning curve of mankind.
Why not join us in that quest?
--- Triumphofthepast@aol.com wrote:
"take some statement or sentence in isolation out of
context from any author, and read something into it .
. . in hypercritical interpretation of grammar, syntax
and specific choice of words." (Bill)
A most unfair accusation, since my treatment of the
Swanwick Principles in Triumph of the Past that
initiated this discussion, is FULL OF CONTEXT relating
to the whole Douglas corpus -- context that is being
largely ignored by the discussants, who choose to
focus on the Swanwick section alone. The context
amply confirms that the simple, straightforward
reading of the Principles is the correct one.
Michael
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