| Subject: | Re: [socialcredit] Social Credit and Inflation--and related issues | | Date: | Thursday, February 9, 2006 16:40:00 (+0000) | | From: | Kenneth Palmerton <kenpalmerton @................uk>
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In-Reply-To: <00aa01c62844$b0b3d320$6400a8c0@cdv73pbgpo6eny>
Hi Wallace.
For a very long time I have been of the opinion that economists do NOT
understand "inflation". Even their attempts to describe it, and offer a
definition leave me much less than convinced of their competence.
They seem to offer no logical explanation of why prices rise.
I have sat with fellow directors of a manufacturing company around our
board room table looking at each other wondering if our competitors would
let us get away with a price rise of our products.
This was not so much an exercise in maximising our profits, as trying
desperately to cover our costs. This I believe is a common scenario,
common to most companies in mature markets.
Coming to understand later the rightness of A+B has helped, with its
reference to purchasing power, which was the other thing we Directors
agonised over. Would our customers have the money in their pockets when
they chose our products ?
This enlightenment came too late for me and mine I fear :-))
Ken.
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