In-Reply-To: <831ED24E-9704-4225-B6F1-9656B6ADE898@oxfordshirecommunitylandtru-
sts.org.uk>
That's another bit of gobbledegook that wont do either Jock :-(
Just because a price is raised does not imply that there is an automatic
increase in the money supply.
Money supply and price rise are unconnected events, despite the so called
economic "scientists " protesting their worth.
Part of my complaint about the role of the State in our economic, or
rather monetary affairs is that NO ONE takes on the role of equating the
two, our money supply, and our available wealth for consumption. So we
stumble on with needs un met, and available wealth un used.
Not a happy situation. And no party recognises the opportunity :-(((
Ken.
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From: Jock Coats <jock.coats@oxfordshirecommunitylandtrusts.org.uk>
Date: Mon, 13 Feb 2006 13:48:25 +0000
To: socialcredit@elistas.com
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Subject: Re: [socialcredit] Definition of inflation
X-Envelope-To: kenpalmerton@cixcouk.cix.co.uk
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I think the dictionary is being very "traditional" actually.
Inflation, it seems to me, has traditionally been monetary rather
than price. Devaluation of a currency is caused by the inflation
(creating more of) that currency and you deflate it, withdrawing
money, to redress that.
The Oxford English Dictionary makes that clearer:
6. Great or undue expansion or enlargement; increase beyond proper
limits; esp. of prices, the issue of paper money, etc. spec. An undue
increase in the quantity of money in relation to the goods available
for purchase; (in lay use) an inordinate rise in prices.
(ie in lay use it's used to mean a price hike, in other contexts a
growth in the currency in issue).
No?
Jock
On 13 Feb 2006, at 05:04, John G Rawson wrote:
> Then where does the accepted "cost push inflation" fit in?
>
> And I repeat, it is measured as price rises, with no relation to
> money supply. Perhaps the dictionary is being a little impractical
> in this case?
>
> Regards. John R.
>
> From: "Daniel Morin" <dan@danmorin.com>
> Reply-To: socialcredit@elistas.com
> To: <socialcredit@elistas.com>
> Subject: RE: [socialcredit] Definition of inflation
> Date: Sun, 12 Feb 2006 21:01:58 -0500
>
> Before making your own definition of inflation to fit your A+B
> model, here is the definition of Inflation according to my Webster
> Dictionary:
>
> "An increase in the volume of money and credit relative to
> available goods and services resulting in a continuing rise in the
> general price level."
>
> Source: Webster Collegial Dictionary, 1996.
> -----Original Message-----
> From: John G Rawson [mailto:johngrawson@hotmail.com]
> Sent: Sunday, February 12, 2006 3:02 PM
> To: socialcredit@elistas.com
> Subject: Re: [socialcredit] Social Credit and Inflation--and
> related issues
>
> First, define inflation. Invariably, it is measured as "rising
> prices", which therefore that is my, and I think our Party's,
> definition of it. It may be caused by "too much money ...", when
> it is "demand-pull inflation", or by other factors (e.g. rising oil
> prices or higher interest rates) when it is "cost-push inflation".
>
> And, once again, the A+B model postulates as a corollary that we
> have cost-push inflation more than demand-pull. "There are factors
> in the economy (B costs) that push the cost of goods above the
> level of consumer purchasing power." So of course economists who
> deny the Douglas analkysis don't understand where inflation is
> coming from.
>
> Regards. John R.
>
> From: "W. McGunnigle" <wmcgunn@maxnet.co.nz>
> Reply-To: socialcredit@elistas.com
> To: <socialcredit@elistas.com>
> Subject: Re: [socialcredit] Social Credit and Inflation--and
> related issues
> Date: Sun, 12 Feb 2006 23:04:53 +1300
> >Hi Kenneth
> > I had not really considered that question of "inflation"
> >as it operated in our economy, but was intrigued by your comment that
> >socalled "economic experts" have never produced a really
> satisfactory answer
> >as to why it happens. I find that, on reflection, all their
> "explanations"
> >appear to be waffle with little or no substance to back up their
> comments.
> >They are very good at manipulating figures, but very short on
> statisdtical
> >analysis of those figures. They always have an excuse as to why their
> >forecasts are incorrect. My youngest brother has a theory that
> inflation has
> >nothing to do with money or product availablity, but is the direct
> result of
> >propaganda perpetrated by banking organisations who encourage price
> >increases by simply stating that inflation is increasing and
> prices must
> >increase to compensate for it. They don't have to state any
> reasons, but
> >simply create an atmosphere whereby price increases are accepted.
> Inflation,
> >i.e. increased costs for goods and services, follows on as a self-
> induced,
> >self-fullfilling prophesy. Effectively "inflation" is a mind set
> rather
> >than an economic consequence. I cannot see how this can be
> quantified, but I
> >can see the logic in his argument. It certainly explains the
> "stagflation"
> >phenomena where costs still increased despite falling industrial
> production
> >and increasing unemployment.
> > Bill Mc Gunnigle
> >----- Original Message -----
> >From: "Kenneth Palmerton" <kenpalmerton@cix.compulink.co.uk>
> >To: <socialcredit@elistas.com>
> >Cc: <kenpalmerton@cix.compulink.co.uk>
> >Sent: Friday, February 10, 2006 5:40 AM
> >Subject: Re: [socialcredit] Social Credit and Inflation--and
> related issues
> >
> >
> > > 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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--
Jock Coats - Chair, Oxfordshire Community Land Trusts
c/o Warden's Flat 1e, J Block Morrell Hall, OXFORD, OX3 0FF
w: +44 (0)1865 483353 h: +44 (0)1865 485019
m: +44 (0)7769 695767 e: jock.coats@oclt.org.uk
www: http://www.oclt.org.uk/ - http://jockcoats.blogspot.com/
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