| Subject: | Re: [socialcredit] Definition of inflation | | Date: | Monday, February 13, 2006 21:31:28 (+0000) | | From: | John G Rawson <johngrawson @.......com>
|
I'll put it this way. A thermometer measuires "warming up". It doesn't
matter if someone appends the theory that the warming is due to ice melting in
it, all it measures is the warming, not the cause.
The idea that rising prices are due to increase in the money supply is
theoretical, not part of the definition, no matter how ingrained the theory may
be.
Sci. V. Arts? Let's use logic, not tradition? So must we be more precise and
refer to "price inflation"?
Regards. John R.
From: Jock Coats <jock.coats@oxfordshirecommunitylandtrusts.org.uk>
Reply-To:
socialcredit@elistas.com
To: socialcredit@elistas.com
Subject: Re:
[socialcredit] Definition of inflation
Date: Mon, 13 Feb 2006 13:48:25
+0000
>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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