|Subject:||[socialcredit] Douglas Ottawa: Final - Part 7|
|Date:||Saturday, October 14, 2006 11:41:32 (-0700)|
|From:||MODERATOR <socredus @.....com>
[Major Douglas continues]
I think if you will take that instance that I gave you
of the motor car which you had a discount of $500 on,
you will see what is meant. The discount of $500 on a
motor car on which the costs were $2,000, is based on
the assumption that the estimate of actual concrete
and possible potential production over a given period,
bears the ratio to actual consumption of 20 to 15.
That is to say, that you could have or did, just as
you like to put it, for your own purposes, produce
over a given period $2,000 worth of stuff and through
the processes of consumption and depreciation and all
sorts of things of that sort you used up only $1,500.
Now, the question is what did that $500 represent? It
represents chiefly capital production during that
period, and the discount which you have given off the
price of a motor car enables the community to get it
to invest, to exchange their dollars retained in this
way for bonds which represent a holding in the capital
of the country, and that is the way in which you get a
general community control on the real capital of the
country, which is the plant and so forth; and that is
the way in which by the interest on that capital you
can provide a purchasing power for the people who as
the progress of science marches on will inevitably be
displaced from the ordinary economic processes of
production. The whole trend of progress is to displace
labour, and you have got to find some method by which
these people are provided with purchasing power
without going through the process of production; and
that is the suggestion which is made in that relation.
That is all I have to say.
[End of Douglas testimony]
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