| Subject: | [socialcredit] Time, 1930 | | Date: | Tuesday, December 19, 2006 07:31:41 (-0800) | | From: | William B. Ryan <w_b_ryan @.....com>
|
Time
Posted Monday, Apr. 21, 1930
A + B Theorem
Sirs:
Your recent references to A. R. Orage have greatly
interested admirers of his trenchant critical pen in
his old New Age days. One of the high spots of his
editorship of that weekly was the sponsoring and of
the forcing Douglas "Social Credit Movement" and the
forcing into spectacular journalistic combat of the
famous economic "A plus B" Theorem. This latter
declares that the total purchasing power of the
community only secured by way of wages, salaries and
dividends, is, under the present cost-accounting
system, insufficient to buy back the total products of
industry.
The Douglas analysis was confirmed by the studies of
Foster & Catchings recently used by President Hoover
as a basis of his attack on your unemployment problem.
In Great Britain the movement is gaining much headway,
despite the boycotting influence of the powerful
financial interests. It gains impetus through the
timely advocacy in the British House of Commons by the
Rt. Hon. John Wheatley of proposals for arriving
"Through Consumption to Prosperity."
The pregnant appeal of the movement is due to its
recognition that the economic difficulty is a
mathematical, not a moral difficulty, and that many of
the popular panaceas advanced, like Socialism and
Communism, are as futile as the efforts of a society
for the prevention of spots in smallpox which refused
to take any cognizance of the smallpox germ.
Major Douglas presented a paper at the recent World
Engineering Congress at Tokyo in which he expounded
the fallacy of Socialists and Communists that the rich
are rich because the poor are poor.
W. DIAMOND
Saskatoon, Sask.
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Time, 1930
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