| Subject: | Re: [socialcredit] saving and production | | Date: | Thursday, May 31, 2007 12:34:11 (-0600) | | From: | Martin Hattersley <hattersleyjm @.........com>
|
| In reply to: | Message 4824 (written by william_b_ryan) |
Yes, Bill -
The only way I can agree with Douglas's "New Credits to finance new
production" approach is to assume that he is dealing with industry's
"working capital" rather than the "fixed capital" of depreciable plant and
equipment. This could well have been a useful recommendation in the
deflationary inter-war period. I don't know that it is a necessity for all
circumstances and times.
Martin Hattersley
5929 - 189 St.,
EDMONTON AB CANADA T6M 2J1
e-mail: jmartinh@shaw.ca
----- Original Message -----
From: <william_b_ryan@yahoo.com>
To: <socialcredit@elistas.com>
Sent: Thursday, May 31, 2007 11:58 AM
Subject: [socialcredit] saving and production
> "My quibble is simply this, how 'That credits required
> to finance production shall (I note the imperative, I
> mistakenly quoted 'should') be supplied not from
> savings but ....' can be translated as 'savings can be
> used to finance some of production'."
> -------------------------------------
> --------------------------------------
> In Douglas' theory the term "production" means
> strictly a rate of production. You might recall that
> Swanwick referred to the financing of "new"
> production. In the Douglas theory new production is
> an increase to the rate of production for the economy
> as a whole. Continuation of production at the current
> rate is not new production, but turnover that might be
> accommodated with a fixed quantity of money or credit.
> New production in the sense that Douglas used the term
> is not even now financed from abstention from
> consumption in the macroeconomic sense, but new
> credit. It probably always has. The social credit
> program would simply rationalize this natural process.
> -
>
> "You have also answered one of Bill's comments to me,
> in pointing out that savings reduce purchasing power.
> That was the basis of my comment that Douglas, at the
> time, would have wanted to reduce one of the factors
> that he had identified as causing a deficiency in
> purchasing power."
> -------------------------------------
> --------------------------------------
> Douglas suggested several reasons why there was a
> "gap" between "prices" and "purchasing power," an
> increase to the rate of saving being one of them. His
> solution to these purely financial anomalies was the
> rationally introduced national dividend and retail
> discount--as ongoing accounting adjustments--such that
> sales match the costs of production being impressed to
> the point of retail.
>
>
>
>
>
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