|Subject:||Re: [socialcredit] The Use of Social Credit|
|Date:||Monday, February 11, 2008 20:36:56 (-0500)|
|From:||Joe Thomson <thomsonhiyu @....ca>
|In reply to:||Message 5255 (written by william_b_ryan)|
(Bill Ryan wrote:-) I am interested in having any other interpretations
that anyone might have of this quotation from Douglas
(Joe asks:-) Could this be an alternative method to having the more
familiar mechanisms suggested for the Compensated Price Discount?
----- Original Message -----
Sent: Monday, February 11, 2008 2:00 PM
Subject: [socialcredit] The Use of Social Credit
> This is from Douglas' address from 1935, entitled,
> "The Use of Social Credit":-
> "...the first objective of Social Credit is to provide
> sufficient money to meet these charges which occur in
> ultimate products as the result of the existence of
> industrial assets. One of the methods by which it is
> proposed to do this is to take the charge for
> industrial assets out of prices and pay it direct to
> the owner of the assets. Instead of taxing him in
> money for the possession of industrial assets we
> should, on behalf of the consumer, pay him for the use
> of them. That is not essential to the theory, but it
> is a quite possible way of dealing with the situation.
> The real beneficiary, it should be noted, is the
> consumer, who gets lower prices."
> Essentially, in my opinion, what Douglas is suggesting
> here is that depreciation charges are to be reimbursed
> to the firms in the form of credits from the National
> Credit Account, as depreciation is incurred through
> the conventions of accounting. The firms' incomes are
> thereby increased as expense is charged against gross
> income, thereby increasing the firms' rates of profit.
> Presumably, competition between the firms will reduce
> prices, though not necessarily dollar for dollar,
> charged to final consumers in the process.
> I am interested in having any other interpretations
> that anyone might have of this quotation from Douglas.
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