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Subject:[socialcredit] The "Gap"
Date:Friday, February 15, 2008  20:24:35 (+0000)
From:John G Rawson <johngrawson @.......com>

Bill, I guess I owe you an apology for also sliding off the topic onto side issues. Tendered herewith!
May I atone with some detailed considerations:
Many seem to assume that the "gap" in the whole economy consists simply of the sum of the gaps in each industry. Which would include all reinvestment including depreciation costs, all bank charges, and in part of Douglas' considerations, all charges for raw materials.
Obviously he never studied industries which supply only raw materials, such as forests, mines, quarries and a large proportion of agriculture. For that reason, I believe this factor must be left out of the equation in the larger picture.
When we do come to the whole economy, we must include two other factors with opposite effects: savings by private individuals from wages etc. paid out, and expenditure by banks. In the latter case it must be fair to assume banks pay out around 80% or more of their income in salaries, rent, power and fleet costs etc, while producing no goods. (Their costs have already been accounted via industry).
After that we need to define whether we are considering the deficiency of purchasing power at this stage, or whether we are going to take into account the factors Douglas did recognise which tend to reduce it: wages etc paid out for expansion of industry not yet producing amd for other non-consumer goods such as armaments.
In other words, must a Credit Authority take into account the major "gap" and allow for credits to be set aside for production, or should it deal only with the estimated lesser "gap" and deal only with consumer finance?
Obviously your 3% estimate was based on the later approach?
Regards.
John R.


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