| Subject: | Re: [socialcredit] social credit: over and weakly stated | | Date: | Saturday, August 2, 2008 14:05:52 (+0200) | | From: | Swieto Radosci <radosc @........pl>
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| In reply to: | Message 5480 (written by william_b_ryan) |
wb ryan wrote:
"Professional economists once took the Social Credit argument seriously, and
devoted chapters in their books refuting the Social Credit argument for endemic
underconsumption."
Maybe they argued well against A +B theorem from their perspective, but it
doesn't mean that underconsumption is not a problem these days. Underconsumption
stems not only from propaganda of consumption, but mostly from high and growing
inequalities in private incomes. We have built a new pyramid of those who have
too much capital to could consciously manage it centrally for the betterment of
the world, and those who have too much debts to manage them rationally with the
guidance of those those who have too much capital.
Speaking about average quotas in economy makes little sense because their
distribution within a population really matters when considering "endemic
underconsumption". Endemic misdistribution of wealth makes pyramid higher and
higher and permanent underconsumption hard psychological fact. The continuing
build-up of a pyramid was lastly demonstrated here: http://online.wsj.com/article/SB121677287690575589.html
Kristof Levandovski
william_b_ryan@yahoo.com pisze:
> Wally Klinck has recently very graciously circulated photocopies of Maurice Colbourne's *The Meaning of Social Credit*, which, under a different title, is reportedly the book that inspired Aberhart to adopt Social Credit, thereby changing world history.
>
> It contains the typical seventy-five percent retail discount assertion that, in my estimation, is so overstated as to be ridiculous. A definite turn-off to people with ordinary common sense and education. In this proposal new money is being created by the credit authority in the amount of seventy-five percent of retail sales. One wonders where all the money is going and how this could not result in massive inflation. A more realistic discount I think would be on the order of no more than 2.5 percent, so the Social Credit proposal is overstated at least by a factor of 30 to 1.
>
> Another problem is the weakly stated A + B theorem. The following statement is typical:
>
> "The essential problem is that the consumer is charged in prices, quite properly, with capital depreciation, but, quite wrongly, not credited with capital appreciation."
>
> I don't even know what this is supposed to mean. What, for example, is meant by "capital appreciation"? One would suppose that somehow the dividend and discount is the crediting to consumers of "capital appreciation." One thing for sure, this is not the justification for the dividend and discount given in Chapter 10 of *Credit-Power and Democracy*.
> http://geocities.com/socredus/compendium/chapter10.txt
>
> Social Crediters had decades to firm up their argument in terms that made sense. Professional economists once took the Social Credit argument seriously, and devoted chapters in their books refuting the Social Credit argument for endemic underconsumption. The famous economist the late Robert Heilbronner devoted chapters in his macroeconomic college textbooks until he stopped publishing textbooks in the 1990s. During the past fifteen years, for the first period since 1918, professional economists have completely ignored Social Credit. I think the reason for this for the large part is the lack of anything new from that camp. They have said everything they are going to say on the matter until something new comes along.
>
> In fact, perhaps the strongest argument for A + B ever presented is not from anyone identified with the Social Credit movement, but the obscure P. W. Martin in 1924.
> http://geocities.com/new_economics/martin-douglasist
>
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