Addendum: It could in fact be argued that constraining the money supply, so that what ought to and needs to be done in the nation cannot be done or is significantly delayed causing harm to some segment of the people, the United States constitution has in fact been violated by the government. Furthermore, where fear of "inflation" is voiced as the reason for constraining money supply below the levels that would meet the needs of all the people, that adds to the contravention of the constitution's intent in regard to government's proper constitutional role. In fact the failure to provide sufficient fiscal means such that what ought to be done for the sake of the welfare, meaning well being, of the people, where money supply is constrained, could be construed a criminal act by government. Government's responsibility, under the constitution, would thus be to control inflation by means of regulation of the market, such that price increases are constrained by proper legislation, allowing adequate supply of fiscal means without recourse to the argument that "inflation" would damage the economy and in the false claim that fiscal constraint to fight inflation is the greater good, rather than the immediate and long term good of the well being of the people.
Where the same policy of fiscal constraint as an alleged means of fighting "inflation" of prices is promoted in the world economic community it is argued that were serious harm or death is resulting from that practice, crimes against humanity are being committed. Similarly where money supply is being constrained as the method for controlling "inflation", such that future quality of life, including serious harm to future populations affected by that constraint, occur that that too involves crimes against humanity. Here is the original article: Morpheal’s Commentary - March 30th, 2009 - G20 and Inflation Worries (Pandering Inflation as the a Crime Against Humanity), And Water Water Everywhere But Not a Drop to Drink (An example of Values Economics). INFLATION WORRIES ARE ONLY THE EMPEROR’S NEW CLOTHES: One of the primary arguments against provision of the fiscal means to do what ought to be done in the world economy has persistently been "inflation". That too is a false belief, no more real than the emperor's new clothes. The emperor, in the famous story, had no clothes whatsoever. It was only baseless irrational belief that made it otherwise. What is necessary is price regulation, where increases in price are dictated by governing rules that clearly stipulate when and by how much prices can be raised. Price regulation is an intrinsic necessity in any real and true science of economics. You cannot do it otherwise or you get what you see happening across the span of nearly 50 years of small and large economic disasters along with a deteriorating environmental and human condition, due to “lack of means”. The fear of introducing more piles of printed paper (money) has persistently been driven by the entirely false idea that introducing more fiscal means necessarily leads to skyrocketing, inflated, prices. The fact is that inflation is only a worry in the failed "free" enterprise mentality of anarchic vicious greed driven cycles where there are no rules to govern the system, but instead it is presumed to be self governing. Nothing could be further from the truth and the emperors of the economy had better get some clothes on, because they are naked in the light of any true economic science. The idea that if we were to do what the world needs doing, and if we were to have full and meaningful opportunities for all who are able to participate in the activities of society, comprising its culture and its economy, we would have unacceptable inflation of prices, is purely a greed driven lie that must perish as such, never to be mentioned again. It is an excuse to allow excessive profiteering, and victimization, not a natural law of economic practice. Pandering fears of inflation is also a absolutely criminal excuse, in terms of “crimes against humanity”, for governance and society’s economic participants, not doing an immense part of what is necessary, and what ought to be done, in the world, for the sake of humanity’s future, quality of future life and the quality of the environment that humanity lives in and shall live in in the future.. UK WATER CZAR BELIEVES HE IS SHORT OF WATER (A Lesson in Values Economics): Mr. Ian Barker, a water czar in the UK, says that England and Wales are going to be short of water. That is of course, entirely incorrect and demonstrates another instance of the difference between today’s prevalent modes of economic thinking and “value economics”. There can be no real shortage of water when there is what amounts to an infinite body of water surrounding an island, no matter how large that island chances to be. We have desalination technology and we have pumps and pipes. There is no lack of water and there cannot be any lack of water into the future. Not unless we empty the oceans. If you use a traditional cost accounting model you do run into problems, but they are paper, not real problems. In value economics, you build the equipment you need to get the water, from where it is, how it is, to where it is needed, in the condition it is needed in. The value of having that water is the basis of the decision, and supercedes all other considerations, even if you do make decisions based on the most cost effective means. Cost, however, then includes the total environmental and human impact of the decisions you are making and implementing, without cost based constraints on what are ultimately values based considerations. So, Mr. Barker is not really short of water, but he is short of an understanding of what must become a rational science of economics. Remember, it only takes piles of printed pieces of paper, to build a desalination plant, pipes and pumps. We have all the other materials and resources to do it. We even have the technology. Values economics does not accept the argument that we have no piles of printed pieces of paper, when we have a need that can be med with our other resources. Vales economics does not accept the argument that we, on Earth, have water, water everywhere but not a drop to drink. What we have is simply a lack of piles of printed pieces of paper. So you see, the water Czar, Mr. Barker, is not at all worried about the availability of water, but is worried about piles of printed pieces of paper. The trouble is that he has not really realized that fact. When he shakes loose from the idea that piles of printed paper have been his only concern, and starts thinking about water again, it will be like a sudden burst of enlightenment. There is plenty of water. There is no lack of H2O. 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