And to an even greater extent in Zimbabwe... MG -----Original Message----- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] On Behalf Of Cordell, Arthur: ECOM Sent: August 15, 2008 8:27 AM To: [EMAIL PROTECTED] Cc: futurework Subject: RE: [Ottawadissenters] Some of you may be interested
Something similar (but to a far lesser extent) may be going on now in the US. arthur _____ From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] On Behalf Of Ed Weick Sent: Friday, August 15, 2008 10:15 AM To: [EMAIL PROTECTED] Cc: futurework Subject: [Ottawadissenters] Some of you may be interested A few days ago I posted a review of an essay by Ivan Illich which dealt with the "shadow economy" and the "subsistence economy". Essentially, Illich argued that the shadow economy consisted of work that is supportive of the market economy -- e.g. housewives doing domestic work in support of husbands working in the market economy -- and should therefore be included in measurements of the market economy, whereas the subsistence economy is an alternative to the market economy and should not be included in such measurements. For want of something better to do, I'm rereading and editing a diary I've kept for some thirty years. During that period, in 1995, I spent a month as a student in Moscow. Russia was a chaotic place in 1995, a mere four years after the collapse of the Soviet state. As the following news item indicates, I encountered another kind of "shadow economy" while there, an immeasurable one which grew rapidly as the market economy, aided and abetted by what was left of the state, rapidly disintegrated. Ed _____ Moscow Times, June 3, 1995 (Geoff Winestock) notes the money supply grew by 25% in April according to a report published by an influential economist, Mikhail Delyagin, of the Presidential Economic Analysis Unit. In the previous three months it had grown only three percent for the whole period. It would appear that much of the recent increase reflects another "burst" of government spending in order to avoid a "social explosion". According to Delyagin, the government needed to compensate the public for a 25% drop in real household incomes that accompanied huge jumps in prices during the winter. Inflation will therefore continue unless the IMF exercises control via the leverage it has with respect to the monthly installments on its $6.8 billion loan (drawing rights?) to Russia and the central bank begins to seriously maintain a low inflation stance. What this suggests is that the government "taxes" by inflation - i.e. if it cannot amass enough money via the tax system, it will do so by printing what money it needs. It spends that money at the currently prevailing price level, but in so doing drives the price level upward and the value of the rouble downward. Those who have the ability to raise their own prices can adjust, those who are on long term contractual arrangements, such as pensioners, cannot. As a method of taxation, inflationary bursts of government spending are extremely regressive. Real-wage incomes continue to fall behind, and more and more people are forced into liquidation or the shadow economy. Wages are currently believed to make up only about half of personal income, the rest coming from the shadow economy. But given the high rate of inflation, even the shadow economy provides little refuge. To maintain real value, prices there must also go up or people must work harder to maintain a livable income. Via printing money and causing inflation, government is not only able to tax the mainstream economy, but the shadow economy as well. __._,_.___ Messages <http://groups.yahoo.com/group/Ottawadissenters/message/8972;_ylc=X3oDMTM1Zj d1cjduBF9TAzk3MzU5NzE0BGdycElkAzE1MjA5MDU5BGdycHNwSWQDMTcwNTA4MzUxMgRtc2dJZA M4OTczBHNlYwNmdHIEc2xrA3Z0cGMEc3RpbWUDMTIxODgxNDA0OQR0cGNJZAM4OTcy> in this topic (2) <http://groups.yahoo.com/group/Ottawadissenters/post;_ylc=X3oDMTJxNjA5OHU1BF 9TAzk3MzU5NzE0BGdycElkAzE1MjA5MDU5BGdycHNwSWQDMTcwNTA4MzUxMgRtc2dJZAM4OTczBH NlYwNmdHIEc2xrA3JwbHkEc3RpbWUDMTIxODgxNDA0OQ--?act=reply&messageNum=8973> Reply (via web post) | Start <http://groups.yahoo.com/group/Ottawadissenters/post;_ylc=X3oDMTJmdWlzZ3YxBF 9TAzk3MzU5NzE0BGdycElkAzE1MjA5MDU5BGdycHNwSWQDMTcwNTA4MzUxMgRzZWMDZnRyBHNsaw NudHBjBHN0aW1lAzEyMTg4MTQwNDk-> a new topic Messages <http://groups.yahoo.com/group/Ottawadissenters/messages;_ylc=X3oDMTJmNXJlYT VnBF9TAzk3MzU5NzE0BGdycElkAzE1MjA5MDU5BGdycHNwSWQDMTcwNTA4MzUxMgRzZWMDZnRyBH NsawNtc2dzBHN0aW1lAzEyMTg4MTQwNDk-> | Files <http://groups.yahoo.com/group/Ottawadissenters/files;_ylc=X3oDMTJnMXJoMGkxB F9TAzk3MzU5NzE0BGdycElkAzE1MjA5MDU5BGdycHNwSWQDMTcwNTA4MzUxMgRzZWMDZnRyBHNsa wNmaWxlcwRzdGltZQMxMjE4ODE0MDQ5> | Photos <http://groups.yahoo.com/group/Ottawadissenters/photos;_ylc=X3oDMTJmc29iNDQw BF9TAzk3MzU5NzE0BGdycElkAzE1MjA5MDU5BGdycHNwSWQDMTcwNTA4MzUxMgRzZWMDZnRyBHNs awNwaG90BHN0aW1lAzEyMTg4MTQwNDk-> | Links <http://groups.yahoo.com/group/Ottawadissenters/links;_ylc=X3oDMTJnbnZsbHRoB F9TAzk3MzU5NzE0BGdycElkAzE1MjA5MDU5BGdycHNwSWQDMTcwNTA4MzUxMgRzZWMDZnRyBHNsa wNsaW5rcwRzdGltZQMxMjE4ODE0MDQ5> | Polls <http://groups.yahoo.com/group/Ottawadissenters/polls;_ylc=X3oDMTJnbGRyNDk2B F9TAzk3MzU5NzE0BGdycElkAzE1MjA5MDU5BGdycHNwSWQDMTcwNTA4MzUxMgRzZWMDZnRyBHNsa wNwb2xscwRzdGltZQMxMjE4ODE0MDQ5> | Members <http://groups.yahoo.com/group/Ottawadissenters/members;_ylc=X3oDMTJmNXYwZXU xBF9TAzk3MzU5NzE0BGdycElkAzE1MjA5MDU5BGdycHNwSWQDMTcwNTA4MzUxMgRzZWMDZnRyBHN sawNtYnJzBHN0aW1lAzEyMTg4MTQwNDk-> | Calendar <http://groups.yahoo.com/group/Ottawadissenters/calendar;_ylc=X3oDMTJlc2xxM3 ZoBF9TAzk3MzU5NzE0BGdycElkAzE1MjA5MDU5BGdycHNwSWQDMTcwNTA4MzUxMgRzZWMDZnRyBH NsawNjYWwEc3RpbWUDMTIxODgxNDA0OQ--> <http://groups.yahoo.com/;_ylc=X3oDMTJlZHE3dmcxBF9TAzk3NDc2NTkwBGdycElkAzE1M jA5MDU5BGdycHNwSWQDMTcwNTA4MzUxMgRzZWMDZnRyBHNsawNnZnAEc3RpbWUDMTIxODgxNDA0O Q--> Yahoo! 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