Not a buildup of goods--that wasn't the proposition. Producers cut back on production and sell at some price what has been produced.
The debt steadily increases until the bubble bursts and cancels the debt. The Bank of Japan is contemplating purchasing and writing off the inventory of "non-performing loans" held by the commercial banks to reinvigorate their economy. -- --------- Original Message --------- DATE: Tue, 24 Jun 2003 23:00:15 From: [EMAIL PROTECTED] To: [EMAIL PROTECTED] Cc: >Douglas� theorem suggests that without his proposed remedy, there would be a >steady build-up of goods --- �Price� and a corresponding displacement of >labour. Since his remedy has never been applied (other than partially, and >for a short while only, in one state in Canada), can anyone show me that >there is an accumulation of un-purchased goods in the world? Also, are there >any statistics to show that the proportion of �unemployed� is any greater now >than, say, the period immediately before the Industrial Revolution? > >I suppose I should also ask if there is in fact a large, and steadily >increasing, value of unliquidated loans in the banking system? > >Jessop. >----------------------------------------- > >On Tuesday 24 Jun 2003 6:09 am, Ekky Irion wrote: >> Douglas having discovered the covert mechanism that ..." in the context of >> the A+B theorem, which assumes that income is normally insufficient to >> amortize debt, not because of interest, but because of labor displacement". >> . "The A+B theorem demonstrates that they would have it if it [money] were >> not for labor displacement. Furthermore, the theorem demonstrates that >> loans cannot self-liquidate in the presence of labor displacement even at a >> zero rate of interest." ____________________________________________________________ Get advanced SPAM filtering on Webmail or POP Mail ... Get Lycos Mail! http://login.mail.lycos.com/r/referral?aid=27005 ==^================================================================ This email was sent to: [EMAIL PROTECTED] EASY UNSUBSCRIBE click here: http://topica.com/u/?a84IaC.bcVIgP.YXJjaGl2 Or send an email to: [EMAIL PROTECTED] TOPICA - Start your own email discussion group. FREE! http://www.topica.com/partner/tag02/create/index2.html ==^================================================================
