These are good questions. I have inserted some brief comments below [comment]
Date: Tue, 29 Jul 2003 14:42:44 -0000 From: "Bernard Daly" <[EMAIL PROTECTED]> Subject: [LibDem_SocialCredit] What If? If under social credit government makes up the shortfall in demand for home produced products by issuing money, then distributing this money in the form of a citizens income, will the citizens income vary according to the size of the shortfall? ---------- [comment] The short answer is yes. We should expect the "shortfall" to generally increase as a function of time with labor displacement. Would this not create a good deal of economic uncertainty? ---------- [comment] Just the opposite. Furthermore, what if people spend this citizens inc not on home produced things but foreign goods because of monopolistic conditions in world markets, TV advertising etc. ---------- [comment] That is indeed a problem potentially. At the very least the credits must have limited negotiability in terms of foreign content. But there would remain the problem that the credits intended for spending on domestic production might free up the already existing purchasing power for increased spending on imports or investment overseas, which would negate the intent of the social credits. In the absence of import and capital controls the continuing disbursement of significant volumes of credit could quickly lead to "balance of payments" issues and accelerating inflation in consequence. ____________________________________________________________ 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 --^----------------------------------------------------------------
