Replies inserted [in reply] ---------- Date: Wed, 30 Jul 2003 13:44:44 +0100 (BST) From: Bernard Daly <[EMAIL PROTECTED]>
"At the very least the credits must have limited negotiability in terms of foreign content. " How on earth do you propose this should be brought about? ---------- [in reply] Technically it is very simple. The negotiability would be limited in the manner of American food stamps, which may be spent only on certain approved items. The difficulty is that subsidies in aid of local content are presently illegal under international trade agreements. -- Exchange controls etc seem very passé and indeed dirigiste (excuse my French). Social credit says money would be simply created on the basis of presumably statistics on the pervious period showing the deficit in demand. ---------- [in reply] Assuming the hypothetically closed economy. -- But one of the problems the Keynesian demand managers of the 60's and 70's found was that of time lags, all running at different paces. Credit created for the previous period might be totally unsuitable for the forthcoming one. ---------- [in reply] The problem with Keynesian-style "demand management" is that it relies on increasing government debt which is inevitably tracked (time lagged) by increasing taxation to amortize the debt or cutting back government services--negating the transient benefit and ultimately compounding the problem. Social Credit "demand management" does not augment debt but rather offsets it so the benefit is permanent. Bill -- --------- Original Message --------- DATE: Wed, 30 Jul 2003 13:44:44 From: Bernard Daly <[EMAIL PROTECTED]> To: [EMAIL PROTECTED] "At the very least the credits must have limited negotiability in terms of foreign content. " How on earth do you propose this should be brought about? Exchange controls etc seem very passe and indeed dirigiste (excuse my French). Social credit says money would be simply created on the basis of presumably statistics on the pervious period showing the deficit in demand. But one of the problems the Keynesian demand managers of the 60's and 70's found was that of time lags, all running at different paces. Credit created for the previous period might be totally insuitable for the forthcoming one. Let me clearly state, I'm not against social credit, just trying to go through it in my own mind to get things clearer. Devil's advocate if you will. ____________________________________________________________ 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 --^----------------------------------------------------------------
