Replies are inserted [reply] below: --------------------------------- From: [EMAIL PROTECTED] ([EMAIL PROTECTED]) Subject: Re: How Robots Will Steal Your Job
On 18 Aug 2003 07:36:33 -0700, [EMAIL PROTECTED] (Bill Ryan) wrote: >The solution is >to supplement earned incomes with unearned dividends >paid from the increasing national credit. "National credit"? Credit has to be paid back. --------------------------------- [reply] Credit in the form of credit to your account that you might draw down does not necessitate repayment. The phone company credits your bill after you complain about something. Nothing has to be repaid. It is an expense charged to good will that takes nothing away from anybody. -- The solution is to first understand that "unearned" income is in fact earned -- just by people other than the recipient. Roy L --------------------------------- [reply] What we have inherited from our ancestors may or may not have been "earned" by our ancestors. It was certainly not "earned" by those now living. What is gained through the increment of association between those now living is not "earned" by any one of us individually. [see note below] Production includes the production of a great deal more than the physical capital we see and the goods we consume: It includes what we don't see--unrealized productive capacity from discovery, invention and technology--that accrues to the national credit account, from which dividends might be paid that would draw on that capacity. Excerpting from *Credit-Power and Democracy* published eighty-three years ago: "...We have already seen that the only possible basis of *real* credit is a belief, amounting to knowledge, in the correctness of the credit-estimate of a society, with all its resources, to deliver goods and services at a certain rate. If we made this basis our *financial* basis, then the credit-structure erected on it can only be destroyed by social suicide--by the refusal of the community to function. Now, one of the components of the capacity of a society to *deliver* goods and services *is the existence of an effective demand* for those goods and services. It is not the very slightest use, under existing conditions, that there are thousands of most excellent houses vacant in this country, when the cost of living in them totally exceeds the effective financial demand of the individuals who would like to live in them. The houses are there, and the people are there, but the delivery does not take place. *The business of a modern and effective financial system is to issue credit to the consumer, up to the limit of the productive capacity of the producer, so that either the consumers' real demand is satiated, or the producers' capacity is exhausted, whichever happens first.* "This can obviously be done by making issues of purchasing-power to cover the whole estimated productive capacity, and taking it back to the extent that this capacity is diminished from any cause whatever, a state of affairs which rapidly results in making everyone 'rich' in the current sense of the term; which, it should be clearly borne in mind, does not at all mean that an individual's real consumption is large--very often quite the contrary--but that the individual in question has the mechanism at hand by which to obtain what he does want..." -- [Note] We indeed earn what we individually contribute to the productive process. The A + B theorem is that we are paid (wages, salaries and corporate dividends) increasingly *less* than the costs of production of that which is produced for sale (which is less than what could be produced and sold if we were fully paid) with continuing labor displacement. That is to say, we collectively are paid *less* than what we are in fact earning, thereby immobilizing an increasing percentage of capacity that is increasing. The problem goes far beyond mere equitable distribution--which keeps the economy in the permanent state of under capacity. The utilization of productive capacity is a function of real demand made effective through the national dividend drawn on the national credit account. The dividend is "unearned" in the sense it is not tied to formal "employment." [EMAIL PROTECTED] wrote in message news:<[EMAIL PROTECTED]>... > On 18 Aug 2003 07:36:33 -0700, [EMAIL PROTECTED] (Bill Ryan) > wrote: [snipped] ____________________________________________________________ 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 --^----------------------------------------------------------------
