RE: [SOCIAL CREDIT] Web site Social Credit: http://en.wikipedia.org/wiki/Social_

[Victor Bridger]

The only comment that can be made is that whoever is responsible for the site can be classified in the same category as the con man who claims to be a medical doctor - he is a quack. Calling yourself a Social Crediter does not make you one. The whole article is flawed and would take too much time to refute but a few comments should be sufficient.   Social Credit is not an economic theory Social Credit is not a political party Social Credit never made any such nonsense claim as, "Social Credit theory proposes that because the amount of money available under capitalism is necessarily lower than the total cost of goods produced, there will always be insufficient money to pay a realistic, sustainable price.   The following gibberish is not Social Credit but the usual mishmash of ideas that have been extracted from social Credit and given their own spin: For a "National Credit Office" to calculate on a statistical basis the amount of credit that should be circulating in the economy For a price adjustment mechanism to absorb windfall profits in times of inflation, and return them to people in terms of subsidized, lower prices when the cost of goods on the market exceeds the money available to buy them For a "National Dividend" to give a basic guaranteed income to all regardless of whether or not they have a job Many of Douglas' ideas have since been proven to be failures, but during the depression they were very popular, and seemed to provide common-sense solutions to complicated economic problems. As for the question re 10% May I ask on what basis the 10% was decided? I repeat again the reimbursement to a retailer for discounting his price is NOT a subsidy irrespective of what it may be called by orthodox economists. Vic Bridger       15 Nov 2003 11:17:07 +0800 Speaking of apparently misguided proposals, here's a puzzle. Can anyone solve it? What is wrong with the following proposal? I propose that we increase the quantity of money by just enough to finance a 10% subsidy to retailers of consumer goods. The result, I predict, will be approximately a 10%  decrease in consumer goods prices. (This program is advocated by a movement called "Social Credit." For those who might be interested, here is some background. http://en.wikipedia.org/wiki/Social_Credit Pat Gunning ---------------------------------------- --^^--------------------------------------------------------------- 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 --^^---------------------------------------------------------------