Re: OWNERSHIP: the phalangism of Michael Bindner

[John Médaille <john@medaille.com>]

At 05:06 AM 9/9/2003 +0000, William B. Ryan wrote:
>***>In theory, there is no limit to the amount of
>productive credits that can be issued, save the
>amount of productive assets that can be created. <***
>
>That is certainly true: what is physically possible
>is (or should be) financially possible.  The problem
>is equating the flow of "price values" to the flow of
>"purchasing power" into the hands of consumers.  The
>two flows do not automatically coincide.  They will
>definitely diverge if there is labor displacement.

I believe what you are saying is at the heart of Social Credit. My problem 
is that I am simply not intelligent enough to understand it. I read a bunch 
of materials (which I believe you sent me) and was on an SC list for 
several months. But the whole thing became less and less intelligible for me.


>***>But consumer credit is usury; it literally "uses
>up" the stock of capital in society without replacing
>it. <***
>
>It is not usury ipso facto.  The false assumption
>here is that there is only so much "credit" divided
>between "investment" and "consumption" and that the
>funds for "investment" derive from withheld
>"consumption."

We are going to have to disagree on what constitutes usury. But it might be 
a good topic of conversation.


John C. Médaille

"A dead thing can go with the stream...
but only a living thing can go against it."
         -G. K. Chesterton
http://www.medaille.com/distributivism.htm
john@medaille.com

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