If economic democracy is important to you then have a look at these videos to hear what US politician Dennis Kucinich has to say about
the bank bailouts in the USA. The first video is a quick one minute overview. The second is his one hour speech on the subject. I would highly recommend anyone to listen to him. At about 40 minutes in, he discusses Stephen Zarlenga and his monetary reform proposal which can download from Zarlenga's website http://www.monetary.org/amacolorpamphlet.pdf
Friday, 6 February 2009
A US politician that makes economic sense
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4 comments:
This is one politician that makes a lot of sense and wants to see some sensible monetary reform. We need someone like this in New Zealand.
These guys are just talking old Social Credit nonsense which would never work in this day and age and has never been proved to work anywhere. It didn't do much for Alberta, Canada.
Douglas warned against seeing Social Credit just as an instrument of monetary reform .
It is important to remember that the British Columbia & Alberta Parties were Provincial governments only - they didn't have the power to create credit. However , they did apply Social Credit philosophy. The Alberta Social Credit Party today has as its first principle that "the individual is the most important factor in organised society ... and has inalienable rights which must be respected & preserved " &
"Whatever is physically possible and desirable, and morally right, should be made financially possible." These principles translated into a fiscal & economic policy that made the 2 Provinces the envy of Canada for standard of living .
Another party called the Social Credit Party of Canada contested the federal seats , but didn't manage to beat the military-industrial might of its neighbour , America , which saw only conventional governments elected. There were Social Credit MP's in the Canadian Parliament from 1935 to 1980. Unfortunately, the party splintered along cultural grounds after this , but it is still a strong non party political force in a branch of the Catholic Church in Quebec .
The essence of Social Credit philosophy is to make the individual INDEPENDENT of the State & to give the individual REAL choice . To this end , a government applying Social Credit philosophy can be expected to produce some of the types of RESULTS we see in Alberta progressively since 1935 & even today e.g. Alberta has the lowest rate of state tax in Canada ( a flat 10% on all income over about NZ$27,000 ) , while still having the best funded per capita public health system in Canada .
Maybe that is true about only being a provincial government but the trouble with Social Credit theory is... "on one side of their A+B equation they count an item only once, on the other side they unknowingly count the same item several times over." To quote author Henry Hazlitt in his book 'Economics in one lesson'
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