Chick was the only one to respond to an invitation of mine to comment on the peculiar challenges of implementing social credit in a mini-nation. He says that every nation with agricultural capabilities should be self-sufficient and trade "should be only a side issue."
I can't really agree, for this implies that a mini-nation that can grow its own food must set its standard of living as--eating. If it cannot make telephones, it must not have any, etc.
Trying to envisage social credit in a small nation is a valuable exercise because it forces us to elaborate the foreign trade side of social credit, which isn't usually explained beyond "Exports pay for imports." It's the correct rule, but it's complex in implementation. If you think about a clearly non-self-sufficient unit, you realize that money both enters and leaves the country for consumer goods, for capital goods, and for labor, leading to a complex situation that deserves more comment by social crediters than it has so far got.
Economically, a city is in the same position as a mini-nation.
(And no, Chick, no tax is needed to withdraw money from circulation. I think you are imagining the government watching the cpi and increasing or decreasing the money supply to keep the cpi steady. That is not social credit. Money is withdrawn from circulation as yesterday's loans are repaid, and the net amount of money in circulation can decrease if today's loan is less thanks to cheaper production. No tax should be required at all, since the minimal funds required by government in a healty society can be taken out of the dividend before it is paid.)
Michael Lane
Triumph of the Past
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