I have archived at http://www.geocities.com/socredus/joseph-1934.txt A. W. Joseph's 1934 address which was published in 1935 with this forward from C. H. Douglas:
FOREWORD The famous division of Gaul into three parts has its reflection in the aspects of monetary reform. There is the political aspect, the ethical aspect, and the technical aspect. The two first of these offer in many ways more emotional attractions than does the third, and for this reason as well as for its conciseness and mathematical soundness I feel that Mr. Joseph's little pamphlet fills a want in the Social Credit Movement. I am confident that it will receive both the circulation and attention which it so fully deserves. C. H. DOUGLAS. TEMPLE, February 23rd, 1935. ---------------------- This is Joseph's mathematical argument: We can divide factories into those making consumable goods and those producing either capital equipment or goods which are incomplete. Let A1+B1 be the costs in a period to time of articles produced by factories making consumable goods divided up into A1 costs which refer to money paid to individuals by means of salaries, wages, dividends, etc., and B1 costs which refer to money paid to other institutions. Let A2, B2 be the corresponding costs of factories producing capital equipment. The money distributed to individuals is A1+A2 and the cost of final consumable goods is A1+B1. If money in the hands of the public is to be equal to the costs of consumable articles produced then A1+A2=A1+B1 and therefore A2=B1. Now modern science has brought us to the stage where machines are more and more taking the place of human labour in producing goods, i.e., A1 is becoming less important relatively to B1 and A2 less important relatively to B2. In symbols if B1/A1=k1 and B2/A2=k2 both k1 and k2 are increasing. Since A2=B1, this means that A2+B2/A1+B1=(1+k2)A2/(1+1/k1)B1=1+k2/(1+1/k1) which is increasing. Thus in order that the economic system should keep working it is essential that capital goods should be produced in ever increasing quantity relatively to consumable goods. As soon as the ratio of capital goods to consumable goods slakens, costs exceed money distributed, i.e., the consumer is unable to purchase the consumable goods coming on the market. _____________________________________________________________ Get 25MB, POP3, Spam Filtering with LYCOS MAIL PLUS for $19.95/year. http://login.mail.lycos.com/brandPage.shtml?pageId=plus&ref=lmtplus ==^================================================================ 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 ==^================================================================
