Yes, but the particular set of rules is a human construct. It is something other than a natural phenomenon, awaiting discovery. The market in which there is undeniably a "hidden hand" is the function of that human construct that we can improve by consciously changing the rules.
The focus of attention for social credit is the financial system, or more specifically the banking or monetary system. We attribute most market failure not to free enterprise per se, but the financial system under which free enterprise operates. So we generally support laissez-faire in markets but intervention in finance.
Unlike Keynesians or socialists, we advocate the payment of dividends directly to consumers and let them decide themselves how they will spend it.
We assume that Say's Law is invalid in anything other than a barter economy.
--
----Original Message Follows---- From: Pat Gunning <[EMAIL PROTECTED]> Reply-To: [EMAIL PROTECTED] To: [EMAIL PROTECTED] Subject: [SOCIAL CREDIT] Permanently abundant resources? Date: Sun, 26 Oct 2003 09:52:09 +0800
[EMAIL PROTECTED] wrote:
The new approach to economics is premised on the facts that resources are permanently abundant and the physical capacity to consume is permanently limited.
Resources become abundant through continuing discovery, development and innovation.
William, would you go on to say that the discovery, development and innovation are premised on the existence of a particular kind of economic system, or set of rules for action? And that without those rules, resources would not become abundant.
--
Pat Gunning, Feng Chia University, Taiwan;
Web pages on Praxeological Economics, Democracy, Taiwan, Ludwig von Mises, Austrian
Economics, and my University Classes; http://www.constitution.org/pd/gunning/welcome.htm
and
http://knight.fcu.edu.tw/~gunning/welcome.htm
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