Council of Canadians

kenneth.mackendrick at kenneth.mackendrick at
Thu Apr 6 16:33:17 PDT 2000

On Thu, 6 Apr 2000 19:21:35 -0400 Doug Henwood <dhenwood at> wrote:

> I should add that if the point of borrowing from a central bank is to
increase investment, and thereby growth over the long term, then there has to be a diversion of current resources out of consumption.

The point, at least the one that some of the COMER folks advocate, is that the central bank should be used to pay off the debt... then, later (if necessary), to finance public sector stuff (health care, education, food production...). Basically, it is limited to the "material" things that Marx pointed too - sorta a brute materialistic ethic as far as I can tell...


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