Council of Canadians - credit question

Doug Henwood dhenwood at panix.com
Mon Apr 10 12:34:24 PDT 2000


Max Sawicky wrote:


>An extension of credit with no offsetting expansion in
>productivity capacity may be inflationary, but the money
>is far from worthless on that account.

But it depreciates the rest of the existing stock of money.

Doug



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