Council of Canadians - credit question

Max Sawicky sawicky at epinet.org
Mon Apr 10 13:06:46 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
>>>

Precisely. It's a real resource transfer.

mbs



More information about the lbo-talk mailing list