Tuesday, 14 July 2015 20:37

Subsidiarity, Distributism, and Social Credit (or Three Acres and a Cow)

Subsidiarity, Distributism, and Social Credit (or Three Acres and a Cow)

“Subsidiarity” is the name given to the principle that a central authority should have a subsidiary function, performing only those tasks which cannot be performed at a more local level.

Published in Social Credit and Catholicism
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Monday, 06 July 2015 20:30

Laudato Si and Missed Opportunities

Laudato Si and Missed Opportunities

The latest encyclical, Laudato Si, is generating a great deal of heat both inside and outside of the Catholic Church – and more heat than light I am afraid. Instead of discussing the various and, in some cases, quite serious scientific, philosophical, and theological concerns that a number of commentators have raised in reference to it (consider, for example, the following interview with Chris Ferrara:

Published in Social Credit and Catholicism
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Thursday, 16 October 2014 20:19

A Review of "The Economics of Social Credit and Catholic Social Teaching"

A Review of "The Economics of Social Credit and Catholic Social Teaching"

The following review of my booklet The Economics of Social Credit and Catholic Social Teaching was recently published by James Reed in Australia:

Published in Social Credit and Catholicism
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Latest Articles

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    In The Monopoly of Credit (1931), C.H. Douglas presents his second proof for the A+B theorem, arguing that the two core accountancy cycles of an industrial economy: the creation and destruction of money (Cycle 1) and the creation and liquidation of costs (Cycle 2) are misaligned, resulting in a systemic deficiency in purchasing power. The money cycle (Cycle 1) operates at a faster pace than the cost creation and liquidation cycle (Cycle 2), creating a gap between prices and purchasing power that widens with greater dyssynchrony and narrows with greater synchrony. Indeed, if the cycles were perfectly aligned, money creation/spending and cost creation/liquidation would occur simultaneously, eliminating the gap entirely. [1] C.H. Douglas, The Monopoly of Credit 4th edition (Sudbury, England: Bloomfield Books, 1979), 46-50.
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    Recently, perhaps as a result of some interactions on social media, it has occurred to me that the best angle for approaching the Douglas Social Credit analysis and proposals for the benefit of those on the conventional right of the economic and political spectra is to frame Douglas’ stance in terms of the concept of market failure. To the question: “What is Douglas Social Credit all about?”, we can respond as follows: Douglas Social Credit is an economic model that is based on a diagnosis and a set of prescriptions. The diagnosis is that the number one cause of economic failure is a specific category of market failure, and the number one cause of the market failure in question is the existing financial system.[1] The remedy is to reform the financial system, to correct its faulty design in such way that not only will it no longer interfere with the…
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    Social Crediters have repeatedly warned that there is a chronic economic cause, entirely artificial in nature and, therefore, unnecessary, which inexorably leads nations to take up arms against each other.
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