Me: Excellent. Except no mention of the discount which is the key to the business community “buying into” a social credit system and to preventing any demand inflationary creep. The dynamic balancing effect of the dual policies is genius.
JS: Yes, people tend to focus on the dividend and ignore the rebate. I think the purpose was to contrast basic income with the dividend.
Me: Yes, distinguishing that difference and why it should not be financed via re-distributive taxation is important, and yet the effect of the discount is even more important for the two reasons above and more….and virtually no one has recognized it except social crediters. Social Crediters should trumpet this in order to distinguish themselves from reformers who only talk about half of the needed policies. Even the smart economists like Steve Keen and Michael Hudson do not have the pinpoint insights of cost accounting that Douglas had and so they miss the significance, workability and beneficial effects of the discount. Hence their vision is not clear and complete. Iconoclasm (Keen) and railing against finance (Hudson) are all well and good, but “without (a complete, wise and fully workable) vision the people perish.”