3 ms·
Also see social credit theory for the idea that the value of goods produced by workers is always less than their wages: http://www.socred.org/ http://www.socre
by branchless 11y ago
Also see social credit theory for the idea that the value of goods produced by workers is always less than their wages:
http://www.socred.org/ http://www.socred.org/
Plus banks have a monopoly on money creation and can create it with zero cost, ramping up land prices and soaking up all productivity gains into land. All the rentier need do is kick back and wait for the state to add value so they can charge more rent. Henry George knew it but it seems today nobody has the faintest idea how money works:
http://www.henrygeorge.org/pcontents.htm http://www.henrygeorge.org/pcontents.htm
- laotzu 11y agoI am familiar with the credit-theory of money as opposed to the debt-theory which we currently use. David Graeber explains it in Debt: The First 5,000 Years[1], for anyone interested in further reading. [1] https://libcom.org/files/__Debt__The_First_5_000_Years.pdf https://libcom.org/files/__Debt__The_First_5_000_Years.pdf
- branchless 11y agoYeah I've not read that yet, learning french to pass an exam to get Quebec residency so I can escape the hellish UK rentier paradise. Once I've passed I'm hitting those economics books!
- deleted 11y ago[deleted]