What should concern us is who stands in the way of solution, and why.
IS PROFIT DESTRUCTIVE TO INDUSTRIAL SUSTAINABILITY, AS IS INTEREST?
As the system crumbles under its inherent, irreversible multiplication of debt, more and more of us decry one irregularity or another as the cause of failure. We will never get beyond this if we don’t keep every irregularity in its rightful place. That means accountable development of assertions in all cases. This article responds to the recent assertion that profit in capitalism is as destructive as interest.
Industrial profit does not necessarily multiply itself indefinitely whether we have a want for the product or not; whereas a currency subject to interest obligates us perpetually to replenish a vital circulation of the costs of servicing debt which we pay out of the general circulation. Interest therefore perpetually multiplies the sum of debt in proportion to a vital circulation until we suffer a terminal sum of debt together with an inability to borrow further ??as remains necessary to maintain the vital circulation. All this of course is the nature of the present, so called “credit crisis.” But as you see then, it is certainly not industrial profit which can truly be accounted for inasmuch as being fatal to the system.
a)?Potentially legitimate “profit,” b)?illegitimate or unearned “profit” (which I assume you are referring to), and c)?inherent, irreversible multiplication of debt by interest, therefore are hugely disparate in both potential escalation and in related destructive consequence. Even if we depend on the product taking unearned profit, it has no irreversible and inherently self-escalating power to take from us, regardless even of what we can afford.
To be clear, “profit” can either be viewed as our wage for actual production; or, others view it as whatever can be taken, even above just wages. If you’re complaining about the latter, yes, this is destructive as well.
But the omnipotent destructive power is the nature of the currency, because it is to the mere publisher of the virtually costless currency in which our first and foremost obligation exists; because the process of multiplication of debt in proportion to the obligated circulation is irreversible so long as we maintain a vital circulation; and because the process therefore is inevitably terminal.
- Source of responded comment at OpEd News, Bad Bank, Bad News, by Andrew Hughs
- [?KEY?]??THE PROBLEM IS NOT DEBT!
- [?KEY?]??IF I WERE PRESIDENT ??HOW TO ARREST WORLD WIDE MONETARY COLLAPSE IN A DAY
- SYNOPSIS ??MATHEMATICALLY PERFECTED ECONOMY? REDUCED TO ITS BAREST THREAD
- PROBABILITY AND TIMELINE FOR WORLD-WIDE ECONOMIC COLLAPSE AS A CONSEQUENCE OF INTEREST
- EVALUATION OF JEFFERSON’S OPINION ON THE CONSTITUTIONALITY OF A NATIONAL BANK
- WHY DON’T THE DEMOCRATS REVERSE WILSON’S ERROR, AND REPEAL THE FEDERAL RESERVE ACT?
“To find the players in all the corruption of the world, ‘Follow the money.’ To find the captains of world corruption, follow the money all the way.”
mike montagne ??founder, PEOPLE For Mathematically Perfected Economy?, author/engineer of mathematically perfected economy? (1979)
? COPYRIGHT 2008, by mike montagne and PEOPLE For Mathematically Perfected Economy?.
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