Frances Hutchinson (1)

They called for a theoretical underpinning that will give a coherent value system to all of the various forms of currency.
-circular flow model
-see Frances Hutchinson 1997 The Political Economy of Social Credit and Guild Socialism
P. 10 -schumpeter neglects $ as friction
p. 11 $ considered nill effect on economy -see FT rebutall; mainstr: $==1. med. of exch 2. unit of acc 3. std of val 4. sed for deferred payment
p. 13 Autors assert $==social formp. 19 ? growth of smal ent. w/in cap. struct; LETS, micro-fin & Basic Income needs theoretical foundation to prevent cooption
p. 20 Chomsky (2002): State-Capitalism & Daly 1973 -Steady-state economy

p. 22 orth economics 'not alterable via pol or soc. 2. The economiy is self-sufficient & abstractly modelable
p. 23 us purge of non-neo economists in 90's==stalinizaion of economics; heterod; econ. science studying natural systm
p. 25 neurtral/ a-historical $ & cirular (econ) model -> Says Law (p. 26) tmp/vol. unempl w/equib.
p. 26 cite Hunt and Sherman 'All economi activities are voluntary' !!
p. 26 Pareto Optimality
p. 27 Joseph HaLevi Post-Autistic economics newsletter issue 6,5June 2001
p. 29price as 'only necessary' comm. leaves out Fair Trade, etc, org, values...
p. 30 ignores distr of wealth/ownership
****P. 32 [add to ch. 1 on $ neutrality w/FT article]
1. barter = 2 ppl, but $ exch. =3 ppl/parties
2. $ not neutral

p. 33 argue that $ as unit of mea. not suff. to expl. real world econ.; circl flow neglects time
p. 34 futures, hedge & spec. don't count
(iff $ avail p. 34 no capital -> no time in circ. flow model

p. 36 Keynes: if more money horded then invested -> disequlibrium; authors: inv. $ alloc ! =benign or pol. neutral

p. 39 but most ppls tastes ARE manipulated via ads! -orth econ sees only individual (even firms=ind) 2. decontextualizes...

p. 40/41 -cite Daly (2001) & New Internationalist issue 334: ecological collapse before mkt saturation

p. 42 Daly and Cobb, 1990: 'oikonomia' ==community economoics

p. 44 cite Ecole Normale Superieure student petition -LeMonde, 21 June 2000, L'Humanite
'economics leaves no room for reflection and debate' Les Echos 23 June 2000

P. 45 Post Autistic Economics newsletter 1 Sept. 2000
Susan Feiner: Economics==religion (10 Sept. 2000 Post-Autistic Econ. newsleter)

P. 47/48 only moder soc. needed $ to live; P. 49 Aristotle, Buchan right! $ still destroys art

p. 50 gold ruined Spain
p. 51 cites Lietar 2001 & Dorothy Rowe -trust
-----p. 53 Doro Rowe 1997:16 gold-> Ft. Knox, good food-> sea

p. 54 spec. banks=war; p. 58/9 Schumpeter mange $=manage economy;
Buchan $ !-> equality

P. 60 bankers/credit -> $ but who gets what and how?
p. 62 Schumpteter ->credit & veolicity viea notes but credit==$ creation

p. 70 Thomas Frank 2001: 'markts... for the little guy' vs. George Monbiot (200) capaute of state
land=property, Ellen Meiksins Wood: cap=compulsiojn

p. 71 enclosure: land=property
time=wage/hour
p. 72 dep. on mkts-> life gov. by mkts (ie. try making uspper w/no store bought ingr)
'cap. ...is based on inst. engaged in denial of access to the means of sustenance'
'cap. ==private ownership of the resources for sustanance'
econ. democ. == control over resrces for sustanance
*********************p. 77 nafta outlawed common land ownership

?! -> Zapatista rev.

p. 78 saps-> cash-croping and dep/risk

p. 82 marx 'outraged' at Say's Law, sees $ as focus of mkt econ. (Me: vs. barter econ -same point Keynes made!!)

P. 83 ** This is what Paula says: (cite her:) 'Marx did not forses the prominence that consumers lifestyles now have in capitalism, ut no doubt would have added to commodity fetishism a synical interpretation of consumerism as an attempt to reconstruct a meaningful life after the meaning of constructive work has been taken away.'

P. 83 marx ch. 1 capital -denial of means of subsistence=how capitalism works
(connection w/how councils prohb. living on smallholds?

p. 84 (rsee Walras): Money counts/matters; Freeman & Carahedi 1996:264-5
p. 85 barter vs. $ diff -Keynes not cited, why?
commodification
P. 88 circ arg.?? -val. of $
p. 90 Walras 'tatonnment'
p. 91/2 'dev. of usa, stad oil, Rockefeller
p. 92 cietes Rowbotham -comm. subsidies for TNCs, Hodgson '88, Epstien '69:27
p. 93 cap. based on many small firms; Sherman act 1890 used ag. Trade lbr unions
p. 94 WTO p. 95 2 farmer example: 'free mkt' vs. small producer from Farm Trader 6 Nov. 1997
p. 97 econ. democ=='control by human beings collectively of the conditions of existence' 2. provisioning

p. 98 prod. vs. prov. ; econ. demo. -==- control over access to provisioning
p. 100 veblen: industry vs. business
p. 101 wage labor within $ framework (diagram==box of $ around wg lbr)
p. 103 Guild Socialism 9soudns liek all small entr.)
p. 104 ?teleological??

p. 107Veblen -don't see Marx from positivist pov
p. 108 1. chronic dissatisfaction 2. patriotism military standards

p. 111 possesions -> priv. property -> status ->'chrematistics' -> conspic. consumption
p. 115 'class' diverts attention from cooperation
p. 120 *** free music as self-provisioning/subsistence?!!

P. 124 -equate commodification w/requirement to work for subsistence via wages
p. 126/7 -claim social credit
p. 128 authors assert need to take CH Douglas' ideas as a whole => viable alternative to capitalism (include in paper on history of CCs??...)

p. 129 how to implement Social credit (not nationalizing banks!) via Prod. credits and Consumer credits (A B theorem...)

just price...

p. 130/1 -Draft Mining Scheme
(a) credit vs. financial credit
P. 133 -(b) 'assert real credit rests on labor'
(c) producers bank issues financial credit for needs of consumers/public
p. 134 national clearing house to oversee prod. bank for social needs/purposes

P. 135 -claim Douglas agreed w/Keynes 'the Economic consequences of the peace' (1919)
Veblen -emulative consumerism ess. to cap. econ.; large scale arms prod.->waste
p. 137 -claim social credit will not work w/capitalism

P. 138 Schumpteter: entreprenuer brings prod. together for 'first time'; most 'captains of industry'= both entr. & capitalists
p. 139 douglas A B theorem: dir.rel. between cap. investm. & exchange prices ==> cap. mkt can never have equilibrium; A B describes rel. of production and income distr. over time
p. 140 A== wage/sal/dividends; B==costs; present incomes buy past prod, but only partly $'d by present sales, so ==>need credit
---most central role is finance capital (well duh! Austrian School ack. that!)

p. 141 -say schumpeter and Douglas rec. that comm. exist in 2 time periods: prod. and consum. hence equilib. not possible

ch. 7 p. 142 capitalism ===production for exchanged financed by credit
cite schumpeter 1934: access to means of prod.->new prod (entrep.): credit
P. 143 demand for free purchasing power w/bankers: int. rates determine aggr. demand, but not supply (???huh??)... [ok, demand less due to higher rates, but supply==loans via administrators...); if banks didn't create $, no new investment

P. 144 quote Schumpeter -finance/money markets ==headquarters of the capit. system [[--hence regulators fears of hedge funds while FT writers arg. re. neutrality of $...]]

p. 145 cite Veblen on bus. cycle w/exp. credit & rising prices/shrink cred/decr. prices; discount to banks -> inflation (continuus rise in cred and prices)

p. 147 replace nat. debt w/nat. credit office, pay basic income, match income flows w/'just price' price adjustments [[reminds me of price controls during war and Nixon era)

p. 148 techno. exits to provide easily for all; destruction of WWI =evidence; doc. dumping of food/cons. goods during Depression by social credit lit: see Hutchinson and Burkitt, 1997:151-5, Hargrave, 1945 for headlines "Herring glut threatens starvation & Hurricane helps sugar position, France welcomes mildew, International plan for destruction of cocoa" ---UNBELIEVABLE!!
cite Veblen: wealth is produced communally based on built up knowledge/materials/techno./labor

p. 150 work vs. labor and cite Morris, 1944 'death of civilization was at hand'
work, paid/unpaid =='meaningful transformative activity'; Habermas & Frankfurt School: can't see true interests under inequality
econ. democr==precondition for productive work


p. 152 wage-slavery lee 89; hodgson 88, schor '91

p. 155 common ownership=a human right

P. 157 Chapter 8 Green & Fem. econ.; Env,, Growing poverty, 1st world inequality; fred Soddy -fossil fuel problem
p. 158 soddy held science to be communal property; econ thinking env. problems ignored
'green consumerism' only possible w/ppl of suff. resources; poor ppl -less choice: (i.e. toxic dumps in Black area) Bullard, 1990
p. 159 Bush rejection of carbon quotas ; Limits to Growth study, Meadows et all, 1972
p. 160 cite Herman Daly & othr; circl flow model based on closed sys. & neglects entropy; use thermodynamics->growth ==perpetual motion, hence iimpossible
p. 161 Daly founded Ecological Economics journal
p. 162 green econ. still leaaves market supreme; eco-taxes v. regressive: james Robertson, 2001
p. 163 'the invisible elbow' -Michael Jacobs, 1991
p. 164 Jacobs arg: need dist. betw. financ. grth and real econ. grwth; need common mea. of $ val. for future rsrc loss; Booth may arg. that money payment may moralize env. destruction
p. 165 Teresa Brennan: mkt never sustainable::
$circ. always faster than natural reprodu. (1997:177); similar view to Marx w/env. surplus value exploitation; How to price lack of drinking water...
--Funtowicz & Ravetz (1994): ecology==complex emergent sys. [[simillar to Ros??!!]]; Adams -greens chal. fundamentals of dev.
P. 166 Monbiot 2000: gov cna't chal. corps; All documented wrld problems ignored by capitalism-as-we-know-it
P. 167 Harriet Friedmann 2000: commercial agr. not sustainable but not accountable via economic sys; Hutchinson 1998 -systematic silencing of advntgs of home prod.
P. 168 Friedmann -English High Farming: 4 crop rotation w/sheep folds moved nightly for fallow-field manure benefits; N. Ameri. plantations for profit->1930's DustBowl
p. 169 prarie farming depleting water; Hilkka Pietila -personal comm -warns glbl food undermines self-suff. in harsher climes & decline of species/varieties able to survive cold lands; knowl. of lcl seasonal prep/pres. dying, if glbl food sys. goes we're screwed...
agribus. subsidies hides real costs of 'food' and packaging, chemicals, etc. (hidden costs of glblstn of food...)

P. 170 -insert on (Garden Economics -F. Hutchinson) why lcl food is more expensive...

p. 171 after real transpo/exploited wroker/chem. costs included, lcl food is cheaper/better/tastier, & keeps money more local. Jules Pretty Resurgence magazine, 2001: we pay 3x's the cost of our food: otc, tax subsidies, clean up the mess; Groh & McFadden, 1990: CSA via 'community supproted farms and farm supported communites'
p. 172 suggest connecting CSA w/lcl banks on Douglas model... [[nteresting...] Soil Assoc., Farmers markets, Int'l Soc. for Ecology & Culture www.isec.org.uk -ill. town in VT w/resturant veg-waste to eggs project: Norberg-Hodge et all, 2000.
Soc. responsible banking: cite Douthwaite rep. of Danish comm. bank closed by gov. for refusal to charge int. on loans; Triodos; The Ecology Building Society, EIRIS --all show demand in society for ethical investment
P. 173 women are screwed w/neo-lib econ, & neolib-fem. econ. is compatible w/capitalism, like much Green econ.
p. 174 femenist critical economists must compromise to get jobs; malestream economics pushes out & dominates women, earth, etc,; ecofemenist pol. economy (mellor) say can't just include women & env. in models designed to exploit via money as the boundary/fence (p. 175) -> valuing things men like by the money creators; ignoring physical bodies and the env. ignores basis of wealth & inequality
P. 176 nurturing/caring work==women's work; economics marginalizes/externalizes non-mkt work as not 'rational'; 3rd wrld shows v. well exploitation of women and env. where glbalization had only neg. effects.
p. 177 sustainable livelihoods research & 5 'capitals' is more holistic, but neglects intra-household conflict/div. of wealth/pwr
p. 178 fin. cap and soc. cap same if yardstick is money -> conflicts of interest; "capital" ->all=money; Maureen Macintosh, 2000, can't 'import northern concepts of household' as individual econ. actor !exist... Econ./indiv. reward not compatible w/human caring & welfare
P. 179 capitlist bus. would cease w/out unpaid work, not vice versa;
p. 180 great diagram of fml econ. embedded w/in social econ embedded in natural resrcs econ.
P. 181 fetishes: prices, wage lbr, interst rates;
P. 182 neo-lib =positivists, frag. soc. sciences -> suppres debate; fems, greens, social-relations theorists see work as paid & unpaid
P. 183 ---Dios Mio! 'UK parents are advised never to allow a child to eat an apple' unpeeled due to 'toxicity'!!! ??!!
P. 184 Chapter 9 New Ways of thinking aobut Money & Income -LETS & basic/citizen's income & micro-finance, etc.
P. 185 Worgl and Mutual Credit System=WIR -Worgle in detail citing Douthwaite and Wagman; Gesell & great velocity
P. 186 cite D. & Wagman on Harvard Prof. Russell Sprague -US $ 'democratized out of it's hands' (1999:100); cites Lietaer, 2001 on Ithaca Hours; Edgar Cahn's Time Dollars
***IRS let TimeDollars go, like UK Time Banks;
Curitiba, Brazil used CC's for 25 years, & voted 'most ecological city in the world' by UN, 1992

P. 187 Raddon, 2001: CC's (esp. Paul Glover's ithaca Hours) like/based on Robert Owen's Labour Exchange 'Hour' notes; Complain that all CC's are a reform of the capitalist econ., do not address resource control & access issues; NEF=committed, but no real threat
P. 188 need wider theoretical context; details on Gesell-based MCS WIR; 1998 EC sponsored 4 WIR-based Barataria (D. & Wagman 1999) initiatives
P. 189 explanation of LETS, UK gov Social Exclusion Unit 'keen' ...???
P. 190 problems w/LETS: trading balances, skill mismatches, gendered: (Raddon, 2001:190) -need widespread collective activity, not individial as w/LETS...; ack. social vs. economic tendency of LETS members to become friends and stop 'accounting'
P. 191 more on local economies: Barbara Brandt (1995) and Susan Meeker-Lowry (1995); alt econ. must provision, else=leisure; cite Argentine crisis: money==faith; but capitalised money -> capitalism; but need money for complex society
P. 192 Basic / Citizen's income: EU Greens & UK Citizens Income Research Group (CIRG) (frmrly Basic Income Research Group): rad. arg. for fund. right to prov. and potential development ind. of waged work, ending poverty trap (dole-wrk, less $ cite Parker 1989)
P. 193 Citizen's Income Study Centre -benefits savings almost pays for BI; other studies claim too high taxes for BI; cheap lbr; wages for housework -> keeping women home; subsidizing capitalist employers (like the rates/Speenhamland -cite Polanyi!!!)
-*****-- NO Mention of Inflation via BI/Cit. Income...

P. 194 arg. for BI in context of Douglas based National Dividend enc. lcl prod. for lcl needs; money-as-of-right; decentralized producers' banks; Guild Soc. & prod. co-ops model;
P. 195 Nobel Prize winner James Meade, economist: Hutchinson & Burkitt '97:83-93; UK=home of consumer co-ops, France/Italy home of prod. co-op mvment; threats to coops -Matthews, 1999; small=vuln; big=commercial-like;
P. 196 Mondragon initially financed by Working People's Bank, fnded on principles id to Draft Mining Scheme (Douglas, 1920) but w/nat'l/intl finance involved; claim =example of operation similar to theo. soc. credit prod. coop
P. 197 arg roots in Distributism (Matthews, 1999); pot. for non-hierarch. mngmt struct. understated in lit.; need soc. credit analy. of Mondragon/Lankide aurrezkia (wrking ppl's bnk) hist. rel. w/Spanish int'l finance...
New Road Map Foundation; Juliet Schor "The overworked american: the unexpected decline of leisure" - all vol. netwrk to impact percept/earning/spending of money
P. 198 limits -grwth; (Fin. Indep.)==FI->real choice; workers asked 3 ?'s re. control over lives/wrk; Dominguez & Robin, 1992 suggest 8 steps to reduce, save & investing in nat. gov. bonds (secure)-> FI; arg bonds=back door to BI/nat. dividend
P. 200 gov. bonds resold->gov gets principle & int->resellers & holder; D. and Robin arg buying bond not endorsement of gov policies (!); also agr. bond payouts spt/encrg simple living under their control; Great if ur rich! The Simple Living Network has low-inc. plans; better=pol. commit. to spread of income avail. ( still part of capitalism...)

P. 201 Jubilee 2000 and Jubilee Coalition ; USA =most heavily indebted nation; cuba best off via no int'l dev.;
micrso-fin. also just a band-aid
P. 203 Sri Lanka 2001 IMF sap recomended priv. of banks
p. 204 micro-fin. keeps stereotypes about women
p. 205 communitarianism via group empowerment vs. ind. -fem. debate; can priv. property ever solve poverty? wage lbr still needed
p. 206 donor nation agendas dominate; ownership discourse infection...monetary innovation commandeer labor->capitalism; BI/mon. reform etc. non starters in current pol. env. -got that right!
P. 207 micro-cred, lets, fi, coops all dep. on having $; What mental/pol. systems are needed to transition to post-cap w/BI & soc. accntble institutions?

Chapter 10 P. 208 Towards Sust. and Econ. Democr. cite Hines 2000 -nations must take control of econ.; (There Is No Alternative) TINA econ needs 'joined up thinking' to change; Major diffs earlier money and contemp. money:
p. 209 1. 97% of money issued as debt (other 3%=notes & coins still via banks) 2. ppl lack ind. src of prov.; sustbl==sufficiency econ.
P. 210 this critique==Gramsci 'war of position'; Foucalt consist. w/'think glbl, act local'
P. 211 $==soc. trust-based, ppl forced to use it by need
P. 212 cite Zelizer on soci. nature of $ and value; cite Dodd: $-> freedom & inequality; Simmel 'abstract value of wealth' & desire=price
P. 213 $=power=politicalP. 214 Mon. Reform calls fr. NEF, Rowbo.Douthwaite, Lietaer, James Robertson: debt->over-prd./consm.
basis of Douglas' A B theorem: debt-based $ -> expansion; mrtgages & debt
p. 215 jefferson qote, from Rowbotham (incl. possible forged part )
P. 216 Seigniorage; Creating New Money -James Huber & James Robertson 2000 fr. artcl 16 of European System of Central Banks & ECB entitled "Banknotes" -make sight deposits legal tender
P. 218 for and by whom money reform; Robertson, Douth. Leitaer arg. to continue 'capitalized market sys.'
P. 219 agree w/ Ben Fine 1999 that using wrd 'capital' vs. social re./processes, etc gives ground to neo-libs; need sufficiency based view w/lnks to oppose wage labour
P. 220 cite Kovel 2000 -wage
labr ==undemocr.; Labor Party & LSE moved away from Soc. Cred. & guild Socialism
P. 221 Douglas -needs of comm. should drive investment
p. 222 simplistic neg. 'blame.'… (más)

They called for a theoretical underpinning that will give a coherent value system to all of the various forms of currency.
-circular flow model
-see Frances Hutchinson 1997 The Political Economy of Social Credit and Guild Socialism
P. 10 -schumpeter neglects $ as friction
p. 11 $ considered nill effect on economy -see FT rebutall; mainstr: $==1. med. of exch 2. unit of acc 3. std of val 4. sed for deferred payment
p. 13 Autors assert $==social formp. 19 ? growth of smal ent. w/in cap. struct; LETS, micro-fin & Basic Income needs theoretical foundation to prevent cooption
p. 20 Chomsky (2002): State-Capitalism & Daly 1973 -Steady-state economy

p. 22 orth economics 'not alterable via pol or soc. 2. The economiy is self-sufficient & abstractly modelable
p. 23 us purge of non-neo economists in 90's==stalinizaion of economics; heterod; econ. science studying natural systm
p. 25 neurtral/ a-historical $ & cirular (econ) model -> Says Law (p. 26) tmp/vol. unempl w/equib.
p. 26 cite Hunt and Sherman 'All economi activities are voluntary' !!
p. 26 Pareto Optimality
p. 27 Joseph HaLevi Post-Autistic economics newsletter issue 6,5June 2001
p. 29price as 'only necessary' comm. leaves out Fair Trade, etc, org, values...
p. 30 ignores distr of wealth/ownership
****P. 32 [add to ch. 1 on $ neutrality w/FT article]
1. barter = 2 ppl, but $ exch. =3 ppl/parties
2. $ not neutral

p. 33 argue that $ as unit of mea. not suff. to expl. real world econ.; circl flow neglects time
p. 34 futures, hedge & spec. don't count
(iff $ avail p. 34 no capital -> no time in circ. flow model

p. 36 Keynes: if more money horded then invested -> disequlibrium; authors: inv. $ alloc ! =benign or pol. neutral

p. 39 but most ppls tastes ARE manipulated via ads! -orth econ sees only individual (even firms=ind) 2. decontextualizes...

p. 40/41 -cite Daly (2001) & New Internationalist issue 334: ecological collapse before mkt saturation

p. 42 Daly and Cobb, 1990: 'oikonomia' ==community economoics

p. 44 cite Ecole Normale Superieure student petition -LeMonde, 21 June 2000, L'Humanite
'economics leaves no room for reflection and debate' Les Echos 23 June 2000

P. 45 Post Autistic Economics newsletter 1 Sept. 2000
Susan Feiner: Economics==religion (10 Sept. 2000 Post-Autistic Econ. newsleter)

P. 47/48 only moder soc. needed $ to live; P. 49 Aristotle, Buchan right! $ still destroys art

p. 50 gold ruined Spain
p. 51 cites Lietar 2001 & Dorothy Rowe -trust
-----p. 53 Doro Rowe 1997:16 gold-> Ft. Knox, good food-> sea

p. 54 spec. banks=war; p. 58/9 Schumpeter mange $=manage economy;
Buchan $ !-> equality

P. 60 bankers/credit -> $ but who gets what and how?
p. 62 Schumpteter ->credit & veolicity viea notes but credit==$ creation

p. 70 Thomas Frank 2001: 'markts... for the little guy' vs. George Monbiot (200) capaute of state
land=property, Ellen Meiksins Wood: cap=compulsiojn

p. 71 enclosure: land=property
time=wage/hour
p. 72 dep. on mkts-> life gov. by mkts (ie. try making uspper w/no store bought ingr)
'cap. ...is based on inst. engaged in denial of access to the means of sustenance'
'cap. ==private ownership of the resources for sustanance'
econ. democ. == control over resrces for sustanance
*********************p. 77 nafta outlawed common land ownership

?! -> Zapatista rev.

p. 78 saps-> cash-croping and dep/risk

p. 82 marx 'outraged' at Say's Law, sees $ as focus of mkt econ. (Me: vs. barter econ -same point Keynes made!!)

P. 83 ** This is what Paula says: (cite her:) 'Marx did not forses the prominence that consumers lifestyles now have in capitalism, ut no doubt would have added to commodity fetishism a synical interpretation of consumerism as an attempt to reconstruct a meaningful life after the meaning of constructive work has been taken away.'

P. 83 marx ch. 1 capital -denial of means of subsistence=how capitalism works
(connection w/how councils prohb. living on smallholds?

p. 84 (rsee Walras): Money counts/matters; Freeman & Carahedi 1996:264-5
p. 85 barter vs. $ diff -Keynes not cited, why?
commodification
P. 88 circ arg.?? -val. of $
p. 90 Walras 'tatonnment'
p. 91/2 'dev. of usa, stad oil, Rockefeller
p. 92 cietes Rowbotham -comm. subsidies for TNCs, Hodgson '88, Epstien '69:27
p. 93 cap. based on many small firms; Sherman act 1890 used ag. Trade lbr unions
p. 94 WTO p. 95 2 farmer example: 'free mkt' vs. small producer from Farm Trader 6 Nov. 1997
p. 97 econ. democ=='control by human beings collectively of the conditions of existence' 2. provisioning

p. 98 prod. vs. prov. ; econ. demo. -==- control over access to provisioning
p. 100 veblen: industry vs. business
p. 101 wage labor within $ framework (diagram==box of $ around wg lbr)
p. 103 Guild Socialism 9soudns liek all small entr.)
p. 104 ?teleological??

p. 107Veblen -don't see Marx from positivist pov
p. 108 1. chronic dissatisfaction 2. patriotism military standards

p. 111 possesions -> priv. property -> status ->'chrematistics' -> conspic. consumption
p. 115 'class' diverts attention from cooperation
p. 120 *** free music as self-provisioning/subsistence?!!

P. 124 -equate commodification w/requirement to work for subsistence via wages
p. 126/7 -claim social credit
p. 128 authors assert need to take CH Douglas' ideas as a whole => viable alternative to capitalism (include in paper on history of CCs??...)

p. 129 how to implement Social credit (not nationalizing banks!) via Prod. credits and Consumer credits (A B theorem...)

just price...

p. 130/1 -Draft Mining Scheme
(a) credit vs. financial credit
P. 133 -(b) 'assert real credit rests on labor'
(c) producers bank issues financial credit for needs of consumers/public
p. 134 national clearing house to oversee prod. bank for social needs/purposes

P. 135 -claim Douglas agreed w/Keynes 'the Economic consequences of the peace' (1919)
Veblen -emulative consumerism ess. to cap. econ.; large scale arms prod.->waste
p. 137 -claim social credit will not work w/capitalism

P. 138 Schumpteter: entreprenuer brings prod. together for 'first time'; most 'captains of industry'= both entr. & capitalists
p. 139 douglas A B theorem: dir.rel. between cap. investm. & exchange prices ==> cap. mkt can never have equilibrium; A B describes rel. of production and income distr. over time
p. 140 A== wage/sal/dividends; B==costs; present incomes buy past prod, but only partly $'d by present sales, so ==>need credit
---most central role is finance capital (well duh! Austrian School ack. that!)

p. 141 -say schumpeter and Douglas rec. that comm. exist in 2 time periods: prod. and consum. hence equilib. not possible

ch. 7 p. 142 capitalism ===production for exchanged financed by credit
cite schumpeter 1934: access to means of prod.->new prod (entrep.): credit
P. 143 demand for free purchasing power w/bankers: int. rates determine aggr. demand, but not supply (???huh??)... [ok, demand less due to higher rates, but supply==loans via administrators...); if banks didn't create $, no new investment

P. 144 quote Schumpeter -finance/money markets ==headquarters of the capit. system [[--hence regulators fears of hedge funds while FT writers arg. re. neutrality of $...]]

p. 145 cite Veblen on bus. cycle w/exp. credit & rising prices/shrink cred/decr. prices; discount to banks -> inflation (continuus rise in cred and prices)

p. 147 replace nat. debt w/nat. credit office, pay basic income, match income flows w/'just price' price adjustments [[reminds me of price controls during war and Nixon era)

p. 148 techno. exits to provide easily for all; destruction of WWI =evidence; doc. dumping of food/cons. goods during Depression by social credit lit: see Hutchinson and Burkitt, 1997:151-5, Hargrave, 1945 for headlines "Herring glut threatens starvation & Hurricane helps sugar position, France welcomes mildew, International plan for destruction of cocoa" ---UNBELIEVABLE!!
cite Veblen: wealth is produced communally based on built up knowledge/materials/techno./labor

p. 150 work vs. labor and cite Morris, 1944 'death of civilization was at hand'
work, paid/unpaid =='meaningful transformative activity'; Habermas & Frankfurt School: can't see true interests under inequality
econ. democr==precondition for productive work


p. 152 wage-slavery lee 89; hodgson 88, schor '91

p. 155 common ownership=a human right

P. 157 Chapter 8 Green & Fem. econ.; Env,, Growing poverty, 1st world inequality; fred Soddy -fossil fuel problem
p. 158 soddy held science to be communal property; econ thinking env. problems ignored
'green consumerism' only possible w/ppl of suff. resources; poor ppl -less choice: (i.e. toxic dumps in Black area) Bullard, 1990
p. 159 Bush rejection of carbon quotas ; Limits to Growth study, Meadows et all, 1972
p. 160 cite Herman Daly & othr; circl flow model based on closed sys. & neglects entropy; use thermodynamics->growth ==perpetual motion, hence iimpossible
p. 161 Daly founded Ecological Economics journal
p. 162 green econ. still leaaves market supreme; eco-taxes v. regressive: james Robertson, 2001
p. 163 'the invisible elbow' -Michael Jacobs, 1991
p. 164 Jacobs arg: need dist. betw. financ. grth and real econ. grwth; need common mea. of $ val. for future rsrc loss; Booth may arg. that money payment may moralize env. destruction
p. 165 Teresa Brennan: mkt never sustainable::
$circ. always faster than natural reprodu. (1997:177); similar view to Marx w/env. surplus value exploitation; How to price lack of drinking water...
--Funtowicz & Ravetz (1994): ecology==complex emergent sys. [[simillar to Ros??!!]]; Adams -greens chal. fundamentals of dev.
P. 166 Monbiot 2000: gov cna't chal. corps; All documented wrld problems ignored by capitalism-as-we-know-it
P. 167 Harriet Friedmann 2000: commercial agr. not sustainable but not accountable via economic sys; Hutchinson 1998 -systematic silencing of advntgs of home prod.
P. 168 Friedmann -English High Farming: 4 crop rotation w/sheep folds moved nightly for fallow-field manure benefits; N. Ameri. plantations for profit->1930's DustBowl
p. 169 prarie farming depleting water; Hilkka Pietila -personal comm -warns glbl food undermines self-suff. in harsher climes & decline of species/varieties able to survive cold lands; knowl. of lcl seasonal prep/pres. dying, if glbl food sys. goes we're screwed...
agribus. subsidies hides real costs of 'food' and packaging, chemicals, etc. (hidden costs of glblstn of food...)

P. 170 -insert on (Garden Economics -F. Hutchinson) why lcl food is more expensive...

p. 171 after real transpo/exploited wroker/chem. costs included, lcl food is cheaper/better/tastier, & keeps money more local. Jules Pretty Resurgence magazine, 2001: we pay 3x's the cost of our food: otc, tax subsidies, clean up the mess; Groh & McFadden, 1990: CSA via 'community supproted farms and farm supported communites'
p. 172 suggest connecting CSA w/lcl banks on Douglas model... [[nteresting...] Soil Assoc., Farmers markets, Int'l Soc. for Ecology & Culture www.isec.org.uk -ill. town in VT w/resturant veg-waste to eggs project: Norberg-Hodge et all, 2000.
Soc. responsible banking: cite Douthwaite rep. of Danish comm. bank closed by gov. for refusal to charge int. on loans; Triodos; The Ecology Building Society, EIRIS --all show demand in society for ethical investment
P. 173 women are screwed w/neo-lib econ, & neolib-fem. econ. is compatible w/capitalism, like much Green econ.
p. 174 femenist critical economists must compromise to get jobs; malestream economics pushes out & dominates women, earth, etc,; ecofemenist pol. economy (mellor) say can't just include women & env. in models designed to exploit via money as the boundary/fence (p. 175) -> valuing things men like by the money creators; ignoring physical bodies and the env. ignores basis of wealth & inequality
P. 176 nurturing/caring work==women's work; economics marginalizes/externalizes non-mkt work as not 'rational'; 3rd wrld shows v. well exploitation of women and env. where glbalization had only neg. effects.
p. 177 sustainable livelihoods research & 5 'capitals' is more holistic, but neglects intra-household conflict/div. of wealth/pwr
p. 178 fin. cap and soc. cap same if yardstick is money -> conflicts of interest; "capital" ->all=money; Maureen Macintosh, 2000, can't 'import northern concepts of household' as individual econ. actor !exist... Econ./indiv. reward not compatible w/human caring & welfare
P. 179 capitlist bus. would cease w/out unpaid work, not vice versa;
p. 180 great diagram of fml econ. embedded w/in social econ embedded in natural resrcs econ.
P. 181 fetishes: prices, wage lbr, interst rates;
P. 182 neo-lib =positivists, frag. soc. sciences -> suppres debate; fems, greens, social-relations theorists see work as paid & unpaid
P. 183 ---Dios Mio! 'UK parents are advised never to allow a child to eat an apple' unpeeled due to 'toxicity'!!! ??!!
P. 184 Chapter 9 New Ways of thinking aobut Money & Income -LETS & basic/citizen's income & micro-finance, etc.
P. 185 Worgl and Mutual Credit System=WIR -Worgle in detail citing Douthwaite and Wagman; Gesell & great velocity
P. 186 cite D. & Wagman on Harvard Prof. Russell Sprague -US $ 'democratized out of it's hands' (1999:100); cites Lietaer, 2001 on Ithaca Hours; Edgar Cahn's Time Dollars
***IRS let TimeDollars go, like UK Time Banks;
Curitiba, Brazil used CC's for 25 years, & voted 'most ecological city in the world' by UN, 1992

P. 187 Raddon, 2001: CC's (esp. Paul Glover's ithaca Hours) like/based on Robert Owen's Labour Exchange 'Hour' notes; Complain that all CC's are a reform of the capitalist econ., do not address resource control & access issues; NEF=committed, but no real threat
P. 188 need wider theoretical context; details on Gesell-based MCS WIR; 1998 EC sponsored 4 WIR-based Barataria (D. & Wagman 1999) initiatives
P. 189 explanation of LETS, UK gov Social Exclusion Unit 'keen' ...???
P. 190 problems w/LETS: trading balances, skill mismatches, gendered: (Raddon, 2001:190) -need widespread collective activity, not individial as w/LETS...; ack. social vs. economic tendency of LETS members to become friends and stop 'accounting'
P. 191 more on local economies: Barbara Brandt (1995) and Susan Meeker-Lowry (1995); alt econ. must provision, else=leisure; cite Argentine crisis: money==faith; but capitalised money -> capitalism; but need money for complex society
P. 192 Basic / Citizen's income: EU Greens & UK Citizens Income Research Group (CIRG) (frmrly Basic Income Research Group): rad. arg. for fund. right to prov. and potential development ind. of waged work, ending poverty trap (dole-wrk, less $ cite Parker 1989)
P. 193 Citizen's Income Study Centre -benefits savings almost pays for BI; other studies claim too high taxes for BI; cheap lbr; wages for housework -> keeping women home; subsidizing capitalist employers (like the rates/Speenhamland -cite Polanyi!!!)
-*****-- NO Mention of Inflation via BI/Cit. Income...

P. 194 arg. for BI in context of Douglas based National Dividend enc. lcl prod. for lcl needs; money-as-of-right; decentralized producers' banks; Guild Soc. & prod. co-ops model;
P. 195 Nobel Prize winner James Meade, economist: Hutchinson & Burkitt '97:83-93; UK=home of consumer co-ops, France/Italy home of prod. co-op mvment; threats to coops -Matthews, 1999; small=vuln; big=commercial-like;
P. 196 Mondragon initially financed by Working People's Bank, fnded on principles id to Draft Mining Scheme (Douglas, 1920) but w/nat'l/intl finance involved; claim =example of operation similar to theo. soc. credit prod. coop
P. 197 arg roots in Distributism (Matthews, 1999); pot. for non-hierarch. mngmt struct. understated in lit.; need soc. credit analy. of Mondragon/Lankide aurrezkia (wrking ppl's bnk) hist. rel. w/Spanish int'l finance...
New Road Map Foundation; Juliet Schor "The overworked american: the unexpected decline of leisure" - all vol. netwrk to impact percept/earning/spending of money
P. 198 limits -grwth; (Fin. Indep.)==FI->real choice; workers asked 3 ?'s re. control over lives/wrk; Dominguez & Robin, 1992 suggest 8 steps to reduce, save & investing in nat. gov. bonds (secure)-> FI; arg bonds=back door to BI/nat. dividend
P. 200 gov. bonds resold->gov gets principle & int->resellers & holder; D. and Robin arg buying bond not endorsement of gov policies (!); also agr. bond payouts spt/encrg simple living under their control; Great if ur rich! The Simple Living Network has low-inc. plans; better=pol. commit. to spread of income avail. ( still part of capitalism...)

P. 201 Jubilee 2000 and Jubilee Coalition ; USA =most heavily indebted nation; cuba best off via no int'l dev.;
micrso-fin. also just a band-aid
P. 203 Sri Lanka 2001 IMF sap recomended priv. of banks
p. 204 micro-fin. keeps stereotypes about women
p. 205 communitarianism via group empowerment vs. ind. -fem. debate; can priv. property ever solve poverty? wage lbr still needed
p. 206 donor nation agendas dominate; ownership discourse infection...monetary innovation commandeer labor->capitalism; BI/mon. reform etc. non starters in current pol. env. -got that right!
P. 207 micro-cred, lets, fi, coops all dep. on having $; What mental/pol. systems are needed to transition to post-cap w/BI & soc. accntble institutions?

Chapter 10 P. 208 Towards Sust. and Econ. Democr. cite Hines 2000 -nations must take control of econ.; (There Is No Alternative) TINA econ needs 'joined up thinking' to change; Major diffs earlier money and contemp. money:
p. 209 1. 97% of money issued as debt (other 3%=notes & coins still via banks) 2. ppl lack ind. src of prov.; sustbl==sufficiency econ.
P. 210 this critique==Gramsci 'war of position'; Foucalt consist. w/'think glbl, act local'
P. 211 $==soc. trust-based, ppl forced to use it by need
P. 212 cite Zelizer on soci. nature of $ and value; cite Dodd: $-> freedom & inequality; Simmel 'abstract value of wealth' & desire=price
P. 213 $=power=politicalP. 214 Mon. Reform calls fr. NEF, Rowbo.Douthwaite, Lietaer, James Robertson: debt->over-prd./consm.
basis of Douglas' A B theorem: debt-based $ -> expansion; mrtgages & debt
p. 215 jefferson qote, from Rowbotham (incl. possible forged part )
P. 216 Seigniorage; Creating New Money -James Huber & James Robertson 2000 fr. artcl 16 of European System of Central Banks & ECB entitled "Banknotes" -make sight deposits legal tender
P. 218 for and by whom money reform; Robertson, Douth. Leitaer arg. to continue 'capitalized market sys.'
P. 219 agree w/ Ben Fine 1999 that using wrd 'capital' vs. social re./processes, etc gives ground to neo-libs; need sufficiency based view w/lnks to oppose wage labour
P. 220 cite Kovel 2000 -wage
labr ==undemocr.; Labor Party & LSE moved away from Soc. Cred. & guild Socialism
P. 221 Douglas -needs of comm. should drive investment
p. 222 simplistic neg. 'blame.'… (más)