Re: S=I, an old debate.

["Bruce R. McFarling" <ecbm@xxxxxxxxxxxxxxxxxxx>]

At 11:53 16/08/98 -0700, William B. Ryan <william_b_ryan@xxxxxxxxxxx>
quoted Victor Bridger <socred@xxxxxxxxxx> writing:

>Money is introduced both to finance investment and consumption as per
>the increase in Bank Card "Credit". All money introduced in this way is
>debt and bears an interest charge. The theory of Savings and Investment
>was wrong when Keynes first introduced it and it still wrong and
>therefore not worthy of discussion. The chicken and egg argument is just
>as fallacious as has been pointed out the flow of money in and out of
>the system is not static but is a continuous flow. In this sense money
>is a "rate" and this is a concept that has eluded economists for
>decades.

	Any stock that is not fixed at a single level has an
associated flow.  So pointing out that there is a flow of
something does not prove by itself that there is no stock
of that thing.
	Sorry if I haven't read any farther, but I have impatience
with the notion that repetition of old misconceptions is an
effective approach to furthering the work of Keynes, Kalecki,
Robinson, et. al.


Virtually,

Bruce McFarling, Newcastle, NSW
ecbm@xxxxxxxxxxxxxxxxxxx