How Robots Will Steal Your Job

["William B. Ryan" <w_b_ryan@xxxxxxxxx>]

Replies are inserted [reply] below:
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From: royls@xxxxxxxxx (royls@xxxxxxxxx)
Subject: Re: How Robots Will Steal Your Job

On 18 Aug 2003 07:36:33 -0700,
william_b_ryan@xxxxxxxxxxx (Bill Ryan)
wrote:

>The solution is
>to supplement earned incomes with unearned dividends
>paid from the increasing national credit.

"National credit"?  Credit has to be paid back.

---------------------------------
[reply]  Credit in the form of credit to your account
that you might draw down does not necessitate
repayment.  The phone company credits your bill after
you complain about something.  Nothing has to be
repaid.  It is an expense charged to good will that
takes nothing away from anybody.
--

The solution is to first understand that "unearned"
income is in fact earned -- just by people other than
the recipient.

 Roy L

---------------------------------
[reply]  What we have inherited from our ancestors
may or may not have been "earned" by our ancestors.
It was certainly not "earned" by those now living.
What is gained through the increment of association
between those now living is not "earned" by any one
of us individually. [see note below]

Production includes the production of a great deal
more than the physical capital we see and the goods
we consume: It includes what we don't see--unrealized
productive capacity from discovery, invention and
technology--that accrues to the national credit
account, from which dividends might be paid that
would draw on that capacity.

Excerpting from *Credit-Power and Democracy*
published eighty-three years ago:

"...We have already seen that the only possible basis
of *real* credit is a belief, amounting to knowledge,
in the correctness of the credit-estimate of a
society, with all its resources, to deliver goods and
services at a certain rate.  If we made this basis
our *financial* basis, then the credit-structure
erected on it can only be destroyed by social
suicide--by the refusal of the community to function.
Now, one of the components of the capacity of a
society to *deliver* goods and services *is the
existence of an effective demand* for those goods and
services.  It is not the very slightest use, under
existing conditions, that there are thousands of most
excellent houses vacant in this country, when the
cost of living in them totally exceeds the effective
financial demand of the individuals who would like to
live in them.  The houses are there, and the people
are there, but the delivery does not take place.
*The business of a modern and effective financial
system is to issue credit to the consumer, up to the
limit of the productive capacity of the producer, so
that either the consumers' real demand is satiated,
or the producers' capacity is exhausted, whichever
happens first.*

"This can obviously be done by making issues of
purchasing-power to cover the whole estimated
productive capacity, and taking it back to the extent
that this capacity is diminished from any cause
whatever, a state of affairs which rapidly results in
making everyone 'rich' in the current sense of the
term; which, it should be clearly borne in mind, does
not at all mean that an individual's real consumption
is large--very often quite the contrary--but that the
individual in question has the mechanism at hand by
which to obtain what he does want..."
--

[Note]  We indeed earn what we individually
contribute to the productive process.  The A + B
theorem is that we are paid (wages, salaries and
corporate dividends) increasingly *less* than the
costs of production of that which is produced for
sale (which is less than what could be produced and
sold if we were fully paid) with continuing labor
displacement.  That is to say, we collectively are
paid *less* than what we are in fact earning,
thereby immobilizing an increasing percentage of
capacity that is increasing.  The problem goes far
beyond mere equitable distribution--which keeps the
economy in the permanent state of under capacity.
The utilization of productive capacity is a function
of real demand made effective through the national
dividend drawn on the national credit account.  The
dividend is "unearned" in the sense it is not tied to
formal "employment."


royls@xxxxxxxxx wrote in
> On 18 Aug 2003 07:36:33 -0700, william_b_ryan@xxxxxxxxxxx (Bill Ryan)
> wrote:
[snipped]



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