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There Exists an Abundance By Wallace Klinck
Our economy is static rather than dynamic in the sense that as a society we cannot access what we have already produced until we produce even more—not to purchase what we are producing but to buy goods produced in the previous costing cycle.
In order to purchase the goods upon which we are currently working when they are completed we must first engage in a whole new and additional round of production. This is consequent to a price-system that pre-maturely cancels purchasing-power and leaves a deficiency when the final goods come off the production line.
This is not challenged because of a general and increasingly false notion that production is due only to human effort—false because labour is rapidly being displaced or replaced by other factors of production.
This erroneous assumption that because those who do not work are not personally contributing to the general wealth, leads to an erroneous judgemental edict that they “shall not eat.” This is a false “moral imperative” because it misperceives the nature of objective reality.
People believe that such people can only be fed by taxing those who possess wealth—i.e., by “stealing” the wealth of those who work. They do not realize that nature and the cumulative cultural heritage of mankind are far larger, and increasing, relative to labour as factors of production.
We should have an increasingly sharing society—but the sharing should not be accomplished either by taxation or by escalating and un-repayable debt. The vast sums of credit-money created by banks as loans for consumption should be replaced by debt-free money paid to consumers to increase their disposable income and to retailers so that they are enabled to charge falling prices.
There exists actually and potentially an abundance wherein there is more than plenty for “all of God’s children.”
We have been endowed with a unique intelligence—which allows us to devise means of increasing efficiency so as to make this abundance possible.