| 
|
This piece is part of a larger section called 'Short takes'.
To see all of that section, click on these lines.
Kudos to Heydorn
In the Sept. issue of the Concourse Oliver Heydorn responded to some earlier articles of mine by introducing the subject of our financial system and suggesting C. H. Douglas's Social Credit as a remedy for its ills. As for his diagnosis of the problem, I entirely agree with him. In chapter three of my book, Foundations of a Catholic Political Order, I there point out the strange character of bank-created money and the injustice involved in having private banks make considerable profits from what is essentially a public function, and which they undertake with very little expense to themselves.
As to the remedy Mr. Heydorn suggests, Social Credit, I believe that we need further study, but I endorse fully his statement that we need to move toward 100% reserve banking. This idea, by the way, has been championed by a number of noted economists, including Rupert Ederer, Milton Friedman and Irving Fisher. I welcome Mr. Heydorn's contribution and the concern that he and I share toward achieving a just and humane economy.
Thomas Storck
Related Articles:
• What is distributism?, Thomas Storck (V,5)
• Towards a humane economy: a reply to Thomas Storck, Philip Harold (V,6)
• (re)Distributism (re)Considered, Joseph Zoric (V,6)
• Inner life of society determines value of economic systems, Daniel Ellis (V,7)
• The good of distributism: a reply to critics, Thomas Storck (V,7)
• Distributism or the Free Economy?, Kevin Schmiesing (V,8)
• A personalist point regarding economics, Philip Harold (V,8)
• The legitimacy of wealth, Genevieve Belland (VI,1)
• Distributism, state power and papal teachings, Thomas Storck (VI,1)
• Broadening the Distributism Discussion, Philip Harold (VI,2)
• A different interpretation of the social encyclicals, David Schmiesing (VI,2)
• The economic role of the medieval guilds: continuing the distributism discussion., Thomas Storck (VII,1)
• Social credit: a distributist reform of the financial system, Oliver Heydorn (VIII,1)
• The unfeasibility of the Social Credit solution, Gabriel Martinez (VIII,2)
• Kudos to Heydorn, Thomas Storck (VIII,2)
• Social Credit is no alternative, Joseph Zoric (VIII,2)
By the same author:
• What is distributism?, (V,5)
• The good of distributism: a reply to critics, (V,7)
• Distributism, state power and papal teachings, (VI,1)
• The economic role of the medieval guilds: continuing the distributism discussion., (VII,1)
• Marriage and the use of Natural Family Planning, (VIII,1)
• Kudos to Heydorn, (VIII,2)
[back to top]
© The University Concourse, January 13, 2003
|
