Tuesday, 12 August 2008
Crazy ideas: social credit file
Of the ideas that economists have to deal with every so often, one of the stranger ones is that of Social Credit monetary theory. Here in New Zealand Social Credit was once a third party with a reasonable following by voters. Even today it is still alive as part of the Democrats. Back in 1955 it was such a force that an economist at the University of Canterbury Alan Danks (later Professor and Sir) wrote a short pamphlet explaining what was wrong with the Social Credit approach to economics. The pamphlet is What Everyone Should Know about Social Credit by A.J. Danks, Christchurch: The Caxton Press, 1955. We have scanned it to a pdf file which is available here for those interested.