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Salvation Through Inflation: The Economics of Social Credit
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Author:
Gary NorthNumber Of Reads:
42
Language:
English
Category:
Social sciencesSection:
Pages:
333
Quality:
excellent
Views:
365
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Book Description
Most conservatives say not, at least until the combination of deflation and depression produces mass unemployment. Then they, too, always join the chorus calling for the government to Do Something. And what does the government do? It forces the nation's central bank to buy more government debt with fiat money created out of thin air (or computer entries).This has been going on since at least 1920. It is not likely to stop until men learn a painful lesson: monetary inflation only postpones the inevitable disaster. Depressions are caused by monetary inflation in the first place. Only when a majority of voters learn to fear price inflation more than they fear price deflation will we enter a new economic and political era.One international conservative movement has long promoted the idea that inflation is mandatory to save the capitalist system. The group is called Social Credit. Since 1917, defenders of this reform scheme have offered arguments against free market money, private banking, and gold. Many of them have been fundamentalist Christians. In the 1930's, they captured the Canadian province of Alberta and kept control for a decade. In 1949, the great Austrian economist Ludwig Von Mises wrote that to refute Social Credit economics is to refute inflationary policies of every modern government. Yet until Salvation Through Inflation, no book had challenged the economics of Social Credit since the 1930's.Social Credit ideas have spread from England to Canada, Australia, New Zealand, and South Africa. Its proposed reform resembles the reform proposals of the late nineteenth-century's "greenback" movement in the United States, which still exists in the "underground" of America's far right. Salvation Through Inflation provides a comprehensive but easy-to-read refutation of these ideas. It invokes the Bible and Austrian economic analysis to challenge the economics of Social Credit.
Gary North
Gary Kilgore North  was an American writer, Austrian School economic historian, and leading figure in the Christian reconstructionist movement. North authored or coauthored over fifty books on topics including Reformed Protestant theology, economics, and history. He was an Associated Scholar of the Mises Institute.
He is known for his advocacy of biblical or "radically libertarian" economics and also as a theorist of dominionism and theonomy. He supported the establishment and enforcement of Bible-based religious law, a view which put him in conflict with other libertarians.He believed that capital punishment is appropriate punishment for male homosexuality, adultery, blasphemy, abortion, and witchcraft. North was born in San Pedro, California, on February 11, 1942, and grew up in Southern California, the son of FBI special agent Samuel W. North Jr. and his wife Peggy. North converted to Christianity in high school and began frequenting conservative book-stores in the Los Angeles area during his college years.Between 1961 and 1963, while an undergraduate student at University of California, Riverside, North became acquainted with the works of Wilhelm Röpke, Rose Wilder Lane, Cornelius Van Til, Austrian School economists Eugen Böhm von Bawerk, Ludwig von Mises, F. A. Hayek and Murray Rothbard, and also read the works of Calvinist philosopher Rousas John Rushdoony.Later he married Rushdoony's daughter, collaborated with him and eulogized Rushdoony in a blog post on LewRockwell.com. Starting in 1967, North became a contributor to the libertarian journal The Freeman where he had first read the work of Ludwig von Mises and Friedrich Hayek.In the 1970s, he was the director of seminars for the Foundation for Economic Education (FEE). North received a PhD in history from the University of California, Riverside in 1972. His dissertation was The Concept of Property in Puritan New England, 1630–1720.
He served as research assistant for libertarian Republican Congressman Ron Paul in Paul's first term (1976). North was a regular contributor to the LewRockwell.com website, which lists an extensive archive of his articles there. North's own website, Garynorth.com, posts commentary on religious, social, and political issues and offers paid access to investment advice and other premium content. North also published a blog called Deliverance from Debt which provided advice about relief from debt. Another North website, "Free Christian Curriculum", seeks to provide a free Christian homeschooling curriculum for children from age 3 through grade 12.
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This book is currently unavailable for publication. We obtained it under a Creative Commons license, but the author or publisher has not granted permission to publish it.
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