Can Social Credit be applied in developing countries?

Written by Louis Even on Thursday, 01 October 2009. Posted in Social Credit

In a precedent article, we have exposed the case of the economy of developed countries. Their economic state shows the discord between reality and the financial domain and the unjustifiable submission of reality to finance, in a very obvious way.

But this does not mean that the Social Credit principles would be inapplicable in developing countries. In these countries as well, an economic organism should make finance a reflection of reality. There, the problems of production still exist to a pressing degree. Their present production capacity is still weak; their finance should be the exact reflection of this state of affairs: it serves nothing to issue purchasing power when there are no products to match them.

These countries possess material riches, but they do not have the necessary means in tools, machinery or competence to bring them to yield. They could obtain what they need in return for foreign aid. They would need, for example, financial means from abroad to help them procure the tools that they do not have the means to manufacture themselves. But this help, in order to be really useful, should not become a burden of debts on their economy and turn these countries into economic colonies of the financial or industrial consortiums of richer nations.

The present methods of those who have control of credit do not allow such free aid. Neither do the big exporting nations, who accuse the disinterested competitors of harming the international markets. But a developed country with a social credit financial system could escape from these egotistical considerations. And if the government of a social credit country remained indifferent to the fate of poorer nations, the citizens of this country who are totally or partially liberated from their material worries, as long as they have the spirit of fraternity of the Gospel, would without a doubt make it a duty to help to liberate their brothers who are less favoured. They could do this in ways that are very diverse, whether it is to obtain consumer goods for their more urgent and immediate needs or to help them equip themselves in order to recoup their local resources

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