Page 10 - Michael Journal March 2020
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Distribution Economics:
Guiding Principles of Social Credit
The previous article notes that “in the forty serve their members;
years between 1934 and 1974, Louis Even wrote members must not be
an extensive and general survey of Social Credit expected to serve the
that would require an entire encyclopedia to re- association.
produce”. Mr. Even stated that the purpose of So- To provide goods to each and every person
cial Credit was the distribution of abundance; that
it was money in the hands of citizens which was A truly social economic system must therefore
lacking, not products. Following is the text of an ensure that earthly goods meet the temporal needs
article written by him in 1947 which explores the of EACH and ALL members of society. According to
guiding principles of Social Credit economics. Pope Pius XI,
Social Credit states that a truly humane pol- “For then only will the economic and social
itical, economic and social system must seek to organism be soundly established and attain its
establish and maintain the rights of all individuals. end, when it secures for all and each those goods
Temporal, economic, financial and governmental which the wealth and resources of nature, technical
achievement, and the social organization of eco-
institutions must serve the individuals and families nomic affairs can give” (Encyclical letter Quadrages-
that comprise society and not vice-versa. imo Anno).
The following paragraphs outline the principles The share made available to each person must
that guide Social Credit economics. It is concerned be sufficient to meet basic needs. Pius XI continued,
more specifically with the economics of distribu-
tion and, more precisely, with the financial system “These goods must be sufficient to supply all
that is required to support a distributive economy. needs and an honest livelihood, and to uplift men
to that higher level of prosperity and culture which,
Earthly goods were created for all men provided it be used with prudence, is not only no
Earthly goods were created to meet the tem- hindrance but is of singular help to virtue” (Ibid.).
poral needs of the entire human race, i.e. all men, To be truly humane, the economic system must
not just some or certain classes of men. This does not only ensure that goods are made available to
not mean that all men must be equally prosper- each and every person, it must do so while respect-
ous, but that all must have the ability to satisfy their ing personal freedom. The system will be performing
basic needs. The means and methods by which at a peak level when it succeeds in producing and
goods are owned, controlled, produced or distrib- distributing goods with a minimum of encroachment
uted can be said to be legitimate only if they are upon individual freedoms. Its highest perfection will
be reached when it liberates people from material
ordered toward achieving this goal; they are evil servitude and allows for the pursuit of a life of culture.
or impaired when they prevent this goal from be-
Social Credit advocates that a Dividend be distrib-
ing attained. uted periodically to each citizen from birth to death.
Providence has placed upon the earth, in one The Dividend, based on modern productive capacity
form or another, everything necessary to satisfy and natural entitlement, would allow everyone be-
the normal needs of men, given cooperation and longing to an organized society to draw upon their
sound social organization. country’s available production.
The goal of economic activity Changing what needs to be changed
Economic activity is that which is concerned
If the present economic system is faulty and
with adapting the goods of the earth to meet men’s fails to provide every person with a proper share of
temporal needs. Well-ordered economic activities the goods that nature and industry have to offer, then
must place goods within the reach of those who it is the duty of society’s government, responsible for
need them. In organized societies, economic sys- the common good, to change or correct it. After all,
tems exist to facilitate this goal. systems are made for men and not men for systems.
Societies that are correctly organized exist for System change must be accomplished swiftly
the benefit of their members. The very idea of as- and with the least infringement on legitimate per-
sociation precludes the exclusion of anyone who sonal rights. Social Credit would restrict and circum-
belongs to the association. Associations must scribe the evil in today’s system, changing only what
12 MICHAEL January/February 2020 www.michaeljournal.org
