8 — Making it Happen: Money vs. Credit

November 29, 2017 — Now that we have covered scientific and technological breakthroughs as specific advancements, making jumps in the economy, and how a system of infrastructure is best understood as providing a platform for a level of economic activity, we take up the question: “How do we organize social structures to make this happen?” How do national banking and federal credit differ from money?

Assignment:

  1. List and briefly describe two large projects financed by the Reconstruction Finance Corporation (RFC) and two financed by public-private partnerships (PPP).

  2. Looking to the future, describe two useful and necessary large infrastructure projects that could be financed by a PPP. Name two that could not. What’s the difference between them?

  3. The dome at the Cathedral of Santa Maria del Fiore was completed by Filippo Brunelleschi over a century after the cathedral’s construction began. Did this magnificent structure, a testimony to human ingenuity and achievement, turn a profit? What is its value?

Reading for next class:

  • Lyndon LaRouche on the role of fundamental scientific discovery in economic progress

 

Showing 10 reactions

Please check your e-mail for a link to activate your account.
  • Oswaldo Koeneke
    commented 2017-12-20 17:39:56 UTC
    Reckoning abut a chinesse engineer working side by side with a similar experienced american engineer, here in the US, let’s say in a project in West Virginia, how much would each be paid since in China the first would make a little fraction (1/11) of the wage of the second in spite of both having the same level of productivity. Would the reinstatement of the GS would level their wages off or all of the four laws have to be in place so as to be able for them to conform an equilibrate wage among the two?
  • Daniel Richards
    commented 2017-12-16 18:19:12 UTC
    At what point was the prohibition of securities brokering removed from the banking act which necessitated its reintroduction by F. Roosevelt?
  • Ruth Baird
    commented 2017-11-30 02:00:34 UTC
    Will the transition from a monetary system to a credit system involve the abolishment of the Fed? What would be the steps in getting this done and how long will it take? Would the Treasury Department be responsible for the issuance of credit or would Congress? Would we need to complete this transition before joining the Belt and Road?
  • Gregory Unger
    commented 2017-11-30 01:42:32 UTC
    Hi, please pardon my thickness. Am I correct in understanding that credit is a dollar printed by the government and spent on infrastructure or other useful projects, whereas “printing money” is a dollar printed by the government and placed in a bank’s coffers to keep it solvent?
  • Benjamin Deniston
    commented 2017-11-29 20:14:46 UTC
    Hello all, tonight’s class will start at 7:30 eastern!
  • Karen Lemire
    commented 2017-11-29 20:06:52 UTC
    I am also wondering what time Class 8 will start tonight. Thanks! Love the classes!
  • Daniel Richards
    commented 2017-11-28 22:10:43 UTC
    Ok, let’s get this thing started. Quick slackin’ off over there at the LPAC offices! Too much time in between lessons. :D
  • Benjamin Deniston
    followed this page 2017-11-28 19:03:22 UTC
  • Alicia Cerretani
    commented 2017-11-23 00:31:03 UTC
    Hi Ruth, no class tonight. Join us again for class no. 8 next Wednesday. However, our weekly Fireside Chat is scheduled later tonight at 9:00 pm eastern!!
  • Ruth Baird
    commented 2017-11-23 00:02:00 UTC
    What time does the class start?

Donate Volunteer Find an Event

connect