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

 


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