Social Credit and the Family

OUR monetary system places great burdens on families and makes it difficult for men to be providers and women to be nurturers. Furthermore the policy of full employment is ineffective and unnecessary — and difficult to achieve with advanced technology, which eliminates many jobs. The basic problem is not simply jobs, but availability of money.
Michael Watson at the Clifford Hugh Douglas Institute for the Study and Promotion of Social Credit writes that there is a better way.
Social Credit, by wresting control of the overall policy of the monetary system from the private banks and placing it back in the hands of the public via the establishment of a National Credit Office, would break the monopoly of the private banks regarding the issuance of new money. The NCO’s new compensatory consumer credit (meant to balance the flow of incomes with the flow of prices) would be ‘debt-free’ and it would be issued in the form of a national or citizen’s dividend that is distributed equally to every individual, employed or unemployed, as a kind of credit for the work of the vast and abundant production made available by machinery. All citizens who receive the dividend are effectively shareholders in the total national production. The National Dividend will ensure at least basic economic security for individuals and by extension, their family units, without making employment a strict necessity. (more…)



