What is truth?

20-9–16
Letters to the Editor
Western Leader
Aidan Crabtree (Western leader 13-9-16) says that wages are insufficient for most people. I agree. But there is no proper solution in forcing employers to pay more. All the costs of running a business must be recovered in the prices charged by the business. Higher costs, as in higher wages, higher overheads, etc., must be recoved in higher charges by that business, otherwise the business will go bankrupt.
The money system ought to be seen as society’s accounting system and able to be modified as factors such as labour-saving technology arise. Presently the production system staggers haphazardly along because the consuming public, which is all of us to one extent or another, have been permitted to mortgage ourselves to appalling levels. All new money presently introduced to  the system only adds to debt levels. A portion of new money creations needs to be introduced directly to consumers.
Iceland and Japan have been examining this and it’s pleasant to see there is some discussion even in banking and political circles in the UK.
Yours sincerely,
Bill Daly

Comments on: "wages are insufficient for most people" (1)

  1. ALL money is created as debt. As soon as it appears out of nowhere, interest is owed to the private bankers, while they laugh at the stupidity of it all or was that, us all?
    Nearly all families in the UK receive benefits.
    That tells you everything you need to know.
    The average job does not pay a living wage BECAUSE, we are taxed left right and centre. Nothing left to live on.
    We need to press the “reset button” on capitalism, it ain’t workin’ .

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