Economy

A Handbook o Industrial Districts by Giacomo Becattini; Marco Bellandi; Lisa De Propris

By Giacomo Becattini; Marco Bellandi; Lisa De Propris

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In all these cases repayment and servicingl (by way of paying the due share of expost profits) will be fully within the competence of the public authority. Cooperative societies may be encouraged to organise instalment purchase for the consumers. While there is every argument in favour of increasing the individual's efficiency and improving his standard of living through acquisition of consumer durables early in life, in lieu of payment out of future income, this has to be done in a manner that does not involve transfer of a sizeable proportion of his income to rentiers by way of interest on credit extended to him.

Insofar as they fail to do so, interest payment involves a transfer of existing resources from the poor to the rich countries. This would be inconceivable under a system where the returns are tied to actual additions to wealth and not predetermined as in the case of interest The regime of interest has been a major factor responsible for the worsening distribution of income and wealth within and between nations. Fiscal measures directed at alleviating the situation, in some countries, fail to counter this trend and can, at best, be regarded as wasteful cures for an ill of the system's own creation.

Wealth is concentrated amongst the few and it brings them more wealth, not because the wealthy have greater expertise, enterprise and ingenuity than others but thanks to the institution of interest With wealth goes power. Power, in fact, has a greater tendency to concentrate. As the many become poorer they become exceedingly powerless. This makes a sham of'democracy' as the press. the platform and the party. like all other institutions of IKotz. David M: Bank Control of Large Corporations of California Press.

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