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‘Wealth, Virtual Wealth and Debt’ explains the ‘Economic Paradox’ and offers a Solution. Frederick Soddy – Dr. Lee’s Prof. of Chemistry (Oxford University), Nobel Laureate in Chemistry, 1921, Author of ‘The Interpretation of Radium’, ‘Matter and Energy’ and “Science and Life’.
Description
“The idea that the nation is in a possession of a mysterious talisman called credit which, when industry is unable to pay for the initiation of fresh production, can supply it with all that is needed without anyone giving up anything at all, and that this National Credit consists of the accumulated result of all the past centuries of past effort, when the whole trouble is that these accumulations are owned by private individuals, is to push the confusion between debt and wealth to lengths that would have surprised even the author of ‘The Theory of Credit’." It means that the author does not fully understand C. H. Douglas’s Social Credit.
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