REAL CREDIT is a correct estimate of the rate, or dynamic capacity, at which a community can deliver goods and services as demanded. FINANCIAL CREDIT is ostensibly a device by which this capacity can be drawn upon. It is, however, actually a measure of the rate at which an organization or individual can deliver money. The money may or may not represent goods and services.
The existing financial system exists by seeing that the public never gets quite enough of any one thing it wants, by constantly diverting the productive organization before it has time to finish any one task; or else ‘sabotaging’ the output, and while we require for this reason at the moment ‘more’ of the fundamental necessaries of life, we do not require an indefinite amount even of these. As has so often been emphasized in the forgoing pages, the whole problem fundamentally resolves itself into providing an organization to get first things first, with the minimum of trouble to everyone.