We hear much about the cancellation of student debt. While a worthy effort, not much thought has been given to its implications. And I do not mean economic implications alone. Let us start with a brief examination of a few social implications.
There is much wisdom in the Principle of Subsidiarity. See, e.g., Thomas C. Behr, Social Justice and Subsidiarity. This is a key principle of the social doctrine of the Catholic Church. Concordian economics offers the opportunity for an automatic application of this principle.
I have written about money woes issues separately in the past on a variety of venues, but consistently on Econintersect and Talk Markets. Let me now gather these thoughts together. A confluence of impelling crises requires this synthesis. Here I argue for the institution of a global currency – the Bancor – first proposed by John Maynard Keynes at Bretton Woods in 1944.
Over the years, I have written in many venues about the extreme importance of four economic rights and responsibilities and their transformation into four Concordian economic policies. My writings on this topic have consistently received the most readers, all over the world.
To my unending surprise, spurred by our immediate needs I have recently discovered
another major—major—ability of Concordian economics. Here it is: With the tools offered by
Concordian economics, we can stop inflation cold.
Let us see how.