The people's voice. [volume] (Helena, Mont.) 1939-1969, 1943-05-14
BY LEVERNE HAMILTON
INITIATION

In our survey of the economic eve
lutionary processes we discover tina
among the most recent contributor!
to the capitalist filters, and which &C
cording to spokesman for the mucf
| befuddled capitalist leadership, is
causing the administration a perpet
ual headache is the menace of in
flation", so, since this subject pro
vides such a prolific cause of worry
for administration leaders it is well
for the average mortal to devote a
short time to inquire into the subject
discover what initiation really is, what
causes it and why it causes so much
hysteria in all parts of the capitalist
world.
Economic apologists for capitalism
are fond of exhausting the entire vo-
cabulary of twelve-dollar words in ex-
plantations which do not explain, and,
we suspect, are not really intended
to explain but simply to further CON
fuse the average mortal on the sub
ject of initiation. By this profuse dis
semination of expensive language the
apologist often creates the impression
that he really knows something which
the average mortal cannot understand
and quite often the reader, after at
to digest one of these
Learned dissertation" gives up in
disgust heaves long sigh, says. tits
too deep for me" and accepts the
apologist at his own valuation and the
opinion expressed as conclusive.
In reality there is nothing compli-
Gated about the subject of initiation
that the average mortal should find
difficult to understand if set forth in
plain English. 1t simply means that
production of desirable goods has
failed to keep pace with the consum-
ers purchasing power. In a stabil-
lied economy consumer purchasing
power and the quantity of desired
goods are approximately evenly bal
lnced so that money, the medium of
exchange is kept in constant circula-
ion. If, as had happened in 1884
md 35, the purchasing power money
If the nation was unevenly distributed
concentrated in few hands,, desir-
lble goods could not be sold and we
lad "deflation" or as Nude Eel econ
'mists put it "over-production."
II, on the other hand, when the |
lations production is concentrated on
var materials Gntended for destruc-
ion), production of desirable goods |
S correspondence reduced but the |
purchasing power is in
reasing, with the result that he has |
lenty of money but cannot buy the |
hings he desires because there are |
lot enough to go around (rationing) |
nd initiation, and the term Imitation"
hen simply means that the dollar is
cry much of anything The consum-
r having a plentiful supply of money
yill offer or be willing to pay, higher
rices to get what he wants and mon
y will buy less. Reduced then to
nipple English "deflation" means
lenty of goods and no money to buy
hem, Initiation" means plenty of
money and nothing to buy with it.
This is the tragic assininity of the
apitalist economic system that there
ever has been, and under the profit
rice system there never will be lex
ept for occasional short intervaIs), Il
balanced economy in which the
mount of money in the hands of the
onsumers approximately equals the
uantity of desirable consumer goods.
o understand why this is true we ;
lust examine further into the causes !
I Initiation"
Many factors may contribute to Gin
ation," government borrowing, which [
nder our private banking system &
Ids to the invisible money supply by i
new checking accounts, ]
tensive production of non-desirable In
pods (such as war materials which {
q intended for destruction). These !