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MONEY, BANK CREDIT, AND ECONOMIC CYCLES phần 10

nổi lên như là hệ quả tất yếu của một hệ thống phân đoạn dự trữ ngân hàng tư nhân. Trong một bối cảnh dự trữ phân đoạn, nó là ngân hàng tư nhân cuối cùng nhu cầu cho vay cuối cùng để giúp họ vượt qua các cuộc khủng hoảng kinh tế và suy thoái theo chu kỳ một hệ thống như khiêu khích. Chúng tôi sẽ kết thúc chương với một cái nhìn tại các định lý không thể xã hội chủ nghĩa | 788 Money Bank Credit and Economic Cycles 5 An Economic Analysis of the Process of Reform and Transition Toward the Proposed Monetary and Banking System To begin this section we will briefly consider the major issues involved in any political strategy for bringing about economic reform in any area including that of finance credit and money. a Few Basic Strategic Principles The most serious danger to all reform strategies looms in the political pragmatism of daily affairs which often causes authorities to abandon their ultimate goals on the grounds that they are politically impossible to reach in the short term. This is a grave danger which in the past has sabotaged different programs for reform. Indeed pragmatism has systematically prompted politicians to reach joint ad hoc decisions in order to acquire or retain political power and these decisions have often been fundamentally incoherent and counter-productive with respect to the most desirable longterm objectives. Furthermore as discussion has centered exclusively on what is politically feasible in the immediate short term and final goals have been postponed or forgotten entirely authorities have not completed the necessary detailed study of these goals nor the process of spreading them to the people. As a result the possibility of creating a coalition of interests in support of the reform is continually undermined since other programs and objectives considered more urgent in the short term weaken and overshadow such an effort. The most appropriate strategy for the reform we propose must therefore rest on a dual principle. The first part consists of constantly studying and educating the public about the substantial benefits they would derive from the achievement of the final medium- and long-term objectives. The second part involves the adoption of a short-term policy of gradual progress toward these objectives a policy which must always A Proposal for Banking Reform The Theory of a 100-Percent Reserve .