Militarism Caused Inflation

Description

Copy of a speech written by Socialist Labor Party activist Whitney Richard. He connects the Vietnam War, Nixon’s economic policies, and inflation: “[T]here’s a catch to Keynesian economics – namely that deficit spending entails government borrowing by floating loans with the Federal Reserve System. This effectively increases the money supply, and whenever you have more dollars chasing the same quantum of goods and services, you have monetary debasement – or inflation.” (pg. 3). “Given the fact that military spending is about the least effective means of creating employment through deficit spending, given that it is most inflationary and lease humanistic means of such stimulation, why has it been the path consistently chosen by the federal government?” Answer: profit & “…preserving a global medieval empire.” (pg. 5). This Item pairs well with the immediately preceding Item D39. We were unable to find a record of this speech. This is perhaps, a unique surviving copy.