THE ECONOMIC PROBLEM

Otago Daily Times, Issue 23499, 13 May 1938, Page 13

THE ECONOMIC PROBLEM

TO THE EDITOR Sir—Professor Souter’s reply does not seem adequate. The question before us is not whether the treatment or hearing given at the W.E.A. classes to followers of Major Douglas is reasonable—as he assures us it is._ The matter of this correspondence is the economic problem and whether Professor Souter is prepared to stand by his dictum that the economic problem consists in the “ allocation of scarce means to desirable ends.” I suggest that the only real scarcity is a scarcity of money. Professor Souter invites me to attend his W.E.A. class, but does not mention, still less demonstrate, any other real scarcity. He has an air of incredulity about the money scarcity, and I invite him to demonstrate that the existing money system is adequate as a mechanism of distribution under modern conditions. The onus of proof lies on the affirmative. The professor’s next effort mentions the “ immense ” waste “ incurred in the actual operation of the ecdnomic system,” but discreetly evades the question of the money system. He accuses “ popular monetary reformers of a “ delusion-” that only they are aware of the economic problem or studying it without prejudice. I suggest that these “popular monetary reformers ” in their local association would be willing to discuss the nature of the economic problem with him, and its best means of solution, at any time and place that might conveniently be arranged. Professor Souter replies that the followers pf Major Douglas have for a long time and still do receive reasonable hearing at his W.E.A. classes. We infer that the professor does not intend to discuss the economic problem outside his W.Hj.a. clssscSi It is an important problem—the most important in the world at the present time. Social and international peace hang upon its solution. Hut i think we may say that regarding it we have nothing more to learn trom Professor Souter.—l am. etc., Dunedin, May 12. Truth.