[P2P-F] Fwd: Article : Debt Defaults, Austerity, and Death of the “Social Europe” Model

Thu Feb 10 19:13:40 CET 2011

Jeffrey Sommers and Michael Hudson wrote:
> There is an alternative, of course.
> It is for creditors at the top of the economic pyramid to take a loss.

This assumes all investment must be for exchange-value.

The very people in need can invest if they can learn to cooperate for
production of that which they need.

People can co-invest for use-value by committing Capital and Labor
toward production for which they have immediate use of the output.

These consumers-as-investors will then not rely upon keeping price
above cost, for the product will not even be sold - it is already in
the hands of those who will use it.

The only other important part is for those groups, when they finally
have surplus product, to recognize that selling that product can
usually be done at a price above cost because the late-coming buyer is
at a disadvantage.

If they can see that price above cost is a measure of the payer's
dependence upon the current owners, they can then see why treating
that difference as an from that payer will act as a negative-feedback
loop causing price to continually approach cost in a safe manner as
all users incrementally gain ownership (for the purpose of use-value)
in the amount they are willing to overpay for that which they need.