Author Topic: Leon Trotsky, defender of the gold standard against radical professors  (Read 742 times)

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recursivelyenumerable

  • you might think that; I couldn't possibly comment
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http://www.marxists.org/archive/trotsky/1934/08/ame.htm

whoa, i just stumbled upon this (from an 1934 article about how awesome a communist US would be)

Quote
Most Americans have been misled by the fact that in the USSR we had to build whole new basic industries from the ground up. Such a thing could not happen in America, where you are already compelled to cut down on your farm area and to reduce your industrial production. As a matter of fact, your tremendous technological equipment has been paralyzed by the crisis and already clamors to be put to use. You will be able to make a rapid step-up of consumption by your people the starting point of your economic revival.

You are prepared to do this as is no other country. Nowhere else has the study of the internal market reached such intensity as in the United States. It has been done by your banks, trusts, individual businessmen, merchants, traveling salesmen and farmers as part of their stock-in-trade. Your soviet government will simply abolish all trade secrets, will combine all the findings of these researches for individual profit and will transform them into a scientific system of economic planning. In this your government will be helped by the existence of a large class of cultured and critical consumers. By combining the nationalized key industries, your private businesses and democratic consumer cooperation, you will quickly develop a highly flexible system for serving the needs of your population.

This system will be made to work not by bureaucracy and not by policemen but by cold, hard cash.

Your almighty dollar will play a principal part in making your new soviet system work. It is a great mistake to try to mix a “planned economy” with a “managed currency.” Your money must act as regulator with which to measure the success or failure of your planning.

Your “radical” professors are dead wrong in their devotion to “managed money.” It is an academic idea that could easily wreck your entire system of distribution and production. That is the great lesson to be derived from the Soviet Union, where bitter necessity has been converted into official virtue in the monetary realm.

There the lack of a stable gold ruble is one of the main causes of our many economic troubles and catastrophes. It is impossible to regulate wages, prices and quality of goods without a firm monetary system. An unstable ruble in a Soviet system is like having variable molds in a conveyor-belt factory. It won’t work.

Only when socialism succeeds in substituting administrative control for money will it be possible to abandon a stable gold currency. Then money will become ordinary paper slips, like trolley or theater tickets. As socialism advances, these slips will also disappear, and control over individual consumption – whether by money or administration – will no longer be necessary when there is more than enough of everything for everybody!

Such a time has not yet come, though America will certainly reach it before any other country. Until then, the only way to reach such a state of development is to retain an effective regulator and measure for the working of your system. As a matter of fact, during the first few years a planned economy needs sound money even more than did old-fashioned capitalism. The professor who regulates the monetary unit with the aim of regulating the whole business system is like the man who tried to lift both his feet off the ground at the same time.

Soviet America will possess supplies of gold big enough to stabilize the dollar – a priceless asset. In Russia we have been expanding our industrial plant by 20 and 30 percent a year; but – owing to a weak ruble – we have not been able to distribute this increase effectively. This is partly because we have allowed our bureaucracy to subject our monetary system to administrative one-sidedness. You will be spared this evil. As a result you will greatly surpass us in both increased production and distribution, leading to a rapid advance in the comfort and welfare of your population.

also US will be way better at eugenics than those Nazi posers

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While the romantic numskulls of Nazi Germany are dreaming of restoring the old race of Europe’s Dark Forest to its original purity, or rather its original filth, you Americans, after taking a firm grip on your economic machinery and your culture, will apply genuine scientific methods to the problem of eugenics. Within a century, out of your melting pot of races there will come a new breed of men – the first worthy of the name of Man.

 :american
« Last Edit: January 06, 2009, 02:48:26 AM by recursivelyenumerable »
QED