Statement of Purpose
ICE - Institute for Creditary Economics
The main purpose of the modern economy must be to satisfy human needs.
ICE is therefore dedicated to a renewal of domestic and international financial policies for the short and long-term common good. One intermediate tool must be the achievement of high and stable rates of real investment, productivity and production, at the highest practicable levels of reward and employment of labour and its diversified skills.
Domestic austerity policies are a core problem of modern economies.
Economic policies have strangled our productive potential and so our capacity adequately to supply our consumer and capital markets, create and maintain high-quality modern infrastructure, and provide the welfare and sound environment essential to a caring and civilised society. This unfortunate policy has been creating social and financial tensions and instability domestically and internationally.
A general misunderstanding of the character and function of financial markets,
their interrelationship with production and consumption, as well as their relationship to prices, has promoted this policy. To illustrate, misguided generalisation has led to a failure to distinguish between productive and unproductive purposes for credit creation, and to indiscriminate use of the interest rate tool.
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