MONEY IS NOT ECONOMY
By Lyndon H. LaRouche, Jr.

High up on the list of useless people these days, are those who ask, "How is the market doing today?" Worse fools, these days, are those who try to answer that question. I am reminded of what Immanuel Kant wrote, in one of his rare outbursts of sanity. Kant said that there are certain kinds of people, such that one will try to get milk from a he-goat, and the other will hold the sieve.

Economy is not financial; it is physical. The first measurements made by any competent economist, are measurements of physical things produced and consumed per capita and per square kilometer. Measurements must be made as functions of relations of increase or decrease of physical standard of living, and per-capita output-rates, and physical capital-capital accumulation. The value of money, and of profit is measured against those purely physical, rather than monetary functions. Anyone who claims to be an economist, and does not start his argument with measurements of whole economies, as an indivisible unit, measuring income and output in physical units per capita and per square kilometer, is a quack, and to be treated as one.

That is why I am the only known, competent internationally long-range economic forecaster of the recent four decades. Not that I am that good; it is just that all of my professional rivals in the field of long-range forecaster are bad, or worse, or dangerous lunatics such as the world's most dangerous bungler, Alan "side-bets" Greenspan.
I am herewith instructing all among my associates to stop the nonsensical attempt to sound like a typical academic economist when they begin to write or speak about the economy. It is true, that we are gripped by a global hyperinflationary process. It is true that the world is gripped by the biggest "John Law" bubble of financial hokum in world history. It is true that what we are seeing in financial markets is the final stage of build- up for the biggest financial crash in world history. It is true that a careful study of monetary and financial data would show that to be the case. However, ask yourself, "Once you have proven that case, what have you done, positively, for mankind." Saying, "He's sick! He's sick! He's sick," may not be a lie, but it does not measure up to the standard for reporting useful truth. The truth will be found only by starting with the non-monetary, physical functions to which I have pointed again here,

There is a monetary-financial process, of course. The mistake is to attempt to explain the physical economy's facts from the starting-point of monetary processes. As the only candidate for President of the U.S.A. who is qualified to understand or cure the present economic collapse in progress, I demand that no report be put on my desk, or issued in my name, which does not begin and end with functions defined in strictly physical terms, per capita and per square kilometer, first for the whole territory and population of the U.S.A., and, similarly, for the rest of the world.

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