Inflation's demands—and the supply of spiritual answers

Interview with a banker

Editor: To many people inflation seems tremendously complex and baffling because there are so many contributing factors. Some point to deficit spending, OPEC price increases, defense expenditures, overpopulation, underproduction, scarcity of resources, too much government interference in the free market. Is inflation an umbrella term for a number of distinct problems? Or is there some single underlying error that people could target metaphysically?

Banker: Yes, I think instead of trying to find all kinds of sophisticated definitions of inflation, the metaphysician can narrow it down. I would define inflation as an imbalance in the equation of demand and supply, an imbalance in which there is a confusion of wants with needs on the side of demand and an uncontrolled distribution of funds on the side of supply. In the United States, for one example, the Federal Reserve System opens or closes the taps that regulate the supply of money to the economy. It does so by controlling the creation of credit through the nation's commercial banks. Christian Science opens up a whole new perspective. It shows that the only real supply is Mind's unfluctuating provision of useful, productive ideas. This supply can never be artificial or excessive. It corresponds exactly with Mind's demand to be expressed. I believe this is a practical, beginning approach to solving this complex problem.

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Editorial
Racism and prophecy
March 31, 1980
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