The Meaning of Credit


  • Philip McShane Mount Saint Vincent University


belief and credit, finance, economic democracy


The reach here is for relevant guidelines to the search for a meaning to the word credit and to the activity of credit-giving. It draws on the work of Joseph Schumpeter on norms of constructive credit in relation to economic progress and development. More fundamentally, it draws attention to the need for a new level of serious science regarding our own performances of belief and credit-giving. What is at stake is the slow emergence of a novel type of economic democracy quite foreign to present centralism, an emergence depending on a novel style of reading on the part of the reader.