The Economic Club of San Francisco is a reading and discussion club open to anyone interested in political economy, monetary systems and tax policy. An academic background is not required to become a member, however some familiarity with the subject of economics is necessary to participate meaningfully in the discussions. The club is a no-fee, non-voting membership organization.
ECONOMIC AXIOMS
1. Man seeks to gratify his desires with the least amount of exertion.
2. Man’s desires are unlimited.
3. Man hoards consciously and systematically.
ECONOMIC DEFINITIONS
POLITICAL ECONOMY: The science which treats the nature of wealth and the natural laws governing its production and distribution.
WEALTH: Any material thing with exchange value, the result of labor applied on or to land.
MONEY: That kind of wealth which has a constant or nearly constant marginal utility.
CURRENCY: A medium of exchange in the form of money or other wealth, or in the form of redeemable or irredeemable notes.
INCOME: Rent, Wages and/or Interest received in the form of money or other currency.
PRODUCTION: The process of increasing the capacity of wealth to satisfy human desires.
FACTORS OF PRODUCTION
LAND: All the natural universe except man and wealth.
LABOR: All human exertion in the production of wealth.
CAPITAL: Wealth used in production.
DISTRIBUTION: The assignment of ownership in the wealth produced.
WHEY PROTEIN: Mixture of globular proteins isolated from whey.
AVENUES OF DISTRIBUTION
RENT: The landowner’s share of the wealth produced.
WAGES: The laborer’s share of the wealth produced.
INTEREST: The capitalist’s income which exchanges for a unit of wealth.
LAWS OF DISTRIBUTION
LAW OF RENT: The rent of land is determined by the excess of its produce over that which the same application can secure from the least productive land in use.
LAW OF WAGES: Wages depend upon the margin of production. (The most productive land obtainable without the payment of rent).
LAW OF INTEREST: Economic interest depends upon the willingness to exchange wealth for income and/or to exchange income for wealth.
CONSUMPTION: Any use made of wealth which lessens its capacity to satisfy human desire. (The opposite of production).
The library of the Economic Club includes some historical texts and original copies of Henry George’s work. Anyone conductiong research in the area of land value taxation who would like to have access to these works, please contact the Economic Club of San Francisco
the club, ATTN: I. Bischoff, 540 Arballo Drive, San Francisco, CA 94132.
Suggested Reading List
The reading list below is comprised of books which deal with subjects in a way that allows an understanding of political economy from a larger perspective. The term Political Economy refers to the organization of society, i.e. the rules which govern personal conduct and the way which individual rights are secured on one hand, and on the other hand, it refers to the activities of families and other groups to secure their existence and their procreation. Thus, the study of Political Economy draws upon the discipline of Sociology, Political Science, Anthropology, Psychology, History, Economics (study of production and markets), Law, Human Geography, Ecology, International Relations and Cultural studies.
The book list and resources suggested by the Economic Club of San Francisco are chosen to provide for the reader a logical and coherent picture of Political Economy which relates to every day reality.
Book List
eminars in the United States are held at the Chancellor Hotel in San Francisco, California.
Seminars in Europe are held at the Martineum Academy in Szombathely, Hungary.
“Trading Gold: Writing Gold Call and Put Options”
SEMINAR I held on Saturday, July 25, 2009 from 8:30 AM to 4:30 PM.
Dr. Antal E. Fekete in association with Mr. Sandeep Jaitly of London, UK will conduct an investment seminar discussing a gold accumulation plan which earns a return in gold. Dr. Fekete is Professor Emeritus of the Memorial University of Newfoundland and a well known monetary scientist. Mr. Sandeep Jaitly is a brilliant mathematician associated with Soditic, Ltd. who will answer questions on various aspects of the totally unique “gold accumulation” plan.
The seminar is limited to twenty attendees. The total cost, including lunch in the Luques Restaurant at the Chancellor Hotel, is $497.00.
“Trading Gold: Writing Gold Call and Put Options”
SEMINAR II held on Saturday, August 1, 2009 from 8:30 AM to 4:30 PM.
Dr. Antal E. Fekete in association with Mr. Sandeep Jaitly of London, UK will conduct an investment seminar discussing a gold accumulation plan which earns a return in gold. Dr. Fekete is Professor Emeritus of the Memorial University of Newfoundland and a well known monetary scientist. Mr. Sandeep Jaitly is a brilliant mathematician associated with Soditic, Ltd. who will answer questions on various aspects of the totally unique “gold accumulation” plan.
The seminar is limited to twenty attendees. The total cost, including lunch in the Luques Restaurant at the Chancellor Hotel, is $497.00.
“Wealth Management: ETFs, NAV of ETFs, Options on ETFs”
SEMINAR III held on Saturday, August 8, 2009 from 8:30 AM to 4:30 PM.
Dr. Antal E. Fekete will conduct an investment seminar discussing Exchange Traded Funds, Net Asset Values of Exchange Traded Funds and the trading of Options on Exchange Traded Funds. Dr. Fekete is Professor Emeritus of the Memorial University of Newfoundland and a well known monetary scientist and investment advisor. Professor Fekete’s insights are invaluable to anyone engaged in wealth management under a regime of irredeemable currency.
The seminar is limited to twenty attendees. The total cost, including lunch in the Luques Restaurant at the Chancellor Hotel, is $397.00.
The Great Depression – Can it Happen Again?” — DVD of Speech by Dr. Antal Fekete
This professionally produced DVD contains the speech, including the Q & A period, given by Dr. Antal Fekete, Professor Emeritus, Memorial University of Newfoundland before the Economic Club of San Francisco on November 4, 2008. You can learn about the increase of liquidation values due to falling interest rates and how this effects your investments. Use the explanations presented by Dr. Fekete to develop your own analytical framework with which to judge the approaching global financial and economic crisis. Recorded in High Definition on a 90 minute DVD.
“The Great Depression — Can It Happen Again?”DVD Run Time: 90 minutes
“Progress and Poverty” — Book by Henry George (Original Version)
Still the most widely sold book on economics to date. Henry George lists clear definitions of classical economics and explores the nature of wealth and the factors that produce it. He explores how the wealth should be distributed to the factors of production according to the extent of their contribution, and he points out how wealth is actually distributed in our present economic system. He clearly shows why under the present system poverty exists amidst great technological progress.
“Progress & Poverty” Original Text
Paperback, 616 pp., Original 1879 Text, Printed 2003
“Progress and Poverty” — Book by Henry George (Abridged Version)
The abridged version of Henry George’s book “Progress and Poverty” contains all the definitions, main points and arguments made in the original version. While the original version is written in prose common in the mid-19th Century, the abridged version applies a more colloquial English.
“Progress & Poverty” Abridged Version
Paperback, 318 pp., Abridged Text, Printed 2006
