The effects of social evil show first in the arts. Most social evils are at root economic. I, personally, know of no social evil that cannot be cured, or very largely cured, economically. (E.P, "Murder by Capital", SP, 199)
Make Love, Not War was, let us say, Propertius's slogan. Pound contributed an intervening "fiscal" policy. Once we realize the importance of the financial system (the system that manages the circulation of money and credit) we can understand the pivot between love and war, viz., the slogan's pun on "making" (poiesis). There is a sense in which one "makes" war and another in which one "makes" love. But can these senses be brought together—so that a trade-off becomes meaningful?
I bought Clark Emery's Ideas into Action (University of Miama Press, 1958) because Allen Ginsberg said it had helped him to understand Pound's monetary theory. Here's one such helpful passage:
In Pound's estimation, bad poetry and social disorder are the results of misgovernment. And misgovernment may be defined as that in which the rulers misuse the wealth of the state. The Medici had made a reasonably good start (see Canto 21); learning and letters flouraged under their patronage. But the time came when their banking practices deteriorated—when, specifically, they began to lend money to the princes for their wars, instead of making it available to the mass of people who produce goods. (p. 32)
The state may choose to finance production or destruction. We could also say that it can choose between building productive capacity or producing destructive capacity.
The bailout plans and stimulus packages that are being discussed these days will ultimately lean one way or the other. It may either make credit available to the "mass of people" who, not only produce goods, but do most of the love-making, or it may be distributed to "the princes" who very definitely make war. We have just gone through eight years* of the latter, in which virtually the whole global economic order has been driven by the need to finance military operations. We have been making war, not love.
Much turns on the difference. The immediate issue of money results in a corresponding national debt. But will that debt be "secured" against future production or imminent destruction? Hopefully Obama understands the forces implicit in these kulchural basshuntz.
*It's of course been longer than that. 60 years. 160 years. Whatever. I'm talking about a specific military operation.