Any financial and monetary measure of a currency’s stability within the old paradigm of Debt/Loan Only will be suspect and subject to an “on the ground” analysis of actual economic conditions not fallacious and/or biased measures that favor the further dominance and control by the business model of Private Finance.
The entire problem with economic theory and everything else is it is stuck in duality and lacks a concept and means of the resolution of duality. Duality as ultimate reality is delusion, and anything that enforces dualities enforces conflict and non-resolution of problems. A problem itself is a duality defined as emotion/counter emotion, idea/counter idea, force/counter force. As wisdom is the integrative process itself and grace its highest concept of duality integrated to the point of thirdness greater oneness, it is the required concept and formula for the resolution for any problem including the resolution of the currently reigning paradigm for inquiry, i.e. Science Only. This resolving new paradigm and scientific breakthrough realization that the cosmos itself is one gracefully flowing dynamic, interactive, integrated/integrative whole….that is experienced by us with space and time tossed into it I dub as Gracience.
[ (Science x Wisdom) —> Gracience ]
[ (Space x Time) —> Grace/Self Awareness/Consciousness Itself ]
If the Democrats want to defeat Trumpism they’re going to have to come up with an agenda that is an obvious and full throated improvement not the slow slide toward sefdom that conservative and liberal orthodoxies so suavely and deceptively will guarantee. This leaves out a milk toast compromise that is ineffective, goes nowhere and so solidifies the ongoing process of contention to the point of disintegration we see looming up around us. It requires an actual synthesis/integration of truths, workabilities, applicabilities and the highest ethical considerations of opposing perspectives.
Economic theory mongering is largely a fruitless task. Macro-economics is a relatively young body of knowledge while the current monetary and financial paradigm has not changed for over 5000 years. Hence macro-economics has a very short cultural horizon viz the current monetary paradigm that has never even been objectively examined let alone shed in favor of a new one.
Private financial capitalism is IMO a huge pile of shit. Socialism may not be quite as large a pile being number two of two, but it is equally as orthodox and rigid. If we adhere to the wisdom of dialectical/logical/integrative thinking we’ll be on the right track. Discerning the new monetary and financial paradigm and discovering an integratively universal way to implement it will result in the new economics we all desire.
And that is what Wisdomics-Gracenomics does.
Steve Hummel 11/13/2018
An interesting and encouraging post to me as I’m almost the only person here who has advocated specific policies and institutional/corporate changes (ending private finance’s money creating abilities, creating a publicly administered public banking system in its place and a central monetary authority specifically mandated to distribute money/credit for the two policies of a universal dividend and a 50% discount/rebate policy at retail sale)
In my many posts about the two policies above to libertarian and conservative blogs I would always get terminally orthodox replies like, “Oh, that’s wage and price controls you idiot. They were never able to comprehend that the policy being implemented only at the precise ending point of the economic process for every consumer item at retail sale meant that it never had anything to do with price discovery or any kind of intrusiveness upon it. I’d get terminally orthodox reactions from liberals about the same policy because they accepted the quantity theory of money and the velocity of it re-circulation even though again retail sale is the terminal expression point for all forms of inflation and a 50% discount at that point would dwarf garden variety inflation and with a few intelligent regulations accompanying the policy even that could be greatly minimized thus miraculously, for the terminally orthodox at least, integrating price deflation painlessly and beneficially into profit making systems for both individual and commercial agents.
Liberals had better awaken to the efficacy of the new monetary, economic and financial paradigm of Gifting before some conservative politician recognizes just how potent and beneficial its policies actually are for everyone…..and then sweeps every liberal out of office with them. Conservative politicians are generally much smarter about grasping and utilizing power than liberals. Maybe liberals can wake up and die right for once. It would also certainly make the probability of the progressive cultural agenda much more likely.
How many times do we have to beat the dead steed of DSGE before we start crafting actually resolving policies that replace it???
Recognizing the single concept of a new paradigm is the most “outside the box” thing one can experience, and because a new paradigm is simultaneously a new pattern that the single concept fits seamlessly into the thing society can most benefit from.
Steve Hummel 11/12/2018
JC: GFC II?
The Great War only became World War I after World War II. So if there is another GFC, the first will become GFC I and the next will be GFC II. GFC I was predicted, in fact, but noone listened. This time, things could be different.
In any case, GFC II will be an exceptional opportunity for the left in general and non-classical economics in particular. Especially if it’s wider and deeper than GFC I. And that’s why I ask you all what should then be done?
GFC II could happen within two years. Which may not leave time for book publication. So perhaps social media will lead. That depends on us. In any case, we might prepare by discussing possibilities here, including how to make them happen when the time comes.
Maybe the tags are GFC II and 2020 Vision. What do you think?
Me: Excellent question and idea. Here’s a list of ideas and actions I’m confident would help keep us from stumbling into GFC II and WW III.
1) Recognize that the paradigm of Debt and Loan Only for the sole form and vehicle for the distribution of credit/money is probably the only socio-economic, financial, political and cultural factor that hasn’t changed in the last 5000 years.
2) Recognize that history shows us that civilizations rarely if ever remedy their disintegration and fall and those that do so on a limited basis address the disintegration via one off debt jubilees and other palliative economic reforms.
3) Recognize that leaders who are unconscious of the above and/or believe it is inevitable like Trump and Bannon may appear to be erudite but are actually conscious or unconscious merchants of chaos AND NOT SAVIORS. Integration is the answer not apathy, “fiddling while Rome burns”, delusionally believing that disintegration is the answer and that god and a coterie of intellectually unastute populist politicians will sort it all out afterward.
4) Recognize that the very process of Wisdom and its fruits of discernment and appropriate and effective action is the integration of only the truths, only the most effective workabilities, only the deepest applicabilities and only highest ethical considerations OF OPPOSING PERSPECTIVES. Wisdom/Integration is the antithesis of orthodoxy. (By the way this process and an actually new and integrative socio-economic, monetary and financial contract is what democrats need to end the disintegrativeness of Trumpism. It has to be starkly and unmistakably better and more beneficial to large constituencies of both parties otherwise it’s onward and downward.)
1) All new paradigms are in significant ways conceptually oppositional to old/current ones, thus Monetary Gifting is the new paradigm in opposition to Debt-Burden Only, and monetary, economic and financial policies aligning with the new paradigm are necessary.
2) Policy suggestions that reflect this new paradigm have already been floated before and for some time recently (debt jubilees, UBI, government deficits etc.) and more conscious perception of the natural philosophical concept of the new paradigm (gifting) and the concept behind even it (grace) will give intellectuals the fodder for more integrative ways (recognizing the digital natures of the pricing, monetary and accounting systems) to rapidly implement policies to effect the new paradigm.
3) Take the above insights and social contract policies directly to the individual with social media and a grass roots movement.
4) Broadcast the positive changes resulting from the above to other nations and their business communities and beware any covert or unconscious actions that may make war an easier possibility.
KZ: Jonathan and Craig, there are lots of books and plans out there for “remaking” the US economy. Robert Reich makes sensible and doable proposals. Political economist Gar Alperovitz, co-founder of the Democracy Collaborative makes detailed suggestions. Another source is the Institute for New Economic Thinking. The same for PopularResistence.org. All these have the same problems, however. As things stand today, they will never be considered by any American political party, even by Bernie Sanders. Mainstream economists reject these notions. The reasons for rejection? All these proposals reject industrial and financial capitalism in favor of “economic democracy.” Economic decisions would follow the same path as other democratic decisions we make. Or, as activists put it, the economy becomes as it ought to be, “our” economy. This is certainly disruptive and clearly is socialist. As I see it, it’s the only “remaking” that can save both American democracy and the American economy. There are, however sizable segments of the American population not interested in saving either.
Me: Direct and Reciprocal Monetary Distributism is the necessary integration of the sane aspects of capitalism and socialism and a grass roots movement utilizing viral cyber means to communicate its obvious benefits directly to the large constituencies of debt ridden students and recent grads, the dwindling but still enormous middle class and the equally large small to medium sized business community is the fastest route to paradigm change.