MC: It is very clear above that what Keen is doing is NOT what Shiozawa is doing. The title of Shiozawa’s book is refuted by Keen: “Microfoundations of Evolutionary Economics.” Shiozawa is arguing he has found the microfoundations for evolutionary economics. Clearly, keen is arguing above is a different animal alltogether: “The fallacy in the belief that higher-level phenomena (like macroeconomics) have to be, or even could be, derived from lower-level phenomena (like microeconomics) … (Keen)”
Me: An excellent post on the dynamic, interactive, integrative and emergent qualities of the natural philosophical concept of grace. That concept is also the humanly perceptible state of the temporal universe. All one need do is walk around and touch a few walls and ACTUALLY look at objects and their individual characteristics and all of a sudden…satori! Space and objects are an experience not an abstraction and even more enlightening YOU are much more real than just a chattering voice inside your head. It’s the direct integration and experience of the seeming opposite ends of the evolutionary reality except there’s no top or bottom, real or unreal just a unitary flowing natural and cosmic isness.
Do we want an economy that flows freely and is dynamic, interactive, integrative and natural? Well then, model it after the ACTUAL temporal universe reality of grace by taking two of humanity’s greatest tools, money and double entry bookkeeping and creating abundance, including the self reflective balancing proclivities of wisdom and ethics to consciously guide the necessary randomness which is part and parcel of the natural state of temporal reality.
Ah, may we have the serenity of the present moment in the economy….as quickly as possible. 🙂
MC: It is very clear above that what Keen is doing is NOT what Shiozawa is doing. The title of Shiozawa’s book is refuted by Keen: “Microfoundations of Evolutionary Economics.” Shiozawa is arguing he has found the microfoundations for evolutionary economics. Clearly, Keen is arguing above is a different animal altogether: “The fallacy in the belief that higher-level phenomena (like macroeconomics) have to be, or even could be, derived from lower-level phenomena (like microeconomics) … (Keen)”
Me: The problem is neither Keen nor Shiozawa, nor any other economist for that matter have cognited on the one chink in the paradigmatic armor of Finance. That chink is the fact that money and its creation are most basically accounting and thus must follow its conventions like equal debits and credits must sum to zero. Hence the efficacy of an equal debit and credit monetary and price policy at the point of retail sale. For the umpteenth time that single policy is paradigm changing. Just look at it and its immediate and continuous effects.
Most people probably consider accounting mere bean counting, but it and its conventions are actually a powerful underlying infrastructure of the entire economy. Keen, who IS brilliant, has come to understand some of the importance of accounting and even remarks to that effect. I know I’ve listened to every one of his youtube and patreon videos for the last 10+ years, and yet missing the strategic power of the point of retail sale, also misses the problem and paradigm resolving potentials of the equal debit-credit-accounting convention policy at that point.
Another way of looking at it is there is macro-economics, economic micro-foundations and the even deeper and more underlying facts and effects of accounting.
It’s kind of like Newtonian physics, quantum mechanics and the present search for a new physics (like string theory or a way to explain why the cosmos apparently lacks sufficient mass and is accelerating and thus there must be dark energy/dark matter causing it).