The World is not fully integrated. Not Man, not Science, not any of Man’s systems or bodies of thought…except for the most basic and most powerful experiences pointed at by the world’s major Wisdom traditions. Understanding those experiences and integrating them thoroughly into our minds, our mindsets for dealing with the world and into each of our systems is the necessity that confronts Mankind which is hurtling toward destruction without such integration and yet has a bountiful and wondrous future if it does.
You have to set up a system that is actually different from what we have…and solves the actual and deepest problem of the current system (the rate of flow of total costs/prices always tends to exceed the rate of flow of total individual incomes AVAILABLE to purchase something)….otherwise you’re just setting up another basically unworkable system owned and controlled by a self interested elite.
Interest is a cost, but it is far from the only cost, and the time lag that Keynesian economics does not and cannot bridge in order to bring a continuous equilibrium between prices and incomes to liquidate them will not
be bridged. That requires a supplement.
The Russians and Chinese setting up their own system that ALSO has inflation cooked into its utter inherent workings….isn’t going to actually solve their situations let alone free the individual and the system. Gold? It’s never worked before and it ain’t gonna work again. Get real. Economic and monetary thinking has been behind the curve for a long time. It needs to come into present time where there is fantastic productive capabilities and even if you don’t want to buy the social credit insight of an inherent inadequacy of individual incomes and hence of aggregate demand….a laundry list of external factors are increasingly resulting in exactly the same.
The only way to resolve the situation without adding an additional cost to the system is to GIVE THE INDIVIDUAL THE SUPPLEMENT TO THEIR INCOMES (OR LACK THEREOF) THAT CONTINUOUSLY EQUATES TOTAL SPENDABLE INDIVIDUAL INCOMES WITH TOTAL CONSUMER PRICES….and enables a free flowing system in fact instead of only theory. AND AS AN AFTER THOUGHT TO NEARLY ALL ECONOMISTS, OR SO IT SEEMS, that serves the individual INSTEAD OF HE/SHE HAVING TO SERVE THE SYSTEM???????????????
The alternative no one is considering is Social Credit which supplements individual incomes so debts never attain unrepayable status because there is always sufficient individual incomes to liquidate production as it comes to the market…..no matter how little or how much consumption takes place. Public Banking fits within a social credit economy as an effective means of keeping private Banking’s feet to the fire efficiency wise, infrastructure wise and even to fund governments on all levels so long as that does’t mean building bridges to no where or idiotically re-distributive taxation which is redundant as a result of more efficient and effective dividend and discount mechanisms implemented.
The world is unfortunately blind and ignorant of the underlying problems and their actual solutions and Finance is there to exploit that fact and history as well. If Russia would implement Social Credit they would become even more of a target of Finance and be railed against as reverting to communism even though socializing THE PURPOSE of the money system is the only thing that will enable profit making economic systems to survive and evolve. Ironies abound when an idea whose time has come is thwarted for over 90 years if not for the last couple of centuries.
The best thing that could happen is for there to be a financial evolution of the money system in the West which would enable it to be more stable, more in equilibrium, more efficiently productive, more decentralized, more able to re-industrialize without having to worry about the effect of technological unemployment and more individually and systemically free than systems dominated by Finance. A kind of second coming of the fall of the Iron Curtain….except its the Iron Curtain of Finance that falls in the West….and then Europe, Russia and China will have to internally adapt their own money systems….or be saddled with the inherent negative effects that attend them.
“As a man thinketh, so is he.” This reality underlies all other problems one
confronts personal or systemic. The world suffers from dominance by the consideration of power. This is not to denigrate thinking about power in any way, simply the recognition that the above statement is a fact. It does however require a balancing consideration which is actually even more powerful and underlying than power, and that consideration is love in action which is another way of describing the concept and experience of Grace. This is not religious but spiritual/experiential, this is not opposition but integration, this is neither a “realistic” nor unrealistic analysis but complete, this is neither merely theory nor an enforced totalitarian regime but an indication of policies which align with and effect freedom for both the individuals and the systems they are applied to.
Ellen Brown: Reform is passe. It never worked before and its time, such as it was, has come and gone. Transformation first! Rational and ethical regulation…right along with it. There are a thousand steps between 0 and 1 and half of those are probably steps backward. The plodding, step by step, iconoclastic, scientistically hobbled mindset and methodology of a Steve Keen is what makes him slowly come into agreement with what C. H. Douglas priorly discovered, taking the empirical data of cost accounting and then COMBINING that scientific data with a philosophy…almost INSTANTANEOUSLY recognized and recommended the policies to rectify and resolve the deepest problem of our economic and monetary systems. Douglas beat Keen to the integration of money, banks and debt as well as the inherent disequilibrium of the economy….by 90+ years…BECAUSE he integrated science and philosophy. Integration with philosophy/Wisdom/creative imagination/one or more of the aspects of the highest state of being a human can NATURALLY, NOT NECESSARILY RELIGIOUSLY achieve, namely a state of Grace…in fact is the signature of GOOD science and scientific BREAKTHROUGH. We need to have more Faith/Confidence in that oft historically documented fact! Ironies abound in times of paradigm change. It is incredibly ironic that in an allegedly confident scientific age Keen must plod excruciatingly slowly toward what Douglas had already discovered and QUICKLY concluded…and then Douglas was wise enough and confident enough to craft policies that philosophically and psychologically perfectly aligned with an ethical relationship between man and the economic system and that effected the balance, equilibrium and free flowingness the economy so lacked…as well!
When science and reform become orthodoxies they inhibit much more than they enable. That is the greater reality that is missed. Integration, the process of Wisdom itself, is what is required…and Wisdom is the willingness and ability to see truth and act on it expeditiously to resolve problems….before it’s too late.
And even if one does not want to confront any of the above the following video shows that innovation and artificial intelligence is speedily bringing about an economic absurdity where aggregate demand will not be able to be earned and hence must simply and graciously be provided. Then we can concentrate on garnering the Wisdom that makes Life rewarding…no matter what one’s circumstances.
And no one, especially myself, is unaware of the political process that is necessary. I have called for a mass social movement numerous times here. I have called for unity between the various movements. I have suggested communicating to both businessmen and consumers the commonsensical reality true for all economic “good times” …money available to be spent, so as to de-hypnotize both groups from the loan only paradigm that currently keeps the rule of finance in effect and demands monetary inflation. I ain’t wet behind the ears, not by a damn sight. But lets enlighten and resolve the problem with something adequate to the task like the integration that is Wisdom…not some paltry idea like mere reform using a self defeating means like partisan politics.
Social Credit/Wisdomics/Gracenomics/ Gracientialism 