Yes, the inductive and deductive perspectives are two different methodologies…but their integration is also the signature of scientific and cultural breakthrough. Science is a mindset. Wisdom is the integrative process itself. Thus the integration of Science and Wisdom is very likely the route and the method we should be utilizing in economic research.

Economic theory’s biggest problem is its own mereness. Thus, in order for it to progress it must be integrated with another body of thought. Seeings how it has resisted such integration for such a long time and in view of the dangerous rhyming course of history making such integration very urgent, I suggest it be integrated with one of the peak experiences of one or more of the World’s Wisdom traditions. Why? Not in any way to attempt to establish some religious order, but rather to align its (economics’) thinking with policies that reflect both the Wisdom tradition’s peak experiences….and its own stated goals of balance, equilibrium, freedom and free flowingness. Any of the three peak experiences of Satori, Atman or Grace will fit that reflectivity bill quite nicely.

Again, the world is fragmented, increasingly in conflict with its neighbors and also with itself. It urgently needs economic policies that reflect and will effect balance, equilibrium, free flowingness and more freedom. And if I may further suggest the freedom reflective idea and policy of the free gift which indeed would bring not only equilibrium and free flowingness to an economy overwhelmed by debt, but also balance the unnaturally unbalanced and dominating paradigm of debt only which currently is enforced in consumer finance.

Urgency and the need to have balanced, stable and yet rapid change. Wisdom, the integrative process itself and also the product thereof…is precisely what economic theory and policy need.