Many times here I have mentioned how I admire Michael Hudson’s moral fortitude and financial insights. I remain an admirer. The same with Steve Keen whose iconoclasm I also greatly admire especially in view of the mountain of false theory and suave propaganda that justifies it. The truths they have uncovered are real, but all theories rise on what they discover and fall on what they miss, and neither has recognized that THE FLOW OF ADDITIONAL COSTS of the economic system, of which interest and financialization are a large part, are the factor they have missed. As Steve Keen has said in one of his most recent youtube videos: “the tendency of capitalism is up.” And he’s right, its just that he’s not completely right because he’s looking at ONLY the upward effects of monetary inflation/financialization and yet missing the subtle and underlying dynamically upward effects of cost inflation enforced by a rule that says all costs must go into price even though SYSTEMIC costs and so prices as a flow exceed the creation of SYSTEMIC individual incomes with which to liquidate those costs. And then they must recognize that the only valid economic solution to such an INHERENT systemic problem is monetary grace/a free gift of income that like a neutrino bypasses/COSTLESSLY passes through the problematic system and so BOTH frees/empowers the individual and enables the system to then flow.
The true scientist is willing to look at all relevant factors, confront their ACTUAL effects and integrate that knowledge, that truth, into their theories. Integrate truth, integrate truth, integrate truth(s) that must be the mantra.
Wisdom is an integrated Duality which results in an expansion/ascension of knowledge which is simultaneously a third Trinitarian reality and Unity of all factors.
[ (Mon.Inflation X Cost Inflation) X Mon. Grace/Gifting ] = Individual Freedom & Systemic Flow
X = an actual integration of truth(s)
( 1 X 1 ) = an integrated Duality
[ ( 1 X 1 ) X 1 ] = Integrative Trinitarian Unity/the whole truth