How can rational expectations be the basis for theory when man is increasingly less aware….of himself? After all, his awareness is what controls or does not control his mind. How can any theory not begin with deciphering what would free the individual first? If economists would begin there and consciously craft policies instead of operating out of ideologies, agendas, quasi-religious beliefs in equilibrium or disequilibrium, obsession with abstractions and neglect of consideration for the individual….maybe economics and economic theory would ring with much more clarity. Provide for the individual. Free him/her economically….the rest of profit, production, control etc. would largely fall in line and regulation of the anti-social, terminally insecure and otherwise damaged…would probably be much easier than trying to grapple with an unethically unstable system where obsession with power, profit and control is rife, is thus required to survive, and, in utterly orthodox terms considered “inevitable.” We need a Wisdomics, a Gracenomics. Contemplate grace, not as some idiot pre-scientific dogma, but as a concept and NATURAL psychological experience. It being the pinnacle experience of Wisdom, and referenced by other names in all four of the world’s major wisdom traditions, it is then integratively the best possible guide for both individual development and human systemic policy. Start at the starting point…philosophy. And then align policy with a philosophy that is adequate and integrates both our abundant productive capabilities and our most freeing potentialities. Or remain a big talking reformist pedant who suggests monetary grace in the form of a modern debt jubilee but can’t actually get but one lobe of his brain outside of the paradigms of Debt ONLY, Loans ONLY, for production ONLY and via the system first ONLY…and so never actually ever understands or makes the transition to a new paradigm.
Why do philosophy professors asks these questions:
” How can any theory not begin with deciphering what would free the individual first?”
Who says that “freeing” an individual is even a noble goal. It very well may not be.
People very well may not follow philosophy, Theology, natural law, reason or any other academic ideal. While I totally agree that modern economics has become a misguided religion, relying on invisible hands to balance it’s mathematical and theoretical holes. There is no reason to argue that everyone must be solely on Plato’s ideal plane! Pragmatism has it’s place.
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The answer is that Wisdom, actual Wisdom not some popular counterfeit of it or some mere philosophical conjecturing that omits an ethical component to life, is the best guide for BOTH individual development AND systemic policy. Which makes it BY NATURE BOTH lofty AND pragmatic. And hence it can only be relevant and applicable. Why? Because Wisdom is the integrative process itself and hence can combine/integrate even seemingly opposing concepts…and come up with a third and greater wholeness.
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