John,
I have always respected your service, and I recognize the value of the cardinal virtue of prudence/balance, but I have a question for you.
What could possibly be any negative effect of a roaringly profitable economy….and price deflation at the same time?
Equilibrium is just another orthodoxy to brushed past if we would instead simply invert the negative metric of individual income scarcity and cost inflation by making it abundant individual income and price deflation! Again, this is what I refer to as “The higher disequilibrium.”
This would even satisfy the Austrians (if you could get them to drop their rigid ideology for a second and actually come into present time and look, poor hypnotized things) who are always carping that we need deflation. (even though it inflicts incredible stress and strain on both businesses and individuals who already suffer from monetary scarcity)
Douglas thought that the money system would evolve toward a ticketing system for the distribution of production. I think that this would be thwarted by the Banks/Banking system unless we are pro-active in pushing it in the freeing direction. I don’t see any downside to an abundant dividend and a price deflationary discount. Lets get ahead of the curve of change, god knows we’ve been losing ground for way too long.
Did you ever consider that perhaps caution has lost its effectiveness in a world staring at austerity, frustration and rhyming war in an era of modern weaponry? Love or hate Donald Trump, maybe he’s shown us that the better strategy for over coming your foes is to tell them to shut up! Or perhaps to shut up followed by policies and a philosophy that gives people hope, faith as in confidence, a beautiful vision of the future (beauty is a very close harmonic of Love) and Grace as in Gifting. these are all positive experiences that resonate with every human being, and giving expression to them makes them more real to people…especially in times of crisis. Let us then express them for chrissake!