Who gives a shit about capitalism or socialism. They are both passe’. What modern technologically advanced economies must have is the dynamic profit making system of monetary Distributism. That is the integrative and hence wise and conscious conclusion to be drawn from both economic history and even a modicum of ethical awareness.

Your policy implications are kind of Social Credit lite and lack the sweeping macro-economic effects necessary to truly stabilize a modern credit based economy. Your mathematical analysis is great as usual and comes to the correct conclusions, but the fragmented, smallish nature of your policies comes from the very objective mathematical and scientific methodology you use. Coming from the opposite holistic/philosophical/wisdom tradition direction enables one to come up with the right solutions by penetrating to the level of idea/paradigm and also see the entire picture of the economy at the same time so that you can pin point the best what and where of policy necessary to implement.

Jubilee is an aspect of the concept of Grace as in forgiving, in this case debt, and in Giving as in Gifting. Why let the mere transcendental religionists hog all of the philosophical power? Economists should drop all of their reactionary modernist bias against traditionally religious concepts and tap into it themselves in the name of nature and scientific breakthrough….as such open mindedness is the hallmark of not only good science, but (unconsciously) incorporating aspects of the concept of Grace and the nature of consciousness itself into their modeling is also the signature of scientific breakthrough.

wisdomicsblog.com

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An adequate level of monetary Gifting directly to the individual greatly mitigates and eventually eliminates the supposedly problematic factor of employment/unemployment  in theoretical constructs, and coupled with a deflationary discount to retail prices that is reciprocally gifted back to the merchants that give the discount, virtually eliminates  both the supposedly problematic factor of inflation and the supposedly problematic factor of the macro-economy tending toward general disequilibrium.

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“Wages share directly negatively related to debt ratio” comes close to the Social Credit insight that “the rate of flow of total costs exceeds the rate of flow of total individual incomes” it’s just that Douglas perceived the latter/more basic cause of the problem by examining the cost accounting datums of over 100 firms and found that the above held true for all of them and thus he posited his A + B theorem. You’re rediscovering Social Credit Dr. Keen, and I’m not going to allow you to avoid crediting Douglas for having come to the same conclusions 90+ years before you.

My book Wisdomics/Gracenomics is an exegesis of the main philosophical concept underlying Social Credit, namely Grace. I have discovered that an aspect or two of same is also the basic concept of the leading edge theories/reform movements like yourself, Ellen Brown’s Public Banking and Positive Money. It is the philosophical concept I claimed was necessary on your Debt Watch site, and the basis for the new philosophy you said New Keynesians needed.

My book however goes even farther and deeper than Social Credit’s cost accounting flaw in pin pointing the actual cause of the economy’s problems by integrating the laws of thermo-dynamics into theory, and also integrates Austrian theory into the solution by showing that the discount mechanism of Social Credit must be macro-economically deflationary if it is to truly stabilize modern technologically advanced economies.

POSTED TO ELLEN BROWN’S FORUM 04/17/2016

Yes, the concept of monetary grace as in gifting is beginning to become a conscious idea in the world. And that is how a basic income guarantee must be funded…as a gift not via re-distributive taxation. And it also requires a retail discount mechanism, not because of some Social Credit dogma, but because with more money in the hands of everyone it is inevitable that businesses will inflate their prices. That, and does anyone here think that the Banks won’t try to foment inflation? Get real, of course they will. And when the basic income’s purchasing power is thus eroded where do you think they’ll point in accusation? That’s right, the basic income/dividend. It’ll be: “We told you all along that Social Credit and liberal ideas like an income guarantee were inflationary.”

The dividend/UBI and the retail discount INTERPENETRATE AND ENCOMPASS THE ENTIRE ECONOMY THROUGH TIME. They are the component parts and book end requirements for a stable economy. so lets integrate them into Public Banking as a structural and central banking concept….and finally win!