Carl,

As one of the aspects of the philosophical concept of Grace is abundance and your proposal is abundant it reflects and aligns with my thinking, and would fit well into the following essay/article…perhaps if the $1 million per household was empirically proven strong enough it could be utilized as a trust from which a middle class level dividend could be drawn on yearly and continuously.

Grace as in abundance is the conscious philosophical concept that runs through, and needs to be more consciously integrated and consolidated within the various economic and monetary reform movements. For instance:

What is “a modern debt jubilee”? (Steve Keen)

It’s Grace as in forgiveness of Debt.

What is Banking in the public interest?  (Ellen Brown)

It is the  financial structural equivalent of the omni-presence of God/Self Awareness/Consciousness/psychological state of Grace/Flow. It is the financial systemic expression of Jon Kabat-Zinn’s Book title Wherever You Go, There You Are when describing consciousness. Also, as the psychological state of Grace/Flow is the complete integration of Space, Time and Self Awareness, so the keystone business model of Banking/Finance that was truly in the individual’s interests is the integration of a caring, supportive and gracious attitude toward the individual and individual commercial interests as opposed to the dominating and manipulative force it has become.

What is Sovereign Control of the Money System?  (Positive Money and MMT)

It is recognition that hierarchy is necessary with forces as powerful as money, and if they are aware enough, that such hierarchy is, of necessity, a sovereignty that is utterly ethical, undoubtedly in ethical control, unbiased, objective and completely democratic in its graciously gifting distributions to the individual and commercial interests and so is a true Sovereign Grace as in the old expression “Your Sovereign Grace”.

What is true freedom for the individual and graceful and continuous free flowingness for the economic system that is also aligned with our awareness of the Laws of Thermo-dynamics?      (Wisdomics/Gracenomics)

In a money and debt based system, secure, continuous and satisfactorily adequate purchasing power is freedom. A universal dividend to every adult 18 years of age and older that itself approaches a middle class level of income is the gracious as in gifting expression of that freedom for the individual.

In a modern technologically advanced capital intensive profit making economic system that is in an inherently disequilibrated state due to the ever increasing costs of depreciation of that ever increasing capital, and that is also now faced with rapid erosion of aggregate individual purchasing power due to innovation and artificial intelligence, a means of eliminating that inherent cost inflation so as to enable not just a momentary equilibrium, but a continuous and free flowing one….is necessary.

As a true equilibrium and/or flow is thermo-dynamically impossible in the temporal world we live in without an outside force and/or policy to enable and maintain it, and as a momentary enablement is not a flow and certainly also isn’t the maintenance of one, a policy of cost reduction at the end of the economic process at retail sale where all costs for any item or service is terminally summed and hence afterward no economic agent can be harmed because production has become consumption…..must be implemented.

Furthermore, in order for the system to be continuously free flowing despite the laws of thermo-dynamics, a significantly price deflationary reduction in retail price must be the case….and this is accomplished by reciprocal Grace as in Gifting by the merchant to the consumer…and then by the monetary authority back to the merchant for all of his discounts so that he can be whole on his margins of profit and overhead payments.

These policies are the concept of Grace expressed in the organic affairs of the economic and monetary systems, and the integrated completion of the expressions of the other aspects of Grace shown in the other reform movements above.

Even though haltingly and still largely unconsciously the philosophical concept of Grace, in everyone of its relevant aspects, is the new
Copernican evolutionary paradigm that a fragmented economics requires for its transition from the mindsets of austerity and scarcity to freedom, free flowingness and abundance.

wisdomicsblog.com

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Carl,

I think your assessment of the idle cash “sitting out there” is undoubtedly accurate if not still somewhat understated because we really don’t have accurate stats on tax haven amounts and other hidden financial assets. Having said that (and I’m sure you are aware of this) knowing what is out there, determining how much of it is actually ill gotten and then actually recovering it is an uncertain and probably a longish process. In no way is that a discouragement to doing so especially with worthlessly pooled assets like the CAFR’s and other of such assets. What I am suggesting we do in the interim is try to recover the low hanging fruit and simultaneously push the Distributive money paradigm in order to break up the debt and loan ONLY paradigm enforced by the private Banks.

One thing I do want to say is that the idea that we will not have price inflation so long as money does not exceed production is, I’m sorry, liberal false orthodoxy. The myriad businesses out there that see a large and/or steady increase in individual demand coming WILL inflate their prices and keep on doing so until an erosion of one degree or another results….because who and what is there to stop them from doing so???? And the regressive elements and old paradigm austerity mentality will howl long and loud about it and try to reverse the changes that are necessary for individual economic freedom and systemic free flowingness. So why leave that inevitability open is what I am saying, because indeed the only way to prevent such a thing from happening is the oft forgotten second Social Credit/Wisdomics/Gracenomics macro-economic policy of a rebated back to merchants, deflationary discount to consumers at retail sale. Please consider this.