It’s all well and good to realize that a reduction in the rate of debt will result in a recession or worse, but the greater concern must be the policies and economic and monetary philosophy. “A modern debt jubilee” is a good one off action, but not an adequate or ongoing systemic/macroeconomic policy. Monetarily such policies (a citizen’s dividend for instance) will need to be direct to the individual and hence systemically/macro-economically costless. Policy makers will also need to understand that within all of the continuous actions and overlapping of transactions in a complex economy there are still cycles of actions and moments of terminal ending and transformation where policy must be placed so as to make such policies truly macro-economically potent and effective. The primary place and time for this is at retail sale which is both where all costs for every item or service is terminally summed and ended. Thus a general discount to consumer prices at that point (and that after the sale is reciprocally rebated back to participating merchants by a national monetary authority) will have the effect of reducing total systemic costs without injury to any economic agent. It is long past due that we end the domination of individuals and of every other business model by the business model of Finance by integrating monetary Gifting into the Debt based system. wisdomicsblog.com