Keen came close to what I’ve been telling him for a couple of years in the video right before this one on his youtube channel. He said: “…it’s the ratio between debt and individual incomes” that is significant. Actually and macro-economically (that’s what Keen is, a macro-economist) its the ratio between total costs/prices, and total individual incomes that enlightens. Modern economies INHERENTLY create a higher rate of flow of total costs than they simultaneously distribute in individual incomes with which to liquidate those costs/prices. And as the cost accounting convention that ALL costs must go into price is always (and correctly) enforced that means the system is cost inflationary by nature. So the only way to equilibrate that ratio is to implement policies that costlessly increase individual incomes and costlessly lower prices. And the only way in a monetary economy that you can do that is to integrate monetary grace as in Gifting directly to the individual and also directly to enterprise. And that is why a universal dividend and a rebated back to merchants retail discount to consumers are the pinpointing solutions to our current economic stagnation. wisdomicsblog.com
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You should concentrate on forming/backing a grass roots level movement for economic and monetary policy change. It’s a complete waste of time and effort to try to convince other economists of their outnesses when they have very strong ego involvement in maintaining their present thinking. Likewise politicians are famous for both lack of creativity and the character trait of courage so they are poor candidates to look to for alliances. TV programs? As we see here they are firmly stuck in the obsessive contention mindset so they are not productive of change either. Look to Ghandi and MLK, Jr., they had the right idea and the right actions. The Powell Memo is also prescient, and the ideas in the New Powell Memo are monetary Grace as in Gifting, directness as in simultaneity and immediacy of policy effect, free as in costlessness and individual monetary abundance and
freedom as opposed to the niggardly austerity that afflicts “thinkers” in nearly every field.