You have to make markets work. They used to mostly work back before fixed capital appreciation costs got so high due to technology, and technology’s efficiencies wed to profit making systems also reduced individual incomes. And now AI is going to reduce the latter much, much faster so that almost no businesses will be able to survive due to the erosion of effective demand. Social Credit, not socialism and not capitalism, but an integration of the best aspects and intentions of both is the only way to have a dynamically stable equilibrium.

Brexit and Trump’s election were both healthy expressions of the desire for freedom and prosperity (although the tone and mindset of many of those who voted for both were the antithesis of healthy and/or gracious points of view).

So do we insist that markets still clear even after 80+ years of them not doing so and the costs of debt and all of the development we see growing up all around us continually increasing?

Or do we come off our high horses and hobby horse orthodoxies and do the wise and survival thing?