Posted To RWER 11/22/2016

General equilibrium has obviously been dead since 2008. While Stiglitz and virtually every other heterodox economist has recognized this they still ignore the keystone structural problem, the glaringly contradictory monopolistic dominance of the business model of finance, their virtual monopoly on credit creation and their complete monopoly on the monetary paradigm, that is, debt and loan only. No this is not to suggest the end of interest or the destruction of finance or any other reactionary nonsense. It is the suggestion that we create a legitimately opposing monetary paradigm of gifting thus creating a real duality that is actually able to be consciously and intelligently integrated into profit making systems so that a third and unified economic theory can arise out of it.


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