In each present moment of the economy there are much more present total costs than there are total individual incomes present and actually available, even under ideal conditions, to liquidate those costs. This is the unperceived moment to moment reality of modern economies. This condition is inherent in all modern economies, but most real in capital intensive ones as the additional costs due to depreciation of their capital assets is much higher than those of less modern economies. Also the costs of obsolescence, waste and inevitable fraud are synergistic factors in high tech economies due to the swifter pace of technological change, the mistaken notion that more production will resolve the problem despite the fact of the cost inflationary inherentcy of the system and because wealth, power and the desire not to lose it is a strong incentive to “fudge, hide and/or dominate with the numbers” as recent control fraud conspiracies and the knuckling under of governments to finance in 2008 and beyond have shown.
The three things Keynes didn’t get right were additional costs, time, the absolute continuousness of time in the temporal/time universe, i.e. process and finally the necessity of directness, immediacy and process/continuuousness as solutions to all four of these. Social Credit deals with these factors.
However, the two things Social Crediters do not completely get is the necessity of abundance regarding their dual policy mechanisms and an occasional failure to completely comprehend Douglas’s charge of inherent disequilibrium and thus they fall back into belief in general equilibrium. This I believe comes from missing the fact of the additional costs demanded by the second law of thermo-dynamics which correctly states that energy is continually randomizing. In other words it is not just the additional costs of capital depreciation etc. and the flaw in cost accounting conventions that holds those costs in effect….it’s also the fact that the entire cosmos is depreciating….and the only way to effectively compensate for this is to not just equate economic costs….but temporal universe/cosmic costs as well. And the only way to do that is reverse the entire vector of the economy and the problematic dominance of finance by….reversing the present scarcity disequilibrium ratio of incomes to costs, itself. In other words we must create a new “higher disequilibrium” where total individual incomes will continually exceed total costs.
This is learning the lesson of Keynes’ failure. His prescriptions were a betterment but missed the above factors that Social Credit identifies, and so brought some additional stability for a time until neo-liberal economics morphed Keynesianism into itself. So Social Credit is a much better economic betterment than Keynesianism could ever be, but still lacks the cosmic/temporal universe/thermo-dynamic costing factor.
That is what Wisdomics attempts to do via a truly abundant dividend and equally abundant discount percentage which reverses the vector of the cost inflationary cosmos entirely toward abundance instead of scarcity in ratio to costs and through time. It is a further and more complete integration of economic theory with the scientific facts of the temporal/physical universe as well as a further integration of the concept of Grace into same.