Calibration in current economic models orthodox and heterodox require a new philosophy in order to transcend….calibration itself. It’s not that calibration is inappropriate it’s just that in order to find the holy grail of economic theory, equilibrium, one has to enable its attainment first with policies based on a philosophy that looks directly at the real problematic forces and institutions in the economy and deals with them wisely. Crunching numbers is fine. Crunching numbers without first/also considering wisdom handed down to us from millenia past applied to economic theory is an invitation to stumble around in the darkness of incremental reform, or as we have seen since Keynes, theoretical regression. Numerous economists have called for a new economic philosophy….and then went right back to crunching the numbers. If we would instead first/also contemplate wisdom and its pinnacle philosophical concept grace we’d realize that policies thoroughgoingly based on this concept…are the very remedies all of the calibrations are seeking. We’d also see that in order to have a free and free flowing economy….you’d have to enable freedom and free flowingness first. Economists are on to this as they have recently begun to consider things like “a modern debt jubilee” and “basic income guarantee” both of which are reflective of aspects of the very concept upon which Social Credit/Wisdomics-Gracenomics is based, but they require further examination and relevant application to economics, as well as an additional policy that recognizes true equilibrium in economics is a dynamic ratio, and finally the realization that the philosophical concept of trinity-unity-oneness-process applied to economic policy is the best/wisest way to keep that dynamic ratio from degenerating into an ossified orthodoxy and regressing as we’ve seen happen to economic theory since Keynes made an incremental/incomplete philosophical step in the right direction.
Find and contemplate the concept that is all about freedom and ascension both mentally and temporally, as well as individual and systemic economic abundance, balance, equilibrium, free flowingness and process (all of which are classical and relevant economic concepts) and then apply policies aligned with them…..and economically and theoretically you’ll be home.