The solution is recognizing that policies effecting individual and commercial monetary freedom and a free flowing general DISEQUILIBRIUM…are the only way out of all of the conundrums and paradoxes currently afflicting economic theory. wisdomicsblog.com
Scientists and even philosophers will puzzle over all of fragmentation and contradiction in economic theory until they discover the natural concept whose most basic aspect is a thorough integration of bothness/duality itself. Then, if they’re careful and they use the mental discipline of Wisdom even more than the beautiful, important and almost as complete disciplines mentioned above, they will be able to perceive the way out of the current morass, implement policies aligned with that natural concept and so bring us to a third, new and more unified understanding.
AZ: What is amazing, mind-boggling, flabbergasting — and many other purple adjectives — WHY does this NEED to be said, 80 years after publication of Keynes General Theory? What are the reasons for this regress in knowledge in economics?
Me: IMO it’s because Keynes only identified and prescribed policies for the structural economic problem when an entirely new philosophical concept and monetary paradigm was necessary for economists to perceive. In other words Keynes did not go deep enough. This was true when Keynes wrote the general theory and is even more pressing now not only because Keynesianism got morphed into neo-liberalism by the false ideology of general equilibrium looking to be justified, but also because the real underlying problem of an inherent, systemic scarcity of demand in ratio to costs/prices has inexorably trammeled on for almost 80 years while the monopolistic financial paradigms of Debt, Loan and For Production Only have also not been countered and broken up by the new and necessary paradigm of direct and reciprocal monetary Gifting.
Steve Hummel 04/09/2017