Posted To Steve Keen’s YouTube Channel 04/09/2017

You are quite right Dr. Keen the present overriding economic viewpoint does actually (and incorrectly) posit perfect control, equilibrium and an ethic of power. And that is why the economic and monetary systems require an ethic of Wisdom (not provincial religion) and reflectively its highest concept grace as in monetary Gifting to stabilize them, not to mention make them humane and ethical for all business models and the general population.

You’re right again Dr. Keen, in the temporal universe there is no general equilibrium except for a moment, and in the next moment it’s changed so it’s actually a general disequilibrium. Add to this insight the fact that in modern economies the rate of flow of total costs (and because all costs by cost accounting convention must go into prices the rate of flow of total prices) always exceeds the rate of flow of total individual incomes and you’ve discovered the most basic cause of the general disequilibrium. Now the answer is not to inject money into the system through enterprise as this just re-initiates the basic problem. Nor is the solution to inject a mere statistically equilibrating amount of income directly to the individual. That would be to commit the sin of equilibrium in the temporal universe that is in continual flux. No, the answer is invert the problematic ratio above and in so doing create a scientifically valid “higher disequilibrium” that sets the individual and every commercial enterprise free and enables a much more stable free flowingness to the entire system. And just as a “kicker” breaks up the dominance of everyone by Finance as their monopolistic paradigms of Debt, Loan and For Production only….are countered by a saturation of the economy with Gifting.


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