zth: Gift economies are interesting, but are they scaleable? What tools and institutions are required? I’d like to see some experimentation with different options, so that would be cool. Have you read David Graeber? His book on Debt is a must read and I think relevant to this conversation.
Me: Yes, Graeber’s book is an important one because it pinpoints the problematic business model of Finance. Isn’t 5000 years long enough to be dominated and manipulated by their product and paradigm of Debt? Gifting IS scalable. As Keen correctly points out it IS a monetary economy. However, he and other economists have not cognited on the that fact in combination with the fact that both the money and costing/pricing system are digital. That is $100 of money cancels $100 of debt or $100 of costs or prices. This is why “a modern debt jubilee” is just an important first step toward resolving the deepest problem of modern economies which is that they continually create more costs/prices than they simultaneously create individual incomes with which to liquidate/cancel said costs/prices. This means that in order for the economy not to forthrightly spiral down into a deflationary depression the policies of monetary Gifting directly to the individual in the form of a relatively abundant monthly dividend and reciprocally to the consumer as a relatively abundant percentage price discount and then back to the enterprise as a rebate of same….are the way to stabilize the macro-economy. You heard that first here by me, not Keen. My theory Wisdomics-Gracenomics is an integration of micro and macro-economics, an integration of abstract thinking/math/calculus and the mental mode of thought known as Wisdom which is an integration of both direct inward and outward observation of realities.