MMT and Keen’s Minsky Financial Instability/Disequilibrium Theories

MMT is correct about the mechanics of money and the fact that governments who create their own currency are not budget constrained like households are, and so is a smallish intellectual step in the direction of abundance and the new paradigm of monetary Gifting. However, it still has the stench of Marxian orthodoxy regarding employment, via a rigid policy of a job guarantee and its active rejection of the concept of a universal dividend.  It also is still afflicted by old paradigm thinking regarding the need for indirect financing via re-distributive taxation instead of direct distribution for financing government. It also is apparently unconscious of Finance’s monopoly paradigms of Debt and Loan ONLY which is surprising because of Marx’s correct indication that Finance capitalism/Imperialism was the problem. These orthodox hang overs are simply indications of how embedded old paradigm thinking is and how difficult the process is of integrating truths in apparently opposing theories.

Steve Keen’s Minsky Financial Instability/Disequilibrium theories are also incomplete and only partially aware of the new paradigm of monetary Grace as in Gifting, and both MMT and Keen’s theories lack a new and thorough integration with micro-foundations which is consistent with the concept of grace, one of the aspects of which is integrated bothness-duality itself.

In order to completely perceive and understand a new paradigm one needs to step thoroughly “through the looking glass” and dwell in that new paradigm, otherwise its realities are not actualized, dissonance and/or old paradigm thinking remains and the thirdness-oneness of true integration escapes one.


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