…actually transcends accounting itself! By transcend that means gets beyond the problems its conventions enforce, not eliminates its usefulness. Accounting/double entry bookkeeping enforces the paradigms of Cost and Debt in a cost inflationary and individual income deflationary system, and the new paradigm of Monetary Gifting interpenetrates, encompasses and brings abundance and free flowingness to an economy dominated by cost inflation and Debt.
[ (Debit x Credit) <–> Abundant Gifting ] = Monetary and economic free flowingness
So long as the economy is free flowing and prices are always going down in ratio to available individual incomes…who cares how much people save and enterprise profits? With the current money and economic systems of course it matters…because virtually the only way to increase individual incomes and maintain systemic profitability…is to borrow more money therefore inevitably resulting in the build up of Debt and its costs. This is why the paradox of thrift….is paradoxical, because savings and retained earnings take money/income out of the circular flow of the economy….and the costing system of commerce itself also reduces that circular flow…and the policies of a universal dividend and rebated discount to retail product enables the transcendence of this inevitably cost inflationary/individual income deflationary systemic condition.