Shout Out To Steve Keen

Saying that macro-economically the system requires continual borrowing to prevent recession/depression and that the systemic costs of the resultant continual borrowing is the problem (Keen), is exactly the same as saying the system is inherently cost inflationary (C. H. Douglas) and that policies must counter that fact. So Keen has unconsciously rediscovered Douglas’s insight from almost 100 years ago. I’ve told Keen numerous times over the last several years that I thought his de-bunking of neo-liberal DSGE economics was worthy of a Nobel prize, and I stand by that, but if it is somewhat ego deflationary that someone discerned and declared the same thing before him…that is beside the point. Perhaps Keen could accept the Nobel and graciously cite Douglas’s  Social Credit and myself as the integratively philosophical and temporal policy extender of Douglas’s thinking with Wisdomics-Gracenomics.

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