The end of necessary borrowing in order to stave off but not actually prevent recession/depression is accomplished by the dual abundant policies of Wisdomics-Gracenomics. Over time they will also enable the “withering away” of the 5000 year old problematic business model of Finance by continually smalling up its market for new borrowing.
Finance will continue but eventually only as a service business and intermediary which for so many years it has pretended to be and economists have deludedly considered it to be. Marx and libertarians, out of a disdain for government, have thought that the state would “wither away”, but their insight was not deep enough.
The monopolistic financial paradigms of Debt, Loan and For Production Only are the deepest economic and social problems, and the new primary paradigms of Direct and Reciprocal Monetary Gifting will replace them as the means and vehicle of monetary distribution.
And it won’t matter if every household is able to maintain a satisfactorily middle class lifestyle, rapidly pay for their means of transportation, their housing needs and desires and save $50-100,000 over a period of 10-15 years….there cannot be any price or asset inflation with the high percentage “retail product” discount which integrates price deflation into profit making systems. It will be a true money/primarily Gifting economy.
Mind you, into the foreseeable future there will always be a need for new money creation by new start ups and by individuals who have sufficient incomes and desires to consume so I’m not saying Gifting will just become a new monopolistic monetary paradigm. There will be an integration of the two paradigms with Gifting simply becoming the new primary one.
Yes, we will need to remain diligent about insuring enterprises remain competitive, innovative and ethically honest in their accounting, and also conscientiously regulate and align policy with the new paradigm. There is no end to history, and we’ll even have to keep our eyes open to the emergence of other new problems and over time even additional new paradigms…or what I think will be the next step, new systemic and philosophical areas of application of the the concept behind the new paradigm.
Grace is everything and its integrative resolution. Eventually that will become the fully conscious reality in all areas of Life, and the manifestations of its many, many aspects will become more real and conscious in that process.