My books have spoken about UBI or what I call a universal citizen’s dividend because part of its justification is that it is actually a payment based on every citizen’s inheritance from the nation’s cultural heritage of tremendous productive capacity built up over its history. They also stress an even more important second and complementary policy I call the “universal retail product discount” which enables a thorough saturation of the entire economy with the new monetary paradigm of Gifting. It would also not only eliminate inflation, it would actually beneficially integrate price deflation into profit making systems….something that, up until I recognized this policy innovation, was considered impossible.
Here are some questions that would help better explain my theory of Wisdomics-Gracenomics:
What are the primary insights of each of the cutting edge theories of reform and how does Wisdomics-Gracenomics integrate, extend and improve upon them?
MMT Main insight is that the monetary system can be distributive
Steve Keen’s Financial Instability Thesis Main insight is that the problem lies with Finance whose product is money, also General Equilibrium Theory is fallacious and government austerity is completely ineffective and part of the problem not the solution
Public Banking Main insight is that Private Banking is the primary structural problem
QE For The People/Positive Money/UBI/BIEN Scarcity of individual income is major problem of modern economies/Private Finance’s virtual monopoly on credit creation is problematic
Social Credit Actually preceded the insights of all of the above except it still had a remainder of orthodoxy regarding equilibrium and did not have a way to saturate the entire economy with the new paradigm they had discovered
Wisdomics-Gracenomics Integrates all of the insights from above including Social Credit’s dual policies of a universal dividend and compensated retail discount and fully extends them so that their impact saturates the entirety of modern economies and actually reverses the problematic vector of same. It discovers the new paradigm and its full fleshing out of the philosophical concept behind the new paradigm brings full consciousness of it to economics and economists.
Finally it brings additional insights about the very process of Wisdom itself, (integration of the truths in opposites) and the trinity-unity-greater oneness nature of the scientific method, the logical and progressive process and of all new paradigms. It also brings new insights into the structural and mental manifestations and effects that accompany all new paradigms (fully integrated duality, inversion of a problematic ratio, inversion of position-primacy of the old and new paradigms)
Can you explain and illustrate how the ‘universal retail product discount” policy works?
The point of sale is always a summing point and temporary stopping point of total costs and total price for any item or service. The pricing system and the money system are both digital, that is, if you discount $5 on a $10 price to your consumers and then a monetary authority reciprocally rebates you back your discount to your consumers, then the consumer gets a 50% decrease to his costs and so a 100% increase in his purchasing power….and the enterprise still gets their full price of $10.
If this discount policy is implemented at every point of sale throughout and within the entire economic process and every enterprise participating in the policy passes this 50% discount along to its consumers a 50% cost and price deflation is beneficially integrated into profit making systems.
Furthermore, because the policy is only implemented at the already summing and stopping point of a sale there is no heavy handed manipulative intrusion into the price discovery of the enterprise participating in the policy…only a gracious gifting to the consumer and a reciprocally gracious rebating back of the discount to the enterprise.
Why would it be readily accepted by virtually all business models?
Because it enables an enterprise to sell their product/service at 50% less, and combined with the Universal Dividend policy it creates the ideal business climate for any business of low prices and lots of purchasing power in the many hands of the consumer meaning there is a much greater likelihood of higher volume of sales which translates into greater profits. In essence it is an offer that a profit making enterprise cannot refuse because if you don’t participate….and participate honestly in the policy, then you don’t get any rebate and have to get all $10 from your consumers who can get a competitive product to yours for only $5.
Why are other theories/theorists only partially or even totally unconscious of the discount policy and its effectiveness?
Double entry bookkeeping is probably right up there with the computer as one of the greatest innovations of human history because it is the tool by which enterprise deciphers whether or not it is profitable. Its Debit-Credit digital format is also perfectly reflective of the format and actions of the discount policy.
As Steve Keen has said economists can get their PhD in economics and not have to take so much as a basic course in accounting. Hence they tend to be almost entirely unconscious of its actions and conventions. Hence they also miss the economic significance and policy potentials of the Debit-Credit format as described in the discount policy.
And of course macro-economic and mathematical theorists are generally caught up in once, twice or thrice removed abstract considerations and so do not look directly at the moment to moment operations of commerce and so do not see the potential economic significance and benefits of policy implementation to be found there.
What are the current dominating monetary paradigms of Finance and what is the new paradigm necessary to be integrated into our economy and to become the new non-dominating primary one?
The current paradigms are Enforced Indirectness and Debt, Loan and For Production Only. This enables the business model of Finance to dominate every other business model and probably 98-99% of the general populace.
The new primary paradigm is Direct and Reciprocal Monetary Gifting. The new paradigm will not destroy Finance, only its dominance and its over weening power of credit creation.
Even more important than the new paradigm itself, what is the natural philosophical concept behind it…and why is full conscious awareness of this concept so important?
The concept behind the new paradigm is grace/graciousness. Grace is a traditionally religious concept in the west, but the truth is that grace has its counterparts in the experiences pointed at by all of the world’s major wisdom traditions like satori-kensho, the discipline of Bodhisattva, atonement and samadhi so the concept is actually a universal one.
The philosophical concept and psychological experience of Grace has many, many aspects virtually all of which address the resolution of dualistic conflicts and enable the full expression of grace whose signature is thirdness, unity-greater oneness-wholeness and process-continuousness.
Full awareness of the concept of grace/experience of graciousness is important not only as a resolution of our deepest economic and monetary problems, but because understanding and experiencing it is the universal solvent for any problem. Yes, that’s a big statement, but I stand by it.
The study of wisdom and grace is actually the ultimate scientific study. Science like grace is a trinity-unity-oneness process with its hypothesis and dualistic determination of truthfulness or falsity regarding only what science considers the physical universe. Wisdom is all of that plus the integration of consciousness-self awareness as well, or as I like to metaphorically state it:
Science, like food, is a wonderful, beautiful and necessary thing, and it resides entirely within the digestive tract of Wisdom and its pinnacle concept Grace.
Why do all of the cutting edge reforms/reformers above need to integrate their efforts with Wisdomics-Gracenomics, and why would the failure to do so be an unethical act of omission?
Basically because they all correctly deal with less penetrative aspects of the problem. In other words they are heading in the right direction we need to go, but they haven’t yet fully recognized the new paradigm and the resolving philosophical concept behind it….and that is what Wisdomics-Gracenomics has discovered along with the two basic policies and their aligned regulations that will best saturate the economy with the new paradigm.
What will occur if the reformers do not integrate with Wisdomics-Gracenomics is either only slight reform, no reform at all or even regression due to old wrong direction orthodoxies lingering. Even if slight reform occurs it will be a mere palliative of the deeper paradigmatic problem, and I would assert that settling for a palliative when an actual solution to the end of the domination of Finance’s monopolistic paradigms is available….is not an ethical action, but rather an unethical act of omission.
Why is a New Paradigm so powerful?
Paradigms are generally held ideas and/or patterns that people have awareness of to one degree or another. Hence one of the component parts of a paradigm is consciousness itself, and a paradigm change is an increase in conscious awareness of truth(s) and workabilities in whatever body of knowledge the new paradigm is applied to, in this instance economics, money and payment systems.
Historically everything adapts to a new paradigm…not the other way around. The reason for this is that a new paradigm is such an obvious advance because it resolves long time problems. Also, in the instance of a new monetary and economic paradigm, the tremendous amount of time, effort, stress and human attention taken up by seeking economic and monetary security, especially as difficult economic times from the crisis in 2008 linger and disruptive economic forces like AI continue to increase….will be checked and an increase in the positive activities of leisure and positive and constructive personal purpose (leisure time is self chosen directed activity not idleness) will be increased.
Finally, the broader the area of application of a new paradigm the more inclusive and powerful its effects are. In other words if a paradigm is in philosophy or even in spirituality its effects could actually be planetary or cosmic.
What other integrative political and economic benefits will occur with the implementation of the policies of Wisdomics-Gracenomics?
More of the agendas of both the republican and democratic parties would be accomplished with the policies of Wisdomics-Gracenomics. For instance:
much greater economic democracy and the elimination of poverty with a relatively abundant universal dividend
increased competitiveness of small to medium sized businesses with the corporatocracy, and much greater likelihood of their profitability and longevity via both the dividend and discount policies
much greater economic stability and an almost perpetually good investment climate via both the dividend and discount policies
with a sufficient dividend the ability to eliminate taxes paid by both individuals and businesses for welfare, unemployment insurance and quite quickly even for social security
As the new monetary and economic paradigm is directly distributive instead of re-distributive income taxes could also be mostly or completely eliminated, and with the discount policy integrating price deflation into the economy there would obviously not be any problem with inflation as a result
With such taxation becoming redundant and unnecessary not only would people’s paychecks be larger, but businesses would be able to save their contributions to such taxes
finally, the bureaucracies associated with these taxes (Social Security, Welfare, Unemployment Insurance and a drastic reduction in the size and scope of the IRS) could be virtually eliminated Grover Norquist, are you listening?