Posted To Steve Keen’s Patreon Page 04/19/2018

DSGE models are elaborate abstract fictions, that is true. However, heterodox theories are equally abstract and hence many times removed from the day to day realities of commerce and so prone to missing key economic insights as a result. Heterodox economists say that economics needs a reformation or new paradigm…and then go right back to manipulating abstract mathematical symbols and/or arguing theory based on same. Economists need to focus on deciphering the single concept that creates a new pattern that fits seamlessly within present legitimate structures, i.e. a new paradigm.

All theory stands or falls on the temporal universe effects of its policies. DSGE models essentially do nothing to stop the coalescence of the dominance of the economy by the business model of Finance, and all present heterodox theories merely attempt to tweak it. The Reformation was largely about breaking up the dominating orthodoxy of the Church with a new paradigm of a direct relationship with God, and directness of policy is one of the aspects of the new paradigm in economics and money systems.

The policies of the new monetary and economic paradigm of Direct and Reciprocal Monetary Gifting go beyond every abstraction looking for a solution in macro-economics, end the destructive monopoly paradigm of private finance and do more to benefit the individual, every legitimate business model and the entire system than economists and politicians on both sides of the aisle have accomplished since forever.

And all you have to do is play the policies out in present time in order to prove that to yourself.

The new monetary and economic paradigm of Direct and Reciprocal Monetary Gifting is an extension, innovation and integration of the insights of a nearly one hundred year old economic theory, the most cutting edge insights of current heterodox economists and the monetary mechanics of MMT. It’s the “whole ball of wax”, the genuine article, the unassailable progression known as a paradigm change.

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