Me: The way to tame/remedy capitalism’s suave dominance is the same remedy for socialism’s tendency toward rather un-suave dominance. Love and its active form grace/graciousness as a zeitgeist/ethic and applied monetary and economic policies that align with and effect its primary aspects. Like a universal dividend and discount/rebate policies at strategic points throughout the entirety of the legitimate economic/productive process. Abundant, direct and reciprocal monetary free gifting IS the new monetary and economic paradigm….because it will bring rational, ethical and good and appropriate order to economic systems.
KZ: Craig, maybe it will bring torture and death squads. Lots of ways to solve the problems of group coherence and cooperation. Some you obviously like. Others you just as obviously do not like. What’s your plan when the job is done well by those you hate, as with fascist, racist, violent groups in America today? Once debated this issue in a Boston Unitarian Church. One of the panelists agreed with your proposal. But she said something interesting about the issue I’m raising. What if the offer of free gifting is met with violence? Her response – bury the bodies and pray, but don’t give up on the idea. Thankfully, we’ve not come to this yet. But it is something you ought to consider.
Me: Violence as a reaction to receiving a gift is fundamentally unbalanced. Now you may have such anecdotal reactions, in fact you absolutely will have them, but the vast majority of individuals despite their not being perfectly rational or ethical will have positive and constructive reactions to it. Man is basically good yet flawed. To recognize this as true think about how many truly evil and incorrigible people you’ve met in your life compared to how many flawed but basically good ones you’ve known. We have a justice system to deal with broken and violent people. We must press on for evolution toward a society based on the wisdom of the natural philosophical concept of grace/graciousness and its reflective economic policies of monetary free gifting,and not let fear or hair splitting analysis get in the road of it.
DT: Negative claims are debts –. The principle we have so often mentioned, that the State maintains existing debts, is better stated in the following way: “The State maintains in each
individual case both negative and positive debts,” or, if you like, ” The State maintains in each case both negative and positive claims.” When the State introduces new means of payment, this takes effect in reference to the negative and positive debts of each person, or – what comes to the same thing – his negative and his positive claims.
“Each individual has an amphitropic position in trade, i. e. he is in some quarters a debtor and at the same time in other quarters a creditor. This amphitropic position of the individual in
economic transactions was so obvious that it was completely overlooked.
“The objection of the layman to means of payment like the much-decried inconvertible paper money is always based on his mistake of looking at the position in economic transactions monotropically ; he thinks of himself as always creditor. He makes two mistakes : he regards such Chartal means of payment under their natural, not their legal aspect, and secondly, he considers his own position in trade monotropically, not amphitropically.”
Me: Dave, monetary gifting doesn’t alter the relationship between debtor and creditor. It simply makes the economic system workable and free flowing.
PB: Ok. But remember banks enjoy a special legal status. Banks are uniquely and explicitly granted the legal right to commingle customer funds. Brokerages for example may not use customer funds to purchase securities. You or I cannot lend money we don’t have. Only bank charters explicitly give banks freedom to do these things. I think this fact holds great explanatory power when asking what money is and how the economy works. Richard Werner teaches at length about this.
Me: Correct. For a single business model to have a monopolistic grip on the money creating right, and the even more deeply negative reality of the sole paradigm for the form and vehicle for money’s distribution, namely Debt Only,….is unworkability, dominance and felonious action waiting to happen.
The only reason why the individual, economists and economic pundits tolerate such nonsense is habituation and hence de-sensitization to that paradigm’s negative effects.
We need to wake up, stand up on our hind legs and demand that such obvious stupidity end yesterday.