Pursuit of Theoretical Truth Is Fine…

…deciphering and applying a paradigm change is several magnitudes of positive effect higher than any and all theorizing possible.

The recent back and forth between Steve Keen and several of the leading advocates of MMT dramatizes this well. Keen makes excellent theoretical points, but compared to the positive general economic effects and “knock on” beneficial and resolving effects in entirely separate areas of human endeavor that integrating the new monetary paradigm of Direct and Reciprocal Monetary Gifting into the economy would have….they all pale to virtual insignificance.

I also agree that some of the advocates of MMT seem arrogant, rigid and overly orthodox in certain ways. However, there is also the orthodoxy of the current paradigm itself. Until one clearly deciphers the old paradigm and understands the signatures all paradigm changes….all theoretical insights still fall within the orthodoxy of the current paradigm.  Paradigm perception where it is urgently needed and sorely overdue should be the first and last order of business. That is how true progress is accomplished, NOT with epicycle perturbations and theoretical fine points….that remain squarely within the old paradigm.

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