which Douglas discovered via the opposite direction via the study of the data of double entry bookkeeping, applying calculus to that data and then crafting policies based on the digital realities of the pricing, money and accounting systems….that would have stabilized modern economies much more effectively and thoroughly than Keynesianism did.
The one thing Douglas and Social Crediters (and even heterodox economists today) did not see was that instead of only filling “the gap” it was necessary to over flow it via a high percentage compensated retail price policy….what I refer to as the discount/rebate policy….and that this would raise a merely superior economic theory to the level of paradigm change. And any other lesser monetary or indirect policies are merely old paradigm “epicycle perturbations of the orbit of Mars.”
And my book Wisdomics/Gracenomics: The New Monetary and Economic Paradigm outlines the implementation of that new paradigm.
CB: Craig: “And probably the biggest/most telling signature of a paradigm change is elegance, simplicity, effectiveness and the mirthful reaction to recognition of the new paradigm of: “Why didn’t I see this before, and why did it take 10 or 5000 years to see it.”
ONE BOOK -ONE AUTHOR ***What irony…IT’S Free Download***
“There never was an idea stated
that woke men out of their stupid indifference
but its originator was spoken of as a crank.”
— Oliver Wendell Holmes, Sr.
(1809-1894) American Poet
“In four books written from 1921 to 1934, Soddy carried on a “quixotic campaign for a radical restructuring of global monetary relationships”[this quote needs a citation], offering a perspective on economics rooted in physics—the laws of thermodynamics, in particular—and was “roundly dismissed as a crank”
Me: Yes Soddy was so labeled by the “authorities”. And some of his ideas were closer to the truth than neo-liberalism’s stupidity of money being “a veil over barter”. (However, fractional reserve banking is fallacious as well.)
C. H. Douglas had the problematic ratio of moment to moment macro costs/prices as a flow, being greater than the simultaneous flow of available individual incomes way back in 1928 and so way before Minsky-Keen who have re-discovered Douglas’s A + B theorem. Same thing goes for UBI which has become popular lately. Nobody has any idea of the compensated retail price idea and policy that Douglas being a very astute observer and thinker derived from double entry bookkeeping….and which I have extended and innovated to raise it to paradigm changing effect.