Steve Keen”s Research, Douglas’s…and Mine

He has basically re-discovered Douglas’s cost accounting/cost inflationary insight on the lower bound of costs/prices…on its upper bound via debt deflation after asset price inflation has outstripped the capability of individuals and enterprise to service debt.

Both perspectives are true, but Douglas’s insight is missed, and if it is not recognized stability will elude us. Also, Douglas’s dual policies of a universal dividend and a discount/rebate, and my paradigm changing extensions and innovations of same, are the more basic and integrated means of remedying both problems by utilizing the tool of double entry bookkeeping which is the underlying infrastructure of all commerce as well as its most detailed and comprehensive recording mechanism.

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