Me: Even though I’m in agreement with virtually all of the heterodox theoretics being presented on this blog I’m the only one here who is comfortably willing and able to talk about monetary and economic POLICY because no one else here is confident enough to do so, and the reason for that is they have not yet recognized the philosophical concept upon which the new economic philosophy and paradigm needs to be based.
When you do a thorough exegesis of that concept and see how it fits seamlessly within the legitimate operations of economics, resolves its deepest and most chronic problems, replaces the dominance and primacy of the current structurally dominant entity and its paradigm (private finance/Debt Only) and defines the new paradigm itself…you become the one eyed man in the country of the blind.
HS: I know a little about the one eyed man in a village becoming the source of all wisdom, but I do truly admire the Ethiopian one-eyed, wounded, old but fierce female tigers who scare the hell out of their male counterparts to defend their loved ones working co-operatively and teaching their young ones to do the same in battle.
God knows when these Economists will be confident enough or wise enough to develop better philosophies to leave behind for anyone!
Maybe they will become wise enough if they contemplate that debt jubilees are are monetary grace as in gifting, and that government deficits are grace as in monetary abundance instead of austerity. Also, if they contemplate that a universal dividend is monetary grace as in directness instead of via re-distributive taxation (directness versus via the church only was the major aspect of grace expressed in the Protestant Reformation).
Maybe they will become wise enough if they contemplate that the reciprocality of the discount/rebate policy is grace as in graciousness, benevolence, lack of bias and relationship as opposed to the dominance by uneconomic costs by finance that businesses must pass on in order to attempt to be profitable in a system of individual monetary scarcity and systemic austerity.
Maybe if they study the signatures of imminent and accomplished paradigm change it will help as well.