Posted To RWER Blog 12/03/2018

Me: We need to understand that the bankers and their enablers are few and we the benefactors of the new paradigm are many. Economists need to make up for their ignorance/intellectual complicity in letting the paradigm of Debt Only continue to reign. They could best do this by recognizing that endlessly theorizing, preaching only to ego involved academics and “authorities” in the faint hope that they will change their minds and making everyone’s eyes glaze over with calculus….are fruitless political endeavors.

They must instead get behind a mass movement that communicates the simple but elegant and powerful essence of the benefits of the new paradigm and its policies for both the individual and commercial enterprise.

KZ:  Craig, bankers are not only few but in current American society mostly invulnerable to attack or prosecution. Not one banker was prosecuted regarding the 2007-2008 financial crisis. And, of course none went to prison. I simply find it difficult to believe that the movement you suggest could take on bankers successfully. Particularly, when US Presidents, US Congress members, religious leaders, and entrepreneurs have failed to control banks. Right now banks are in charge. Before any such movement as you suggest even has a chance of success, banks must be taken down, hard. That needs something more like an MMA match.

Me:  Do not underestimate the power of desire for change and self interest combined. Trump allegedly won the presidency by demagoging the former alone. Showing the extremely large constituencies of the 99% and the small to medium sized business community who dwarf the employment and personnel numbers of the major corporations how they can IMMEDIATELY almost triple their incomes and potential business revenues with simple, easily understood and observable policies like the discount/rebate policy and a universal dividend….is an extremely powerful message. Put that together with an honest and urgent modicum of indignation about how the financial and corporate elite have dominated the general populace and…..

Regurgitating the correct and erudite critiques of neo-liberal DSGE for ANOTHER decade has no such chance of succeeding.

The sooner well intentioned economists swallow their intellectual vanities and realize that the point of retail sale is the simple but elegant and effective fulcrum point in the entire economic process where a single monetary policy can invert stubborn longstanding realities into the very goals they already say they want to see occur….the better.


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