Me: The whole problem for the EU can be boiled down to the fact that you cannot have an international economic, financial and monetary confederation unless the separate nations involved can have stable separate economies. And that’s why the paradigm changing policies, regulations and structural changes of Wisdomics-Gracenomics are the answer not only for the EU, but every other modern economy as well.
Wisdomics-Gracenomics is the synthesis of capitalism and socialism AKA the profit making system of Direct and Reciprocal Monetary Distributism. Synthesis/Integration of the truths in apparent opposites is wisdom, and the natural philosophical concept of grace which is characterized as a dynamic, interactive, integrative ongoing process is wisdom’s pinnacle application.
The pot is beginning to boil over and the wheels are falling off in the EU, and it will only get worse unless we implement the policies of Wisdomics-Gracenomics which will IMMEDIATELY change individual income/business revenue scarcity and systemic austerity into abundance, check the frustrations that all agents have built up for almost forty years, expose the conspiracy theorists, zenophobes, white supremicists and fascist malcontents as the idiot extremists they are and enable us all to take the deep breath necessary to step back from a lemming like rush over the cliff to civilizational collapse.
DT: I agree with your first statement. The problem is, the financial powers that be don’t want confederation, they want global union, superficially divided up so they can rule it.
Me: Exactly. That’s why we must end their dominant and monopolistic paradigm of Debt Only by integrating the new one of Direct and Reciprocal Monetary Gifting into the economy and money system. That doesn’t mean there won’t be loans anymore, just that Gifting will become primary and resolving of the chronic problems that afflict the current system/paradigm.
DT: Craig, I can’t tell whether I agree with you when I’m not sure what you are saying: it is as if I am hearing English in which the key terms are (as the joke has it) “all Greek to me”. Let’s try the other way round and see if you agree with my reading of what I think you are saying.
“Paradigms (mostly unconscious) rule individual minds and their systems”. Yes. Like rose coloured or dark-coloured spectacles one tends to forget one is wearing? Isn’t Kuhn, though, suggesting a concrete example of a way of seeing and doing things that by force of habit has subconsciously become “normal”?
So you then have proft from “the paradigm of Debt Only” and “the new paradigm of Direct and Reciprocal Monetary Gifting”. From “Debt Only” I can’t tell whether your you are thinking of a bank balance in a communal system (which may or may not be false), or a farmer who has had to borrow seed corn from his neighbour and is indebted to him personally whether or not he is able to repay it (with or without adding a “thank you” or hire fee). I suspect most people these days see the banking system as a person lending seed corn, not as an organisation out to “make money” by hiring out emply promises.
So is your “new paradigm” not still that old paradigm, but with good neighbours Directly Gifting the seedcorn and our gratefully Reciprocating when our neighbour is in need? Quite right, too, but this paradigm still doesn’t make us aware of today’s reality in which corporations (non-existent legal “persons”) are hiring out misleading empty promises,” so what will change?
Your question to me basically expresses the difference between the “loanable funds” hypothesis and the endogenous money one, the latter of which has been established by heterodox economists as the actual reality today. Unfortunately neither loanable funds nor endogenous money gets us to a solution to the fact that the rate of flow of total costs and so prices exceeds the rate of flow of total individual incomes as C. H. Douglas discovered or that we’re caught between a rock (continuous debt build up) and the hard place (of recession)….if the system doesn’t continuously borrow, as Steve Keen has re-discovered.
The new paradigm of Direct and Reciprocal Monetary Gifting cuts the above Gordian Knot by finding the specific point in time and the economic process (retail sale) where a simple but elegant reciprocal monetary policy is able to resolve the four deepest problems of modern economies:
1) systemic austerity
2) Individual income scarcity
3) chronic inflation and
4) autocratic financial control into
1) and 2) systemic and individual monetary abundance
3) price deflation painlessly and beneficially integrated into profit making systems and
4) a publicly administered financial system whose benevolence enables competitive commercial agents to thrive by gifting sufficient amounts of purchasing power into “the many hands of individuals.”