RL:  Craig, its the governance systems in corporations, decision power that matters. As long as you let the top decide on who gets the emoluments, guess who will get them? Set up a compensation committee in firms and let all stakeholders have representation. You leave the governance of firms, the decision-makers with all the power.

Me:  Robert,

I don’t disagree that power is at the crux of the matter at all. However, that power will never be assailed until the monetary paradigm changes from scarcity to guaranteed abundance….for all.

That way neither the deep pocketed corporations nor the banks will be able to use “the reserve army of the unemployed”, artificial intelligence or even climate change to fight their battles….because the power to FREELY determine commercial survival will be passed “into the many hands of the individual.”

Micah 4:4 But everyone shall sit under his vine and under his fig tree, And no one shall make them afraid;


PB:  Krugman’s wrong turn is more fundamental: He ignores banks and banking by arguing them away as mere intermediaries. You’d think that after witnessing the near collapse of the world economy due to a banking crisis, that neoclassical economists might revisit that, banks don’t matter, assumption. Nope.
What we get is a tweak: Ok, maybe there are impatient and patient agents who are intermediated by banks.
No Paul. Banks don’t just intermediate. Banks also create new credit money by lending. Banks significantly determine the money supply in this way. Increases in money supply affect important macro variables including unemployment. Any economist who still doesn’t understand this should be embarrassed.

Me:  Correct. And cutting edge heterodox economists and reformers ignore or are unconscious of the monopoly paradigm of Debt Only held by the banks which is the even deeper problem.

Free every individual and every enterprise from that tyranny with the new paradigm of Abundantly Direct and Reciprocal Monetary Gifting at the point of retail sale with a 50% Discount/Rebate monetary policy. It’s too simple for the intellectual vanities of the erudite to countenance, too beneficial and freeing for all economic agents not to garner their support and too exposing of the naked domination of the banks to deny.


JB:  Or in general, epistemologically, “… imaginations do not vanish at the presence of the truth, in virtue of its being true, but because other imaginations, stronger than the first, supervene and exclude the present existence of that which we imagined.” Spinoza. Ethics 3, Proposition 1 Note.

Me:  Correct description of actual analysis, good science and cognition itself. And is the mental process of all paradigm changes, of which all are so obviously progressive and hence increased survival phenomena….that the choice is easy if not inevitable.


Me:  Reductionistic “science” needs to be transcended and that can be done without resorting to religious dogma. Self awareness EXISTS no matter to what one attributes it or does not attribute it to.

Current economics doesn’t consider philosophy except to consciously or unconsciously affirm the current paradigm so it is stuck in either compartmentalized social or hard sciences which tribally resist integration of their particles of truth. As I have said here many times Wisdom is the integration of the truths etc. in opposing and/or compartmentalized perspectives, and paradigms are quintessential integrative concepts because they are a SINGLE MENTAL concept that transforms and creates an entirely new PLURALISM/TEMPORAL UNIVERSE PATTERN. Hence Wisdom/integrative thinking TO THE LEVEL OF paradigmatic perception must be the goal in economics.


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