DT: Looking back through all this discussion, perhaps only Craig’s first paragraph when opening it has stuck to Romer’s theme, responding constructively with Monetary Gifting (as against Capitalism’s demanding) and Maths Changes enlightening (as against the maths of Capitalist Economics obscuring or confusing). I agree also with his conclusion there: economists and financiers “need to go back to school and learn coding or something” (the ‘something’ being how time sharing and error correction work in steering, digital communication and computers).
Me: Thanks Dave. You and I are the only ones who dare to offer up actual and specifically monetary policies to remedy our economic ills. Virtually everyone else here is still in the iconoclastic, name dropping or authority citing stage of analysis and are thus thwarted by problems they can’t see remedies for. I’ve several times suggested everyone here state their specific policies and the problems they resolve. No takers.
A question for you. Your credit card idea….is the balance debt or monetary gifting? And wouldn’t an account for everyone at the central bank serve the same purpose?
Finally, the “something” we all need to learn is the self reflective and integrative understanding AKA wisdom. If we cognite on the power and goodness of the concept of grace applied to economics a Wisdomics-Gracenomics will emerge from the present rigged and smothered financial chaos.