Where Macro-Economics Went Wrong

Macro-economics went wrong when it failed to see that the most important and potentially beneficial thing about money is that it is basically accounting and hence must obey the conventions of same. Hence it has devolved since Keynes (and actually more so from Douglas who DID recognize this fact) into Hayek, Friedman, neo-classicalism and the near triumph of Finance Capitalism.

Equal reciprocal debits and credits of money at the point of retail sale resolves all of the deepest problems of the current monetary and financial paradigm and changes everything about economic theory. Just look at it.


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