Reply To A Poster on RWER Blog

“There seems no early prospect of any kind of “technology” evolving that can be employed to address concrete problems. If I am wrong I’d be pleased to hear about it.”

The technology is the hiding in plain sight 500 year old discipline of double entry bookkeeping and its convention that equal debits and credits sum to zero. Steve Keen whose brilliant de-bunking of DSGE has recently re-discovered the importance of that discipline in following money flows, it’s just that focusing primarily on theoretical and mathematical abstraction he hasn’t looked at the economic/productive process itself and hence hasn’t recognized the point in that process where the convention could be applied for Ptolemaic to Copernican complexity exploding effect.

Are you pleased….or still caught up in epicycles as explanations?


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