“Economists assumed that the economic process happens in an abstract, no-space and no-time historical void.”
Real world temporal universe fact: Retail sale is the terminal ending point of the economic process, that is, it is where production exits the economy and becomes consumption. That economists have missed this shows how overly abstract and theoretical they have become. It also explains why they have not recognized the incredibly powerful potential for policy at that point. Thirdly, it explains how they have failed to see how private for profit money creation is a wholly exterior, parasitical, incredibly expensive POST retail sale set of costs and hence logically not a legitimate business model.
Empirical fact: Up to 97% of our money is created by accounting entries, i.e debits and credits. As Steve Keen has correctly bemoaned, “Economists can get their PhD in economics without taking so much as an elementary course in accounting.” This shows how ignorant they are of the most significant fact about money creation, namely it is most BASICALLY accounting
Given these facts, it is not surprising that economists and economic pundits are missing the temporal universe problem resolving and efficacious accounting implementation reality of a 50% Discount/Rebate policy at the point of retail sale.
Economists and economic pundits can run from/refuse to confront, confirm or engage these facts, but they cannot hide from them.