Posted To Mish Talk

Neo-liberal economist’s models are flawed alright, but so are libertarian’s models. They ‘re both afflicted by the same thing that Ptolemaic cosmologists were perplexed about before helio-centrism was found to be the actual reality. In other words all of their calculations were inaccurate because they operated within the current paradigm…instead of recognizing and confronting the new one.

Economists and economic pundits on both/all sides have to be willing to drop their orthodoxies, be willing to integrate certain of their beliefs with those of their critics and be willing to embrace the third-ness aspect of the dialectic. That’s because conceptual opposition is the hallmark of imminent paradigm change and the willingness to integrate is the hallmark of accomplished paradigm changes.

To resolve economics’ major problems change the current monopolistic monetary and financial paradigm of Debt Only to Debt and Strategically Direct and Reciprocal Monetary Gifting at the point of retail sale. That would enable both greater individual and commercial monetary abundance while simultaneously implementing the impossible so far as orthodox theory is concerned, that is beneficial price and asset deflation.

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