David Graeber and Michael Hudson have documented how private debt has always built up until it de-stabilizes economies and empires for basically the entire length of human civilization. This happens no matter whether it is the palace/government or like now the private banks creating our money. This paradigm of Debt Only as the sole form amd vehicle for the creation and distribution of money is thus way over due for changing. All of the leading reforms like MMT, UBI and Ellen Brown’s Public Banking dance around and align with the new monetary and financial paradigm that needs to be integrated into the Debt Only based system. What is MMT? It’s monetary gifting to government contractors. UBI? Monetary gifting to the individual. Public Banking? In a fiat monetary system like we have a true publicly administered banking system would be able to lend at a rate of 0% thus gifting the sometimes double amount of the retail cost to consumers of big ticket items. The one policy no one has cognited on and is the very expression of the new monetary paradigm (Direct and Reciprocal Monetary Gifting) is a 50% Discount/Rebate policy at retail sale. This single policy woulf effect a paradigm change in the money system and economy. Why? Well a 50% discount at retail sale for virtually everything would immediately macro-economically eliminate any possibility of inflation…by (amazingly and mind blowingly for orthodox economic theorists) implementing BENEFICIAL price and asset deflation into profit making economic systems. It would also immediately double everyone’s purchasing power (you could buy $100 worth of goods or services for only $50) and potentially double the available demand for every enterprises goods and service. Thus it would fulfill two of the signatures of historical paradigm changes (new paradigm concepts are always in conceptual opposition to the old paradigm (here it is Debt Only vs Monetary Gifting), and inversion of temporal universe reality (from erosive inflation to beneficial deflation).
Here is my book on the subject: https://www.amazon.com/dp/B07PLNJLRN/ref=sr_1_1?keywords=wisdomics-Gracenomics&qid=1552358772&s=books&sr=1-1-catcorr