Posted To Steve Keen’s Substack Page 12/05/2022

Fisher kept his mind open even after suffering from the negative effects of fallacious orthodoxy. That takes self reflective wisdom and a brave and insightful willingness to embrace complete conceptual opposition which is one of the signatures of imminent paradigm change.

Minsky is a very good macro-economic tool but the truth is a lot of calculus isn’t necessary when an operant concept is identified and the point of a policy expressing it has universal/macro-economic effects. Retail sale is such a point as it is universally participated in, and is the terminal ending point of the entire legitimate economic process where production exits the economy and becomes consumption so by definition it then is also the terminal expression point for virtually all significant economic factors…like for instance inflation. Just keep doing the simple math on the 50% Discount/Rebate policy at the point of retail sale until its macro-economic effects blow your economic mind.

We require a grand integration of the left and right political and economic perspectives and that is exactly what the new monetary and financial paradigm will accomplish. Changing the monopolistic monetary paradigm of Debt Only as the sole form and vehicle for the creation and distribution of new money with strategically implemented Monetary Gifting will integrate the self interests of both the consumer and enterprise. Unfortunately neither the left or right will presently embrace it because its too philosophically radical, requires that one drop their own orthodoxies and goes against the King, namely Finance. But if it ever gets a platform so everyone sees that a single one of its policies will immediately double their purchasing power, potentially doubles demand for every consumer product and service all while forever ending inflation…the first political party to embrace it will have an unbeatable coalition much greater than Roosevelt’s after the Great Depression.


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