Posted To Steve Keen’s Substack Podcast 03/13/2023

So long as we fail to analyze on the operant concept/paradigmatic level these crazy instabilities will continue and we’ll never get a regulatory regime that keeps things stable.

It’s not Debt ITSELF that is the problem it’s the monopolistic paradigm for the creation and distribution of new money…of Debt ONLY. The word ONLY designates it as a monopoly CONCEPT as in monopoly PARADIGM concept.

A 50% gift of price to the consumer at retail all of which is rebated back to the merchant granting it by the monetary authority utilizes the accounting method the private banks utilize to create 95-97% of our money. All kinds of benefits result from this single policy as I have posted here many times before, but the biggest benefit is it integrates the new monetary and financial paradigm of Monetary Gifting into the presently monopolistic paradigm of Debt ONLY.

A 25-50% debt jubilee at the point of loan signing (the percentage depends upon whether the purchase or purpose is ecologically sane or not) integrates debt jubilee CONTINUOUSLY into the economic process and the current Debt ONLY paradigm….instead of just pecking away ineptly at the current monopoly paradigm for ever shortening periods of crisis.

Why don’t you plug these policies into Minsky and see if it doesn’t stabilize things?

And of course the entire taxation and regulatory framework will need to be changed in order to align it with the new paradigm and the natural philosophical concept behind every historical paradigm change namely grace. That’s why I call the new economics Wisdomics-Gracenomics. Am I some gross moralist or religious fundamentalist? No, I’m probably the biggest agnostic and anti-anthropological theism advocate you could ever meet, but I refuse to throw the baby of Wisdom out with the anti-scientific bathwater.

Think on these things and maybe you’ll become a system’s philosopher like R. Buckminster Fuller, who talked alot about new paradigms urged us to become, instead of only the best economist on the planet.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s