Posted To Steve Keen’s Substack Podcast 05/22/2023

What I would like to know is why didn’t you come up with the policy of a 50% Discount/Rebate policy at the point of retail sale considering that you bemoan the fact that economists can get their PhD in economics without even taking a basic course in accounting, and been aware of the fact that the banks create money with equal accounting debits and credits.

Maybe its because you also are still too acculturated to the present paradigm for the creation and distribution of new money, namely Debt as in the Burden to Repay Only. Or maybe its because you’re a little too caught up in abstraction to look directly at the economic process to realize that retail sale being perhaps the single universally participated in/experienced point of that process that a 50% reduction in price there would
1) slay inflation by implementing beneficial price and asset deflation,
2) double both everyone’s purchasing power and greatly increase demand for every enterprise’s goods and services and
3) break up the private banks’ monopoly paradigm that has been the reality no matter whether it was the Palace or the Banks that wielded it….since the beginning of human civilization…
4) all in one fell swoop.


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