RM: I’ve seen Steve Keen use double entry bookkeeping to make a point enough times to appreciate its significance. Thank you for clarifying what it should be used for.

Me: Yes, Keen’s and MMT’s insight that money is created by the banks and the government using double entry bookkeeping is very important. However, finding new policies to utilize that tool to resolve the deepest problems of modern economies like 1) the dominating and destabilizing effects of the current monopoly monetary paradigm for the creation and distribution of all new money AKA the applied concept of Debt Only, 2) chronic erosive inflation, 3) chronic individual monetary austerity and 4) debt deflation is paradigm changing. Its analogous to Kepler’s discovery of elliptical orbits that finally made helio-centrism more astrologically accurate than geo-centrism and so sealed the deal on the new paradigm.

And all of this occurs because one analyzes on the applied conceptual/paradigmatic level instead of only utilizing systemic analysis which of course is good and necessary, but doesn’t guarantee one becomes consciously aware of the new concept (Strategic Monetary Gifting), nor does it pin point the best places and times to implement that new paradigm (the various points of final payment/retail sale throughout the economic process) which is also a Keplerian insight.

If you want paradigm change you have to begin by analyzing on the conceptual level.