Yes, government creates some money, but private finance still has a virtual monopoly in that regard. And even government injection of money via enterprise still does not effectively resolve the chronic scarcity of aggregate individual income in ratio to total costs and so total prices. Regardless of whether one wants to confront the cost inflationary nature of modern economies (and even if it were not true) virtually all economists seem to be unaware of the fact that every selling point within and throughout the entire economic/productive process is a summing and momentary stopping point for total costs and total prices. Hence it is the perfectly unobtrusive place to implement a reciprocal discount/rebate monetary policy that can accomplish what up until now has been considered impossible, namely beneficially integrating price deflation into profit making systems. It also brings greater awareness to the specific operations of the pricing/costing system of commerce and as a result best enables the above policy which is the long sought seamless integration of macro policy with micro-foundations. Finally, it ends the monopolistically dominating paradigms of private finance and also ends the problematic necessity of continuous borrowing in order to attempt (and ultimately fail) to keep “treading water” modern economies from falling into recession/depression. This policy and others and the philosophy behind them are in my soon to be published book Wisdomics-Gracenomics: The New Integrative Economic Theory of The New Monetary Paradigm.
Integrate!….and contemplate the experience of Love and its active/temporal form Grace.
…but only as they were either complicit with and/or unaware of the greater and deeper problem which was the dominating, parasitical and unworkable paradigms of Finance.
And once the new monetary and financial paradigm is implemented mankind will have a truly significant progression not only in economics, but in many other areas of life that have been suppressed by the time and energy “needed” by the old paradigms.
However, because everything adapts to the new paradigm, not the other way around, banks will have to hone their legitimate functions of business plan and market segmentation assessment to better avoid such. They will also have to bend their knee to the primacy of the aspects of Grace known as good will and cooperation and place profit at least third on that list.
Governments and politicians will likewise have to recognize the new primacy of Grace’s aspects of newness/innovation, stewardship/conservation and dynamic balance/thorough integration of dualistic opposites as their new ethic and purpose. Again, there is no end to history except perhaps with the application of the aspects of Grace to new/all human systems.
…think for a minute that once the debt overhang is greatly reduced that what I call “human freedom to act inflation” as well as the inherent cost inflationary nature of modern economies will not become reality?
Of course it will. There’s currently no way to prevent either from then occurring. And Finance will encourage both with shadow banking idiocies and with “tickler rate” temptations to everyone and their dog’s uncle…so lets get real and recognize that the Abundant “Retail Product” Discount policy of Wisdomics-Gracenomics is the only way to end Finance’s dominance, eliminate inflation and beneficially integrate price deflation into profit making systems.
Its the perfect and seamless integration of macro-economic theory and micro-economic policy.
The true test of a theory is whether or not its policies will have the desired and declared effects claimed, and Wisdomics-Gracenomics takes the still attached to equilibrium policies of C. H. Douglas’s Social Credit and extends and deepens their effects to the point of paradigm change. It also fully fleshes out the concept behind Social Credit and the new paradigm that is, Grace as in Gifting, as a guide to align structural changes and regulations within and throughout the ongoing reality of that new paradigm.
This discount policy is the complete integration of macro-economic policy with the realities and operations of commerce at their micro-foundations. It is enlightened, integral and empirical cost accounting and the broader economic significances to be found and derived from the same. Its the closer look, the enlightening integrative seeing and the more workable application of economic policy which is the exact process and effect of Wisdom.