New paradigm concepts are essentially wisdom insights because they are both deep simplicities. The universally agreed upon superlative spiritual value and experience of all of the world’s major wisdom traditions is love and the active form of love is graciousness. Thus the title of my book, Wisdomics-Gracenomics. The effects of every historical paradigm change can be verified as an aspect or aspects of the natural philosophical concept of grace. Imagine an economy and money system of grace as in gifting, thankfulness/gratitude, universal abundance, continual free flowingness and hence faith as in confidence in the future.

Debt jubilee for housing applies to primary residence and second/vacation home only. It reduces to 10% after that. It is unlimited for big ticket purchases that make ecological sense.

Inflation could be mathematically and macro-economically resigned to the dust bin of history with a 50% Discount/Rebate policy at the point of retail sale. No need to do all the calculus that makes people’s eyes glaze over because universal participation in retail sale guarantees macro-economic effect. Just do the simple math. Ending inflation for ever by implementing BENEFICIAL price and asset deflation (inversion of problematic temporal universe reality and thinking in terms of complete conceptual opposition to the present paradigm are cardinal signatures of paradigm change…think geo-centrism and helio-centrism for instance) is a solution not a palliative.

Debt jubilee is an excellent idea, but why make it just a one-off which gives a little relief and then wait another 10+ years for Finance to come up with some loopy scheme for re-enslaving us and then have to fight the pols they stuff millions in campaign funds to again, again and again? No, integrate debt jubilee directly and continuously into the economic process with a policy of a 25-50% debt jubilee at the point of loan signing. Think solution, not just palliative reform. Think mass socio-economic and political movement instead of trying to convince ego involved “authorities” and then bitching that things “change one funeral at a time”. New paradigms always being universally beneficial phenomena sell themselves. Yeah, yeah, yeah, humans not being an entirely rational or ethical species you’ll need some additional regulations and tax incentives and dis-incentices etc., but why not go for the gusto with paradigmatic analysis and paradigm changing policies instead of reform? You’ve got a platform, use it and expand it. Just don’t forget to cite me.

************************************************************

Paradigms being long acculturated concepts are mostly unconscious. Reformists like yourself, Michael Hudson, David Graeber, Warren Mosler/MMTers and Ellen Brown have completely surrounded the area of the the present paradigm (money, debt and banks), but not being completely conscious of the necessary and exact new paradigm concept you’ve not been able to visualize its benefits and most strategic points of implementation. For instance your insight that “economists can get their PhD in economics without ever having to take an elementary course in accounting” and that banks create money with accounting entries is spot on, but you fail to follow through with that insight by mimicing/applying that same accounting process with a 50% gift of price at retail sale all of which is rebated back to the merchant by the monetary authority…and hence it breaks up Finance’s monopoly paradigm for the creation and distribution of new money, namely Debt ONLY (the word Only designates it as a monopoly paradigm concept). As retail sale is universally experienced and participated in a monetary policy using reciprocal accounting entries there would have immediate and macro-economic effect. The benefits of this single policy are 1) the end of inflation and the beginning of beneficial price and asset deflation, 2) a redressing of the lost purchasing power the middle class has endured since the 1970’s because it would immediately double everyone’s ability to purchase, 3) the integration of the self interests of the consumer and commercial agents because there is now a potential doubling of demand for every enterprise’s goods and services which is the definition of good economic times and last but not least 5) as inflation would forever end it opens up the ability to run the kind of fiscal deficits necessary to fund the mega-projects necessary to confront climate change and research alternative sources of energy. Repeating the accounting process at the point of loan signing with a 25-50% debt jubilee policy further benefits everyone and further breaks up Finance’s monopoly concept of Debt Only.

As you can see becoming completely conscious of a new paradigm better enables its visualization and application.

A 50% Debt Jubilee/10% rebate of the final amount created at point of loan signing. That way the Banks can pocket 10% of the loan amount as income on their balance sheet. For instance a $400k house is reduced to $200k at retail sale, the consumer is granted a 50% debt jubilee at point of loan signing making the total $100k of which the bank receives $10k of income to go immediately onto their balance sheet as income.

Banking will be strictly regulated forbidding virtually all derivative products and allowing speculation only on new tangibly productive pursuits. Neither will currency speculation be allowed, and any breaking of the rules of the new concept behind the new paradigm (the natural philosophical concept of grace) will be immediately quashed. The end of the rule of Finance begins with the new paradigm.

And that is why equal debits and credits of monetary gifting at the points of retail sale and the point of loan signing are so powerful.

Accounting applied to basics like equal debits and credits summing to zero at retail sale which is the end of the economic system’s cycle, wed to the moral and ethical general good of the natural philosophical concept of grace as in Gifting,which is the pinnacle concept of Wisdom can lead to paradigm change. That’s the way its always been and this time is no different.

Conversely, the monopoly paradigm concept of Debt Only accountingly enforced by the private banking system regarding the creation and distribution of new money enforces its monopolistic economic realities on EVERYONE.

The policies of Wisdomics-Gracenomics break up the present problematic monopoly paradigm and open up the benefits of the mega-paradigm change AKA Monetary Gifting .

One must have 2 years of at least part time employment in the first 5 years or their dividend will be reduced by $500/mo.

After 5 years of receiving the dividend, if one does not choose to find part time employment one’s 0% required investment of gifted purchasing power becomes 50%.

Guaranteed income is security. That and employment is abundance. Add attentiveness and/or purpose and you have the ingredients of happiness, and if you contemplate love and its active expression graciousness you’ll experience wisdom.

All mega-paradigm changes are characterized by direct and permanent integrations of aspects of the natural philosophical concept of grace into the minds of humanity and humanity’s temporal universe systems/circumstances resulting in the beneficial effects of same not to mention higher consciousness.

There are numerous causes of inflation, but the biggest one is the fact that, within the current concept of supposed free markets, there is currently no effective way to prevent it…because instead of freedom the economy exists entirely within alternately goosed and strangled dominatingly financialized chaos. And Finance will not and cannot countenance the breaking up of its monopoly monetary paradigm for the creation and distribution of new money AKA Debt Only.

But if we strategically implemented the new monetary paradigm of Gifting with a 50% Discount/Rebate policy at retail sale utilizing the same accounting process the private banks use to create it only as debt namely equal debits and credits summing to zero additional costs…voila`:

1) beneficial macro-economic price and asset deflation instead chronic erosive inflation

2) everyone’s purchasing power is immediately (and costlessly) doubled along with

3) the potential demand for every retail enterprise’s goods and services.

4) This also accomplishes the economic and political integration of the self interests of the traditionally opposed constituencies of consumer and merchant. Ever heard of ” the revolt of the bourgeoisie”?

Pair this policy with a 25-50% Debt jubilee policy at the point of loan signing and you:

1) integrate debt jubilee directly and continuously into the economic process instead of stupidly allowing finance to integrate its powerful monopoly money creating grant/power to bully every individual and commercial agent and suffocate reforms.

Fortunately, ideas cannot be dominated and suffocated…But they can be ignored even by the erudite. Hint.

2) reverse the human civilization long de-stabilization of economies/empires due to the inevitable build up of private debt

3) you actually integrate finance into the rest of the legitimate economic process instead of stupidly allowing it to be a costly wholly exterior parasite (because its “product” is virtually always pre-production or post retail sale).

Complete conceptual opposition and complete inversion of problematic temporal universe “realities” are the cardinal signatures of historical paradigm changes. “Nuf said.”

Maybe we’d have a much better chance to confront the energy problem you correctly identify if, due to inflation being mathematically resigned to the dust bin of history, we could run the kind of fiscal deficits to fund the mega projects necessary to confront climate change and research new energy sources. No?

MR: Moral hazard, which is what we’re trying to stop now. “Free-riding starts at n of 2” Aiden Vining (SFU. 1996).

How about we use national monetary authority (as originally designed) to make much needed national investments, like (equivalent to) St. Lawrence Seaway. Thus making the country more productive and able to give everybody a raise.

Neoclassical is about doing nothing, resulting in vast surplus labour.

Steve’s got the best blog in the world and he does it on a dime.

Human capital matters most.

Me: Moral hazard? The banks and their suck up coterie of corporate colaborators are the only ones with moral hazard for accepting/coercing gifts as in bail outs and that after THEY were the ones who caused the great financial crisis of 2008. The individual has never been given a break or a gift even though every citizen of modern economies should be entitled to a modicum of such based on an ever increasing cultural heritage of productive/technological capacity built up over the last few centuries.

I’m all for national investment. In fact Ellen Brown’s National Infrastructure Bank is another very good reform that could begin to do that, but remember Keynesianism got morphed into neo-classical macro. That plus they don’t have an inflation killing/inverting/paradigm changing/wildly individually beneficial set of policies like I do…that could herd the entirety of the political apparatus toward sanity…if such policies could only get a platform to communicate them. Bitching about “the authorities” and “the pols” is a good purgative, but trying to convince them when their egos are involved is futile and poor sociology/political science. Give the individual an easily perceived heavy dose of buttered monetary bread and even more importantly hope and miracles can happen. Consult Gandhi or MLK, Jr.

I hope Steve earns even bigger dollars than he’s making on patreon and substack. Yes I am a troll, but I’m a troll for the new paradigm and its policies all of which conceptually and intentionally align with everything Steve, Michael Hudson, MMTers and Ellen Brown claim and want to see happen. And all of their movements could easily integrate with and be further enabled…if they’d just open themselves up to operant applied concept/paradighmatic analysis.

“Human capital matters most.” Right, my motto has always been: “Systems were made for Man, not Man for systems.”

Me: Exactly, when your pocketbook and hold on power is questioned its exceedingly easy to fool yourself or just say fuck you to the masses who don’t understand the problem and/or have been acculturated to believe the elite ideology anyway.

Consider this. Even if you don’t see the conceptual alignments of the policies I advocate with all of the present leading reforms and the historical signatures those policies mirror with past paradigm changes then look at what happened after the Great Depression and WW II when Social Credit (a now mostly historically buried world movement whose policies I have extended and innovated to the paradigmatic level) threatened to bring the concept of monetary gifting into the public consciousness. The fall back “major” reform that distracted everyone from Social Credit’s concept of Monetary Gifting became Keynesianism. In my opinion settling for a reform when a paradigm change is actually doable is out ethics, but when a ruling ideology is seriously threatened it does make reforms more likely. So if one can’t see a thirdness greater oneness of a Hegelian synthesis at least go for thesis versus antithesis sub 2.

Inward and outward grace is the true and deepest reality, and the conscious cultivation and integration of those realities is tarditionally known as enlightenment.

Nothing wrong with thinking, abstracting and science…only habituation to it that prevents one from experiencing the deeper, fuller and more beneficial reality of the thorough integration of both inner and outer realities.