Just enable the banks to create a 50% GIFT of money TO THEMSELVES as half payment of everyone’s monthly mortgage, automobile, insurance or other big ticket item including of course the taxes, insurance, interest and any other additional costs included in any escrow account.

In essence the banks dissolve their own monopoly paradigm…but to their own benefit (increased security, stability and broadening of their market).

Ironies abound…with an actual paradigm change! Why? Because paradigm changes are and always have been complete inversions of conceptual, temporal and personal mental realities.

Every economic woe you are expressing can be remedied by a change in the monetary paradigm from Debt ONLY to Debt AND Monetary Gifting. Why does Finance have the right to wield a destabilizing monopoly paradigm for the creation and distribution of all new money??? It doesn’t obviously, any more than the Catholic church had the right to their monopoly paradigm for salvation Via Roman Catholic Sacraments ONLY. We need a monetary Reformation.

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Yes, it needs to be worked on and is wonderfully accomplished by the single policy of a 50% Discount/Rebate at retail sale which mathematically doubles everyone’s purchasing power while simultaneously tarnsforming chronic erosive inflation into beneficial price and asset deflation. I’m not advocating for Monetary Gifting ONLY which would just be another monopoly paradigm. I’m advocating for integrating Monetary Gifting STRATEGICALLY into the Debt ONLY system so as to create a thirdness greater oneness out of the dualistic futility of palliating (progressives), ignoring (capitalists) or worshipping (libertarians) the present paradigm and in fact the entire corpus of “free” market theoretics which is a misnomer for the non-resolving chaos that results from not having known and enforceable barriers between which one can rationally craft ethics. There is no such thing as TOTAL freedom (read an unworkable and ethic-less framework which is what “free” market theoretics actually enforces….unless of course we perceive and resolve the core of the core problem which is the present monetary paradigm that all new money can ONLY be created as debt. And here is the way to keep oneself on the straight and narrow path toward achieving the new paradigm with the key insights of Paradigmology:

1) Historically new paradigms are always in complete conceptual opposition to the present paradigm

2) Historically new paradigms create resolving thirdnesses greater onenesses of problematic dualities and

3) Historically the beneficial effects of every paradigm change have always been an aspect or aspects of the natural philosophical concept of grace like greater abundance, greater freedom, greater unity, new realizations, inversions of both personal and temporal universe reality, etc. etc.

So lets work for a Wisdomics-Gracenomics of which the insights of MMT are a nascent awakening to.

The point of double entry bookkeeping is the trinitarian result of the accounting equation namely its equation/equilibrium process and ultimate problem resolving result…which is 0. Economically/Systemically thats enlightening…but an ever zeroing/trinitarian point is essential for full understanding because scientifically/mathematically defining the problem doesn’t necessarily lead one to true thirdness solutions. In other words the apparent trinity of problem identification, action to equate it that only momentarily fixes the problem but doesn’t CONTINUALLY solve it…isn’t the wisdom of a true trinity. And thats why “a modern debt jubilee” isn’t going to resolve the present Debt Only monetary paradigm any more than it did for the ancients…because it isn’t implemented at the single continuously ongoing, universally experienced/participated in and ending point, that is aggregative as in macro-economic point in the entire economic process, namely retail sale with:

1) enough of a beneficial effect that it will be irresistible to both parties involved,

2) mathematically large enough that “normal” attempts at gaming it like garden variety inflation won’t undo its resolving effects and

3) exposes extraordinary attempts of same like leveraging up speculators so as to short the currency and thus become obviously unethical to even moral and ethical morons like neo-classicalists and libertarians.

Hence, the 50% Discount/Rebate policy at retail sale. Which with its Strategic Monetary Gifting undoes the destabilizing effects of the current monopolistic monetary paradigm of Debt Only…CONTINUOUSLY and so makes every day Christmas Day! Merry Christmas!

1. Debt as in all new money is created and distributed Only as debt
2. Debt as in the obligation to pay full price Only
3. The monopoly aspect of these aspects designated and enforced by the word Only
4. Money can be distributed directly to the individual Only via employment, investment or indebtedness

Actually the goal needs to be: How do we find the key paradigm changing application that will resolve the complexities of the current anomalous monetary and economic paradigm. That way we don’t just settle for palliative reforms we get to experience permanent progressive change…and still keep our minds open for additional deep change because complexities are an emergent aspect of the temporal universe.

The human civilization-long acculturated intellectual disease of modernity also known as cynicism. Why? Because it stops action before it even starts. And the solution to this problem is exactly the same as the solution to the current monetary paradigm because just as Gifting is an aspect of the natural philosophical concept of grace, so is Renewal as in process, time, being consciously/mentally in continual present time…as opposed to mistakenly thwarting change by clinging to abstract fallacious orthodoxies and/or falling for the unconscious trap of cynicism.

Let us instead embrace Antonio Gramsci’s prescription of “pessimism of the intellect, optimism of the will”.

Implement the new monetary Paradigm of Strategic Gifting. With a 50% Discount/Rebate policy at retail sale and a $1000/mo. Universal Dividend why would we need the payroll taxes for welfare and unemployment insurance?

If the government is monetarily sovereign, which it is, and a 50% Discount/Rebate policy at retail sale transformed chronic erosive inflation into beneficial price and asset deflation, then why would the government have to worry about inflation and continue to create any new money for any deficit as interest on treasury bonds? So federal tax rates could easily be reduced. And, as treasury bonds are actually payments to the private sector, the interest paid is actually a part of GDP and not really the big problem neo-classical theorists and libertarians think it is what we should do is just create the money to cover any deficit…with just the kind of money that doesn’t create additional cost, that is, GIFTED money.

Finally, in order to mitigate the large increase in consumption why not introduce a sliding scale percentage of gifted money be required to be “taxed” and invested in 5-6% Eco-Energy R & D treasury bonds? That way the interest is universally democratized instead of being almost entirely going to the banks and already wealthy individuals, and because its GIFTED money being “taxed” its actually a GIFT of investment as well as a rational action toward confronting the energy and ecological crises that are looming up at us.

Just examples of Strategic Monetary Gifting being ALL UPSIDE.

Even though a $500k house will only need a $250k loan the banks will undoubtedly make more money than they do now. Why? Because with the twin policies of a 50% Discount/Rebate at retail sale and a reasonable universal dividend to everyone 18 years of age and older virtually everyone is creditable which vastly enlarges the market for big ticket item loans like for autos, furniture, mortgages etc. etc.

A modern debt jubilee is monetary gifting. The problem is its simply a one-off palliative reform that does not effectively or continuously deal with the continual build up of private debt which has historically destabilized empires and been probably the major reason for them going to war thinking that stealing their neighbor’s assets might re-stabilize their own economies. The best way to deal with the problem and effect an actual paradigm change in economics and the money system is to fully integrate and implement Monetary Gifting CONTINUOUSLY into the present Debt Only system with the two policies of a 50% Discount/Rebate at retail sale and a reasonable universal dividend, and to then craft additional policies to terminally stop commercial agents from gaming/de-stabilizing the new paradigm. The present monetary paradigm for the creation and distribution of all new money of Debt ONLY hasn’t changed for the entire history of human civilization. Doing so with Strategic Monetary Gifting would be a monumentally progressive phenomenon not unlike the change from nomadic hunting and gathering to homesteading, urbanization and agriculture.

Did you get that Dr. Keen and DemystifySci podcasters? We need to be smarter than the ancients who indeed did do debt jubilees… instead of being dumber than they were by not doing it despite the fact that now we have the digital and double entry bookkeeping means of CONTINUOUSLY implementing debt jubilee. How “smart” is it to have a one-off debt jubilee…and then let Finance go right back to dominating every individual and commercial agent and continuing to de-stabilize the economy…for another 60-70 years?

PE101: You completely miss the lesson about equilibrium. The whole point is to explain and demonstrate the adjustment and recovery process after boom and bust cycles and going to higher and lower levels of income. Try actually reading the textbook.

Me: Equilibrium as in stability is what to aim for. What you are missing is the understanding that the present monetary paradigm for the creation and distribution of all new money, namely Debt ONLY…DESTABILIZES AND HAS ALWAYS DESTABILIZED economies since day one of human civilization. Neither you nor Keen have recognized how to remedy this problem CONTINUOUSLY because neither of you analyze on the APPLIED conceptual/paradigmatic level and hence you’re both resigned to being erudite dunces. Sorry to have to school both of you, but the truth is just the truth of the matter. If you want the full policy program and additional policies that rebutt every objection I’ve had hurled at me for the last 8 years or so you could get my book here: https://www.amazon.com/Wisdomics-Gracenomics-New-Monetary-Paradigm-Policies/dp/B08X7MZ4KH/ref=tmm_pap_swatch_0?_encoding=UTF8&qid=1552358772&sr=1-1-catcorr

You want positive progressive change? Think conceptually. Why? Because paradigms are concepts, furthermore APPLIED NEW concepts. Keen is a fantastic systemic analyst…but he fails to analyze conceptually despite throwing the words paradigm change around occasionally. New paradigms always perceive/frame the key outness of the present anomalous paradigm. Keen has the build up of private debt correctly identified as a problem, but that doesn’t enlighten completely. The key problem is the concept behind the creation and distribution of all new money, namely Debt ONLY. In other words new money can only be created as debt so Debt ONLY is not only the present problematic monetary paradigm its also a monopoly paradigm. Its exactly analogous to the Roman Catholic’s monopoly paradigm of Salvation via Roman Catholic Sacraments ONLY.

Now, the short course in Paradigmology consists of the following historically verifiable facts: 1) New paradigms are always in complete conceptual opposition to the present paradigm (examples: nomadic, tribal hunting and gathering to homesteading, urbanization and agriculture, also geo-centrism to helio-centrism which 2) also dramatizes a signature of paradigm changes which is complete inversion of temporal universe problematic realities 3) the beneficial effects of every new paradigm have always been an aspect or aspects of the natural philosophical concept of grace like abundance, increased survivability, new/increased awareness, integration/synthesis/unity of opposites to the point of a thirdness greater oneness of a (seemingly) problematic/unresolvable duality, so a trinitarian mindset. Strategic Monetary Gifting is conceptually in complete opposition to Debt ONLY, a policy of a 50% Discount/Rebate at retail sale inverts the present biggest problem of chronic inflation into beneficial price and asset deflation and grace as in Gifting check all of those boxes.