Retail sale is currently the only legitimate terminal ending, cost and price summing and terminal expression point for any and all forms of inflation for every consumer product and service including “big ticket” asset items like autos and homes. Thus a 50% discount/rebate monetary policy implemented at that point and time has immutably beneficial effects for all economic agents individual and commercial and ends the austerity enforcing monopolistic paradigm that private finance has used to dominate, manipulate and de-stabilize economies for the entire history of human civilization. That conclusion is history according to David Graeber and Michael Hudson, the present and continuing debt deflation inevitability according to Steve Keen and the very policy expression of Wisdomics-Gracenomics’ identification of the single concept defining the new paradigm of Abundantly Direct and Reciprocal Monetary Gifting.
We don’t need mathematical and scientistically hide bound inadequate attempts to statistically discern the problem and solution we need historically enlightening paradigm perception and action to implement the new one.
Why? Because in diverse and advanced economies inflation is eliminated due to the fact that price deflation is stabily integrated into economies implementing the 50% discount/rebate policy at the point of retail sale.
Temporal universe reality trumps old orthodoxies and their “realities”.
Me: Corporatism, which indeed has its shortcomings, is not the deepest problem with the economy. It is and has always been finance since the beginning of human civilization. Evolve and command finance with a new concept and aligned set of policies that is of such unifying and unimpeachable ethic and the economy will follow….because that concept is an integration of the opposites of benevolence and sovereign power.
Me: As I’ve said all along it takes mass action with an idea and its aligned policies that will create a new pattern that frees our ability to finance the ecological changes and projects that will enable mankind to survive the looming crises we face. Everything else may be intellectually interesting and relatedly relevant, but compared to action to affect the concept of a new monetary and financial paradigm is ultimately “vanity of vanities, all is vanity.”
I’ve been posting here and on other economic sites for over 10 years since the GFC and virtually nothing, NOTHING, has been accomplished in the real world to make the world better economically or financially.
We desperately need a mass movement advocating real world, immediate positive effects for all economic agents that will also reduce indebtedness and the tendency to become increasingly indebted, that will end the chronic scarcity of individual and systemic monetary austerity and that will end erosive inflation.
Action, insightful and forthright action to get workable and resolving policies understood and enthusiastically embraced by the general populace is exactly what we need, not more regurgitation of already agreed upon critiques, not more ad nauseum analysis of the old paradigm and certainly not apathetic cynicism.
Does anyone here want to save their children and grandchildren from the result of apathy and inaction for another decade? Let’s have a discussion about how we can get a movement going with definitive policies that will have immediate beneficial effects.
This is another good discussion. Anthropology is the closest discipline there is to paradigm perception because it is interdisciplinary and deals with culture which is a vast and multifaceted pattern itself.
The discipline of paradigm perception is actually the willingness and ability to look at the present pattern and discern the single concept that describes it, and also the ability to discern a new paradigm/pattern by its various imminent and accomplished signatures. It is a kind of supra-anthropology that includes philosophy, ethics and the naturalistic integrative and unitary insights and processes found in all of the world’s major wisdom traditions.
With all of the agreed upon fallacies and long lingering problems in economics which itself is a major signature of imminent paradigm change the discussion should indeed focus on deciphering the new paradigm and how policies aligned with it can be applied to make it the new temporal universe reality.
Completing the circuitous free flowingness of money throughout the economy with the 50% discount/rebate policy at the point of retail sale and the rest of the aligned regulations and structural changes recommended in my book Wisdomics-Gracenomics: The New Paradigm Theory of The Economy and Money System resolves the two thorniest and deepest problems of technologically advanced capital intensive economies (individual and systemic monetary scarcity and chronic inflation) and ends the current monopolistic paradigmatic dependence upon Debt Only as the sole form and vehicle for injecting money/credit into the economy.
I agree with alot of what MMT has to say and its general thrust toward increased fiscal deficit spending, but it is only the latest REFORM. Steve Keen comes closest to recognizing the real problem when he correctly states that neo-classicalism’s basic problem is it ignores money, debt and banks. To be precise it ignores and obscures the present paradigm of Debt Only, and fails to recognize the new monetary, financial and banking paradigm of Abundantly Direct and Reciprocal Monetary Gifting.
Economics has been broken since before the reform of The New Deal and the monetary and financial paradigm has not changed since the inception of human civilization in the paradigm change from Hunting and Gathering to Agriculture/Homesteading. Keynesianism was a fall back second reform to C. H. Douglas’s burgeoning world wide movement of Social Credit whose advocates themselves did not recognize how to take the correctly aligned philosophical concept of the new paradigm and turn it into a paradigm change with its policies. As we all know Keynesianism got morphed into neo-classicalism betraying the fact that it was just a reform. A paradigm change for all practical purposes is a permanently progressive historical occurrence.
Isn’t it about time this blog begins to seriously discuss the history, signatures and necessity for discovering the new paradigm?