I absolutely agree with the great mind of C. H. Douglas and the handful of heterodox economists like Michael Hudson, Steve Keen, Warren Mosler and his band of MMT economists and anthropologist David Graeber. Their outrage, penetrating intellectual insight and general direction of thought are all headed in the correct direction. But what we need in order to integrate, coalesce and break through with….is the full conscious awareness of the philosophical concept behind the new paradigm they all so desperately want to see come into policy effect in the temporal universe. And that is what Wisdomics-Gracenomics is all about. It identifies and steps boldly and completely into the new paradigm, fully fleshes out its philosophy and explains the aligned nature of the dual policies and main regulatory framework necessary for that cognition and its expression. In short it is a report from the other side of the paradigmatic looking glass, a vision of monetary, economic, cultural and hopefully individual rejuvenation that integrates the truths in opposites, accomplishes the synthesis and its thirdness-greater wholeness-oneness.

Over the last several years I have said Steve Keen deserves a Nobel Prize for his de-bunking of neo-liberal DSGE. Having said that, the fact remains that policy is the true test of theoretics and no one including Keen has come up effective policies to usher in the new paradigm that heterodox economists are still too unconscious of. Yes they’ve figured out half of the dual policies (a monthly universal dividend) that are necessary, and advocate one-off reflective actions like “a modern debt jubilee”, but because they’re too often caught up in some abstract theoretical three times removed semi-fugue they do not look directly at the day to day workings of commerce and also miss the fact that both the pricing system and the money system are digital in nature, hence they miss the complementary and synergistically effective policy of a discount to prices that is rebated back to merchants participating in those discounts. So even the best economists need to get their heads around the new paradigm necessary to greatly stabilize the economy, namely Direct and Reciprocal Monetary Gifting.

Knowledgeable economic historians will recognize these policies as those of one of your own past UK citizens C. H. Douglas and his Social Credit. But even the remaining torch bearers of Douglas’s theory often still have the orthodox stench of austerity, scarcity and equilibrium hanging around their thinking. My Wisdomics-Gracenomics makes a final break with these orthodoxies, innovates Social Credit’s already pungent policies and fully fleshes out the concept behind the new paradigm it expressed 100 years ago so that economists and politicians can become fully conscious of it and act to implement it.

What it really is and what it really should be called is Human Freedom To Act Inflation. And the way to prevent the effects of Human Freedom To Act Inflation is to implement a policy of a high percentage discount to the “retail” prices of every business model to its consumers that is reciprocally and fully rebated back to the enterprise graciously gifting its consumers.

Why? Because it is the terminal summing and ending of a digital economic pricing cycle of action and the equally digital money system which makes it the perfect place to implement a monetary policy of Direct and Reciprocal Monetary Gifting for the benefit of every individual and commercial agent.

Science like food is a wonderful, enjoyable and necessary mental tool….that exists entirely within the digestive tract of its superior mental mode, Wisdom.

In other words to put it in mathematical terms:

The set of Wisdom is larger, greater and more whole than the set of science only.

My impression of MMT is mixed. I think they have the mechanics of money and its fiscal creation and destruction correct, but the stench of liberal orthodoxy still hangs around it IMO, and I am largely of liberal pedigree. What liberal and conservative orthodoxies need to cognite on is that wisdom in any area of life is the process of the thorough integration of the truths and only the truths of apparently opposing perspectives.

I think the major conclusion to be drawn from MMT is that a directly distributive money system is possible….you just have to look closer at the workings of commerce and how they reflect the Start, Change and Stop process nature of the temporal universe itself. Finding the stopping/ending/summing points of costs and prices throughout the entire economic process and implementing monetary policy specifically at those times and places cuts through all of the complexity and myriad activities of modern economies.

I am an innovator and extender of C. H. Douglas’s monetarily distributive theory Social Credit that I refer to as Wisdomics-Gracenomics and am compiling two books explaining those policy extensions and philosophical exegesis of its basic concept.