Any “theory” that does not directly address and eliminate the unethical dominance of Finance’s paradigms of Debt and Loan Only is a priori incomplete, consciously or unconsciously compromised and a palliative not a solution.

Varoufakis, like virtually every economist wants to do the right thing, but also like every economist he’s still got half of his mind in the old paradigm of Debt and Loan Only. Hence he’s got cognitive dissonance about the way forward and makes mistakes in theory and policy. All economic theorizing that does not thoroughly see the new paradigm of Direct and Reciprocal Monetary Gifting ends up being Ptolemaic “epicycles”. A new monetary and economic paradigm is necessary to transcend and incorporate the old paradigm.

The same as science is the “epicycle” of Wisdom and Spirituality.

The new monetary and economic paradigm is Gifting, and the same concept behind Gifting, namely Grace is also the long delayed new paradigm of Science as well.

A basic income is actually just another way for Finance to extend the life of their dominance of everyone. Basic is old paradigm scarcity thinking. Grace, monetary and otherwise, is all about abundance. If you have a sufficiently abundant universal dividend and a high percentage discount to prices not only will you break up private finance’s monopoly paradigm of debt and loan ONLY, but you will also be able to eliminate virtually all transfer taxes that both individuals and enterprise pay for welfare, unemployment insurance and even quite quickly social security. Finally with abundant Gifting and prices always discounted/deflated it will also so saturate the entire economy with monetary grace as in Gifting that the market need and necessity for new borrowing will largely wither away. An economy of Grace as in Abundant Gifting. Precisely as one who believes in God needs to contemplate God’s Grace to deepen their experience of it, so one also needs to contemplate monetary grace as in Gifting in order to properly and thoroughly visualize it.

I’m actually not that worried about everyone becoming slothful etc. The vast majority of us find purposes other than work and I don’t think that majority will do anything but increase. However, as I have written on my blog as a way to condition people to the increased leisure (leisure is not idleness, but rather participation in self chosen activities that one is interested in and enjoys) I advocate changing the definition of full time work to 20 hrs/wk which will make unemployment virtually disappear and with the abundant dividend and discount policies people will still have what amounts to a better than middle class income guaranteed and much more if they chose to work more than 20 hrs/wk. Employment as purpose is only a subset of total possible positive and constructive purposes.

A Public Banking System will be implemented where all profit after normal expenses returns to the government for funding various programs along economic, environmental and social programs that align with the concept of grace.

Derivative products will be severely reduced and/or eliminated.

Any and all shorting of the currency foreign or domestic will be null and void in their effects. Money is not a commodity.

Private finance will be reduced to intermediation of existing money.

The public banking system will be allowed to make loans only after clearing by the National Credit Office which will make the final decision about all new money creation.

Every attempt will be made to prevent laundered money from criminal activities to enter the system, and those responsible for any such money entering the system will be prosecuted to the full extent of the law.

In return for the stable and abundant economic system created by the dual policies of the dividend and discount, and the savings enabled by the elimination of most if not all transfer taxes every enterprise opting into such policies will agree to a rigorous monthly examination of their accountancy. If arbitrary cost/price inflation is discovered and confirmed the enterprise will pay fines 5 times the amount of such increase. If the enterprise and its management is discovered repeating such or any other outness not justified by legitimate economic factors they will lose their discount privileges and face felony charges for fraud. Graciousness is both benevolent and sovereign and so will not tolerate any attempts to undo a system so based.

Any and all regulations will reflect both the benevolence and strong ethical willingness to act aspects of the philosophical concept of grace.

It’s absolutely true  that the story and movie The Wizard of Oz is a terrific metaphor for the domination, manipulation and arbitrary rule of Finance and the money system. However, the even deeper truth it expresses is summed up in Dorothy’s final words, “There’s no place like home.” That is, home to your more integrated and appreciative of all things in Life…self. Art and science are wonderfully complimentary disciplines…and together they are incorporated into and lead to the even more unifying, renewing, third and integrative discipline of Wisdom.

Art imitates life, Science codifies it and Wisdom personally/self actualizes the best resolution the drama and knowledge each brings to us. 

Create both virtual and temporal opportunities for people to experience intense austerity and deprivation, intense aloneness, environmental disaster, the dangers and helplessness of war and combat and the anomie of purposelessness.  These would be for adults only. Less intense versions teaching the same lessons to children could be created. And of course counseling about the healthy integration of these virtual/temporally arranged experiences would be an essential ending part of the process.

The point is to enable people to deeply learn the mental virtue of appreciation of abundance, freedom, free association, friendship, peace and an ecologically sane and sustainable world.

…actually transcends accounting itself! By transcend that means gets beyond the problems its conventions enforce, not eliminates its usefulness. Accounting/double entry bookkeeping enforces the paradigms of Cost and Debt in a cost inflationary and individual income deflationary system, and the new paradigm of Monetary Gifting interpenetrates, encompasses and brings abundance and free flowingness to an economy dominated by cost inflation and Debt.

[ (Debit x Credit)  <–> Abundant Gifting ]  =  Monetary and economic free flowingness

So long as the economy is free flowing and prices are always going down in ratio to available individual incomes…who cares how much people save and enterprise profits? With the current money and economic systems of course it matters…because virtually the only way to increase individual incomes and maintain systemic profitability…is to borrow more money therefore inevitably resulting in the build up of Debt and its costs. This is why the paradox of thrift….is paradoxical, because savings and retained earnings take money/income out of the circular flow of the economy….and the costing system of commerce itself also reduces that circular flow…and the policies of a universal dividend and rebated discount to retail product enables the transcendence of this inevitably cost inflationary/individual income deflationary systemic condition.

…is the new paradigm. All that is left is for Finance and its leaders and minions to bend their knees and take their ethically proper and smaller place in the economy alongside every other business model.

That’s it.  Look at it, and keep looking at it until you see it clearly, and then get on the bandwagon that will thwart any subversive plans by Finance and sweep every politician who can’t or won’t see it out of office and tar them as paradigm dunces and/or in league with a business model that has dominated humanity for over 5000 years. You do not compromise on freedom and the the elimination of dominance.

…are both paradigm changes. Consciously knowing your death is imminent generally makes you focus on truly important issues and act as rationally and wisely as possible to resolve them. Conscious living is equally focusing because one has integrated and resolved the major personal issues they had and so they are free to act rationally and wisely.  In both cases everything adapts to the internal or temporal reality which transforms one’s new perspective on….everything. Every paradigm change is the same way. It changes everything in such a fundamental way that the entire area of life it applies to is transformed by the new paradigm reality.

In other words everything adapts to the new paradigm change….not the other way around. All you have to do is fully perceive and visualize the paradigm change. Then when its reality fully hits you, you know how to consistently live your life as well as align and regulate any systems it may apply to.