The moment you begin to work on your self is the moment you begin to be a full human being.

Love and its active form Grace are by definition supreme ethical benevolence even if supremely powerful (“your sovereign Grace”), free from actual vices and an adherence to an ethic of Grace itself which is a dedication to making Grace (loving,caring) the supreme intention and motive that infuses even lesser motives like profit and control.

Grace is not prudery, judgmental puritanism, gross morality or dogmatism, but benevolence, goodness, virtue, dedication to thorough understanding and the intention of sanctification.

This is what has always been the signature of enlightenment, internal conversion, cognition as in new awareness of something one either half knew or was completely unaware of. It is the experience behind the classical descriptions of the conversion of Saul of Tarsus, the enlightenment of Gautama Buddha, the final realization of Aquinas etc. etc.

There is an experience behind the word and various dogmas of Grace/satori/samadhi and it is incredibly powerful, beneficial and personally/temporally undeniable no matter what your choice of faith or lack thereof.

To one who has faith, no explanation is necessary. To one without faith, no explanation is possible.  Thomas Aquinas

The second sentence in that quote is instructive to most moderns and scientistic types who unfortunately have adopted a mentally bifurcated, conditioned, reductionistic and fragmentary stance. This so often stands in the way of cogniting on the fact that Faith as in a deep, undeniable and naturally integrative personal experience and a deep faith-in a particular religious perspective….are actually the very same experience.

Grace is the ultimate deep and integrative experience no matter what one’s perspective, beliefs or lack of beliefs. This is full philosophical  exegesis, understanding and self knowledge.

Simply contemplate the active form of Love, i.e. Grace/graciousness in all of its aspects and you’ll never lose anything of actual value and have awakening, upon awakening. 

Grace is openness to truth, transparency as in an absence of covert merely self serving activities, honesty as in the willingness to show one’s true and actual actions.

This means no hidden charges, no compromising one’s fiduciary responsibilities, no off balance sheet creation of credit/debt, no collusion with home building corporations to jack up construction prices, no using government as a proxy-enemy in order to hide one’s dominance, no individuation of profits while socializing losses.

The end of necessary borrowing in order to stave off but not actually prevent recession/depression is accomplished by the dual abundant policies of Wisdomics-Gracenomics. Over time they will also enable the “withering away” of the 5000 year old problematic business model of Finance by continually smalling up its market for new borrowing.

Finance will continue but eventually only as a service business and intermediary which for so many years it has pretended to be and economists have deludedly considered it to be. Marx and libertarians, out of a disdain for government, have thought that the state would “wither away”, but their insight was not deep enough.

The monopolistic financial paradigms of Debt, Loan and For Production Only are the deepest economic and social problems, and the new primary paradigms of Direct and Reciprocal Monetary Gifting will replace them as the means and vehicle of monetary distribution.

And it won’t matter if every household is able to maintain a satisfactorily middle class lifestyle, rapidly pay for their means of transportation, their housing needs and desires and save $50-100,000 over a period of 10-15 years….there cannot be any price or asset inflation with the high percentage “retail product” discount which integrates price deflation into profit making systems. It will be a true money/primarily Gifting economy.

 Mind you, into the foreseeable future there will always be a need for new money creation by new start ups and by individuals who have sufficient incomes and desires to consume so I’m not saying Gifting will just become a new monopolistic monetary paradigm. There will be an integration of the two paradigms with Gifting simply becoming the new primary one.

Yes, we will need to remain diligent about insuring enterprises remain competitive, innovative and ethically honest in their accounting, and also conscientiously regulate and align policy with the new paradigm. There is no end to history, and we’ll even have to keep our eyes open to the emergence of other new problems and over time even additional new paradigms…or what I think will be the next step, new systemic and philosophical areas of application of the the concept behind the new paradigm.

Grace is everything and its integrative resolution. Eventually that will become the fully conscious reality in all areas of Life, and the manifestations of its many, many aspects will become more real and conscious in that process.

What finally and thoroughly cuts The Gordian Knot that seemingly ties enforced monetary austerity to preventing inflation, and without having to resort to either sketchy liberal orthodoxy that significant inflation will not return after the debt overhang is severely reduced, or to equally sketchy conservative/libertarian orthodoxy about general equilibrium and its ability to quash the same.

This policy actually also overcomes what I refer to as “the tyranny of numbers and accounting identities”, and enables the full integration, thorough saturation and the full economic expression of the new monetary paradigm of Direct and Reciprocal Gifting. 

It seems to me that if one simply gets the ideas of inherent and inevitable factors diminishing the circular flow of money, (are we going to eliminate individual saving, business profits, re-investments, pooling of money in stagnant and only slightly re-circulating financial vehicles like bonds?) additional costs above the costs of total finance (depreciation, interest, repairs to productive facilities) and becoming more aware of the costing/expensing/pricing circuit which insures that any money actually re-circulating back through the economy is vastly diminished simply because the nominal amount of money being paid to business/commercial agents is transformed by that “re-circulating” into business revenue….and so becomes no where near an equivalent amount of individual income…..that the moment to moment scarcity ratio of total individual incomes to total costs/prices…would become much more apparent.

It requires that one think like a cost accountant and a macro-economist at the same time.

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EB: Thanks. I don’t really see the part about depreciation, but I definitely see there is a gap. There is a gap because some of the recipients of the money put it under the mattress or otherwise don’t spend it, or invest it in speculative ventures in the financialized economy where it just grows exponentially like a parasite without ever getting returned to the consumer economy. I don’t see the part about the money being extinguished. Let’s say I borrow $1000 from my grandmother, who takes it out of her safe; I pay workers and materials and a bit to myself, set the price to cover all those costs, all the money is spent on the product, and I repay the loan to my grandmother, who puts it back in her safe. How is that any different from borrowing from a bank that gives me bank credit in my checking account, I pay workers and materials and a bit to myself, set the price to cover all the costs, all the money is spent on the product, and I repay the banker, who zeros out the debit in my account. Even if I spent the money on a sewing machine long before producing the product, the seller of the sewing machine would have the money and could spend it on my product when it was finished. I can see the problem if the banker charges interest, but you all don’t want me to talk about that!

Me:  Of course running a business is a lot more involved and difficult than that…because of all the reasons Douglas enumerated as the costing aspects of the gap like depreciation that have to be figured into your prices. That’s and the fact of the scarcity ratio insight about individual incomes is why 80% of new start ups go “belly up” within 3 years.

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Joe and Manu,

…which is Debt, Loan and For Production Only, and has gone on unaltered for over 5000 years.

Posted To A Steve Keen YouTube video on Austrian economics:

The Austrians have some good insights, but fall into terminal orthodoxy. Their valid insights however do not penetrate to the deepest problem of modern economies namely the curious, glaringly obvious and, in an allegedly free market competitive economy, the contradictory monopolistic monetary paradigms of Debt, Loan and For Production ONLY. These have gone on for over 5000 years and so are the least innovative and most stagnant aspects of the economy.

This dictum is correct, and perfectly reflective of the trinitarian nature of the temporal universe, the economic cycle of action known as Start, Change and Stop and the stopping and summing points known as sales of the pricing system.