RL:  Craig, its the governance systems in corporations, decision power that matters. As long as you let the top decide on who gets the emoluments, guess who will get them? Set up a compensation committee in firms and let all stakeholders have representation. You leave the governance of firms, the decision-makers with all the power.

Me:  Robert,

I don’t disagree that power is at the crux of the matter at all. However, that power will never be assailed until the monetary paradigm changes from scarcity to guaranteed abundance….for all.

That way neither the deep pocketed corporations nor the banks will be able to use “the reserve army of the unemployed”, artificial intelligence or even climate change to fight their battles….because the power to FREELY determine commercial survival will be passed “into the many hands of the individual.”

Micah 4:4 But everyone shall sit under his vine and under his fig tree, And no one shall make them afraid;

*************************************

PB:  Krugman’s wrong turn is more fundamental: He ignores banks and banking by arguing them away as mere intermediaries. You’d think that after witnessing the near collapse of the world economy due to a banking crisis, that neoclassical economists might revisit that, banks don’t matter, assumption. Nope.
What we get is a tweak: Ok, maybe there are impatient and patient agents who are intermediated by banks.
No Paul. Banks don’t just intermediate. Banks also create new credit money by lending. Banks significantly determine the money supply in this way. Increases in money supply affect important macro variables including unemployment. Any economist who still doesn’t understand this should be embarrassed.

Me:  Correct. And cutting edge heterodox economists and reformers ignore or are unconscious of the monopoly paradigm of Debt Only held by the banks which is the even deeper problem.

Free every individual and every enterprise from that tyranny with the new paradigm of Abundantly Direct and Reciprocal Monetary Gifting at the point of retail sale with a 50% Discount/Rebate monetary policy. It’s too simple for the intellectual vanities of the erudite to countenance, too beneficial and freeing for all economic agents not to garner their support and too exposing of the naked domination of the banks to deny.

*****************************************

JB:  Or in general, epistemologically, “… imaginations do not vanish at the presence of the truth, in virtue of its being true, but because other imaginations, stronger than the first, supervene and exclude the present existence of that which we imagined.” Spinoza. Ethics 3, Proposition 1 Note.

Me:  Correct description of actual analysis, good science and cognition itself. And is the mental process of all paradigm changes, of which all are so obviously progressive and hence increased survival phenomena….that the choice is easy if not inevitable.

**********************************

Me:  Reductionistic “science” needs to be transcended and that can be done without resorting to religious dogma. Self awareness EXISTS no matter to what one attributes it or does not attribute it to.

Current economics doesn’t consider philosophy except to consciously or unconsciously affirm the current paradigm so it is stuck in either compartmentalized social or hard sciences which tribally resist integration of their particles of truth. As I have said here many times Wisdom is the integration of the truths etc. in opposing and/or compartmentalized perspectives, and paradigms are quintessential integrative concepts because they are a SINGLE MENTAL concept that transforms and creates an entirely new PLURALISM/TEMPORAL UNIVERSE PATTERN. Hence Wisdom/integrative thinking TO THE LEVEL OF paradigmatic perception must be the goal in economics.

“Everyone on this site knows how to create sovereign money, free of debt, and how it could repay the debt in half a generation, without austerity or even inflation.  Pretending the problem is debt just feeds into the 1% narrative that the 99% is responsible for the injustice it suffers from the 1%.  It’s got to stop.”

The Discount/Rebate policy will not apply to personal, ecological and/or economic vices. Vices are not aligned with the healthy, ethical and rational aspects of the concept of grace, therefore such industries and their actions and products will not benefit from the policy.

Corporations filing bankruptcy will not be taxed. However, if a corporation routinely makes no profit and yet mysteriously remains in business they will be audited and taxed at a rate of 5% of gross sales.

Finance capitalism is domination of the individual and enterprise. Socialist re-distributive taxation is theft of individuals and enterprise. Communism is government ownership of enterprise. Direct and Reciprocal Gifts of Monetary Distribution frees us from both finance capitalism and socialist re-distributive taxation, and delivers the power of monetary freedom and hence the power to decide commercial survival into “the many hands of the individual”.

Y:  Economy is not so simple entity that a monetary reform idea of a dreamer can solve 99.99% of problems of the economy. We must study the economy with much humbler mind. Learn first from history of the economy and then form history of economics as one of sciences.

Me:  @Yoshinori

Genuine paradigms are single concepts that create an entirely new pluralism, that is a new pattern. A paradigm is hence the second most integrative human concept, second only to the NATURAL (got that?) philosophical concept of grace which is the ultimate integrative and unitary concept of wisdom itself. Considering that the defining characteristics of every historical paradigm change has been an aspect or aspects of the concept of grace…this is entirely logical, that is, unless you ascribe to the religion of scientism.

Paradigms are not reforms. They are pattern changes. Reforms exist only WITHIN the old paradigm and hence must conform to it and consider its complexities. They are “epicycles and perturbations of Mars”.

A new paradigm fits into any of the legitimate and aligned existing structures and complexities in the body of knowledge/area of human endeavor, but its concept being integrative, unitary and transformational is still a new pattern altogether.

Political analogy:

The Mueller Investigation was reform-like in that it was emasculated by complexity and got easily nulled by an operative.

Trump’s soliciting of a foreign government to benefit him in his coming political campaign by smearing his likely opponent is paradigm-like in that it is a singularly defining and impeachable act that lies and bold obs-curation cannot deny or undo.

Me:   @Frank and John

“One can not repair a system which is incapable of answering the questions which need to be answered.”

Correct. Except that “Considering that Occam’s razor reveals the analysis to introduce a minimum of entities — definitions of productivity and technical progress — I do not understand why apparently all this is considered to be of no account.” …is just another reform that misses the mark of the real problem, that is….the monetary and financial and hence the economic paradigm.

Economics needs a NEW concept, a new monetary concept that transforms and creates an entirely new TEMPORAL UNIVERSE PATTERN/paradigm in economics.

All of the leading reforms affirm this. Minsky’s FINANCIAL instability hypothesis, Modern MONETARY Theory, Public BANKING, Hudson’s FINANCIAL parasitism…except they’re piecemeal, reductionistic instead of integrative, problem focused, overly abstract unconscious dancing around the SOLUTION….which is the necessity for a new monetary and financial paradigm. They all fail to rise to the integrative level of the paradigm.

Me:  What if chaos is a misnomer? And in fact grace is the actual basic NATURAL reality cloaked by a biased scientism? Such a pan-entheism invites examination of reductive, abstract and reactive scientism and a truly integrative pan-scientific viewpoint.

KZ:  Craig, sent your question to a friend at Sandia Labs. His response. “If grace is just another way to get God into the equation, forget it.”

Me:  @ Ken,

“Craig, sent your question to a friend at Sandia Labs. His response. “If grace is just another way to get God into the equation, forget it.”

A typical non-integrative scientifically religious response. And not correct in regard to anything I have ever posted here. The experience of god is entirely a natural one, and grace as in utter integrative, interactive and dynamic free flowingness is the scientifically accurate and personally beatific reality.

Culturally hide bound scientism and orthodox religiosity are both passe’.

Money itself is at best a teriary cause of “monetary inflation”. What does money have a mind that orders us to raise prices? Don’t be stupid. The real causes are enforced individual monetary scarcity and systemic monetary austerity which tempts commercial decision makers to raise their prices when they perceive more money coming into the system in order to hopefully garner additional business revenue.

So the real cause is monetary scarcity itself coupled with no policy infrastructure to eliminate the temptation to inflate by commercial agents. And the solution is policies intelligently providing monetary abundance while guaranteeing price and asset deflation with a Discount/Rebate monetary policy at the point of retail sale.

It’s about the monetary and financial paradigm, stupid!

And by the way hyperinflations are largely manufactured phenomena. They never happen until after disastrous wars and/or other disruptions to their productive capabilities and where the vanquished nation has onerous war reparations imposed on them; whereupon their pols and central banking authorities leverage up speculators to short their own currency making two trillion reich’s marks able to purchase a one way ride on the subway and then the vanquished nation says to the victorious nations: “Here are your two trillion run amoks, we’re even. 🙂

KZ:  Add this to your thinking, Robert, on the American side of the Atlantic. “Yet the dramatic contrast between the CEO as superhero and the CEO as antihero has obscured the underlying links between these two types, which have appeared on the scene only in the last twenty-five years or so. Moreover, not even the profusion of corporate scandals since the beginning of the current decade has prompted the question why it is that managers run corporations.” (Khurana, Rakesh. From Higher Aims to Hired Hands) And, often run them badly, illegally, or both.

Me:  @Ken,

“Moreover, not even the profusion of corporate scandals since the beginning of the current decade has prompted the question why it is that managers run corporations. …”And, often run them badly, illegally, or both.”

Correct. And the answer to that question is, that despite the genuine and very helpful insights regarding management,….it still misses the mark because it does not identify the real problem, namely the necessity of a new monetary and financial paradigm. Hence it is only reform. Hence it leaves the most underlying problem unresolved. Hence the over 5000 year old monetary and financial paradigm continues to wreak havoc upon economic systems and human civilizations…as we see looming up before us NOW.

If this forum REALLY wanted to live up to its moniker of “New World” it would be focusing ONLY on deciphering a new monetary, financial and hence also economic paradigm.

“It’s the monetary and financial paradigm, stupid.”

Monetary Gifting ends the enslaving “too expensive and inflationary” current paradigm chant into the cost cutting, freeing and beneficial price and asset deflationary new paradigm.