Reverance, the non-sectarian response to everything.

Could not agree with your analysis of neo-classicalism more, and your identification of credit being the biggest source of inflation is equally spot on. The only thing I would point out is that the concept behind credit is DEBT as in burden to repay and because banks create the overwhelming amount of new money every year they wield the monopoly paradigm of DEBT ONLY…and that is the heart, the core problem to be resolved. Then, as new paradigms are always in complete conceptual opposition to the present paradigm, that makes the new monetary/financial paradigm concept MONETARY GIFTING. Strategically apply Monetary Gifting and you’ll find you can not only end inflation but implement beneficial deflation and also implement many other economic and even psychological benefits. Reforms are good. Paradigm changes are permanently progressive historical events.

…is the 50% Discount/Rebate Policy at Retail Sale, New Monetary Paradigm and Its Full Policy Program.

In other words bringing the experiences of Wisdom/Trinity/Paradigm Change (the various aspects of the natural philosophical concept of grace as in love in action, and as policies are the actions of systems…systemic policy), thirdness greater oneness, resolution, key applicable new realization, creative destruction of present orthodoxies, Nowness and Newness/Process/Time/Quadrinity…into the single universally experienced/participated in activity and point in the entire economic process AND in the temporal universe, that is retail sale.

And its accomplished with the largely unperceived trinity of accounting, i.e. equal 1) debits and 2) credits that sum to 3) zero…that private Finance utilizes to create upwards of 97% of all new money every year but MONOPOLISTICALLY ONLY AS DEBT…but in this case is its conceptual opposite, that is Monetary Gifting.

MMT is a great reform, but it misses the fact that “free” market theoretics is a fetishized misnomer for destabilizing domination by Finance and its monopoly paradigm for the creation and distribution of new money AKA Debt ONLY.

It also misses the temporal universe fact that retail sale is the single universally participated in/thus aggregative as in macro-economic point in the entire economic process and hence it is the perfect place to implement monetary policy with a 50% Discount/Rebate which simultaneously doubles everyone’s purchasing policy while transforming chronic erosive inflation into beneficial price and asset deflation. New conceptual realities, inversion of temporal universe realities and the destruction of long held orthodoxies are all primary signatures of historical paradigm changes. MMT: good palliative. Strategic Monetary Gifting: paradigm change.

This very real and imminent possibility and the emergent/immediate effects of AI on employment is precisely why we REQUIRE the new monetary paradigm of GIFTING at the point of universal participation (retail sale) with a 50% Discount/Rebate policy and a universal dividend of a security level…otherwise there will be millions dying on both the left and the right and violent revolution from those who are barely surviving. Finance/the banking system must yield its monopoly paradigm of Debt ONLY for the creation and distribution of all new money and enable the integration of Monetary Gifting effectively into the Debt Only system/paradigm. Banks will still be able to create new money with debt, but there will finally be a secure thirdness/synthesis and hence resolution of the key problem which is a signature of historical paradigm changes.

I don’t disagree with prof Sachs’ assessment of past dominance by the west. However, I don’t think he has recognized the deepest reason that dominance occured and how to fix it. That reason/problem is the human civilization-long monopoly monetary paradigm concept for the creation and distribution of all NEW money which is Debt ONLY. The word ONLY designates that paradigm as a monopoly concept. Paradigm concepts are deeply unconscious acculturated and hence generally unperceived realities. The short course in paradigmology is the following: 1) New paradigms are always in complete conceptual opposition to the present anomalous paradigm 2) The benefits of all historical paradigm changes have always been an aspect or aspects of the natural philosophical (not necessarily religious) concept of grace like abundance, resolution of problems, greater survival and thriving, a new conscious awareness of a tool, system, body of knowledge or area of human endeavor. The new monetary and economic paradigm is Monetary Gifting (complete conceptual opposition to Debt ONLY as in the burden to repay) and Gifting/A Gift is an aspect of grace. To see the entire thought behind the new monetary paradigm and its policies you can visit my blog here: wisdomicsblog.com and my book here: https://www.amazon.com/Wisdomics-Gracenomics-New-Monetary-Paradigm-Policies-ebook/dp/B0C49B9PX7/ref=tmm_kin_swatch_0?_encoding=UTF8&qid=1552358772&sr=1-1-catcorr

Central bank accounting line in Ravel: 50% Credit to consumer at retail sale by merchant…Rebate same amount back to the merchant by central bank. Voila! Monetary and economic paradigm change because inflation is transformed into beneficial deflation, everyone gets a 100% increase in purchasing power, even the banks get 50% of everyone’s monthly mortgage payment gifted to them, and last but not least participating in the economy, which everyone does at retail sale, becomes the greatest opportunity for anyone with two brain cells to consciously self actualize gratitude which is a transformative personal experience, for the 50% gift of price.

The craving for self certainty. Learn to get comfortable with ambiguity and a multitude of differences, options and solutions can present themselves.

“Free” market theoretics is actually Finance dominated chaos/absence of known and enforcable barriers. The reality of ethics (the rational contemplation of morals/dualities) is the deeper often unperceived or even denied law especially by economists and economic pundits.