Wisdom is the best and most ethical inner understanding and outward ability to apply such understanding, and Grace is the pinnacle of Wisdom. The anatomy, composition and definition of Grace is a complete integration of Space, Time and Consciousness/Self Awareness. Economics and any human system is a composite of Space, Time and human individuals who are to one level or another conscious and self aware. Hence Grace and the full composition of any human system perfectly reflect and are conceptually aligned with each other. Hence the concept of Grace is the best, most ethical, most integrated and hence most Wise and so equally applicable Idea to both human systems and to individual human beings as well.

The Powell Memo was an essay written by former Supreme Court Justice Powell before he actually became a Justice which asserted that what business interests needed was a grass roots movement to get their agenda passed in Congress. The memo became famous as the catalyst for the accomplishment of that agenda.

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Debt is a powerful force and an equally powerful paradigm. Debt is burden and, within an actually free and stable monetary and economic equilibrium, a responsibility to re-pay as well. Without the latter however, it is enforced austerity and enslavement.

If the economy/the commercial and productive system itself is inherently and continually in a state of excess costs/prices in ratio to actually available individual incomes, the fact of which is decipherable by examining the various datums in the cost accounting books of any enterprise and then doing the calculus of that ubiquitous and continuous flow and reality,…yet allows only for the idea/paradigm of Debt, then the paradigm of Monetary Grace/Gifting…is economically necessary and in fact the only paradigm of equal force and power to balance Debt and all other costs…and thus to balance and equilibrate the system as well.

The additional powers that the paradigm of Grace has, over and above the powers of Debt, are its powers to encompass, interpenetrate, redeem and transform. No necessary religious statement is this, simply a linguistic and with some contemplation a psychological statement of reality. Better the economically balancing, all encompassing, systemic interpenetration, redemption and transformation of a new consumer financial paradigm of Grace the free monetary gift in addition tothe commercial paradigm of Debt, and consequently individual economic freedom on earth, than servitude to an unworkable paradigm of Debt only in an economic system disequilibrated by a moment to moment, i.e. continual scarcity of actually available total individual incomes with which we must but are unable to moment to moment/continually liquidate  total consumer prices.

Thus the promulgation of this new paradigm of monetary Grace/Gifting in the forms of a universal Dividend and a rebated retail Discount needs to begin. Critique of the present system is a part of this, but even more so is the presentation of the Confidence and Hope evoking “good news” of the new paradigm. Playing on the home field of the old paradigm in some respects reinforces that very paradigm that must be countered/balanced and transformed.

We now play only on the coalescingly monopolistic paradigmatic field of Debt. Hence we are always the visiting team which does not know where all of the dips in the outfield are that we can trip over or the ball can take a funny hop in. Thus we are doomed to lose more often than to win, and in fact in the long and broad view…we never actually do win. That is the deeper reality that is becoming the more apparent one with the cost inflationary nature of commerce putting continual pressure on the necessity to add to the already gigantic mountain of debt that has piled up. Then factor in technological innovation and AI increasingly eroding aggregate demand as well….and disaster is inevitable. The home team of Bankers and financiers rules us, and those who would not balance their monopoly with a new and additional paradigm of monetary Gifting and its economically valid policies of a universal dividend and a discount to retail prices are in fact insisting that we serve them.

Jim,

I obviously have much to agree with what Joe Bangiovanni has to say, most especially regarding the stupidity and wrongheadedness of austerity, the necessity of awakening politicians, economists and most importantly the general populace to that same wrongheadedness and particularly his belief that a guaranteed income is a necessary aspect of monetary reform. However, his (and Marc Gauvin’s) continuing belief in the validity of the velocity of money actually adding purchasing power to the system is mistaken and here is why. The classic example of the velocity of money has a man giving a hotelier (a business and businessman) $30 dollars for a room and then the hotelier taking that money to the baker (also a business and a businessman) and spending it and then the baker spending the $30 at the Butcher (business/businessman) who then pays off the hotelier for the $30 room he paid for his escort :)…well maybe I’ve altered the story a bit. Anyway, what Gauvin and Bangiovanni have missed is that the $30 the hotelier received…was business revenue and NOT individual income that he was commercially and legally free to claim and use as individual income. And of course the same is true for each of the merchants in that line of purchases. So what actually is the result of each of these merchants misusing their business revenue as individual income is that (assuming they all work on a 5% net profit margin) they have spent $30 of revenue…without paying a cent of the $28.50 they must come up with…in order to pay their loans and other overheads and thus successfully stay in business. That also means that in order to make his 5% profit (the businessman’s actual individual income) each of those businessmen is going to have to come up with $28.50 (19 times $1.50) of business revenue…before he can commercially and legally begin to claim a cent of actual income again. Business revenue cannot and does not escape the costing system of commerce and individual incomes are not increased by even a cent by however many times money changes hands. The only way incomes are increased is through borrowing as the money system is endogenous, or to a small degree and percentage the deficit spending of governments…but even that deficit Keynesian stimulus is only circulated into the economy which, considering the additional costs of commerce over and above initial finance costs, like the costs of replacing capital equipment and facilities, waste, normal business costs like insurance etc. incidental and unforeseen costs and finally labor costs which of course are always only a subset of total costs …means that individual incomes are woefully inadequate to liquidate total costs…and then considering the cost accounting convention that all costs must go into price is always enforced…the rate of flow of total consumer prices will thus always tend to exceed the rate of flow of total individual incomes with which to liquidate those prices….and that is the most basic reason why (there are other reasons as well) the economy is almost always in a radical state of monetary disequilibrium. And that is also why we must have a new and additional monetary paradigm of DIRECT to the consumer Gifting…so that the economy is actually able to be stably equilibrated. Nearly every economist and most monetary reformers are completely unconscious of this costing/expensing system of commerce and its monetary effects.

Listening on in your interview regarding the Guardian article…it is an excellent litany describing the ways in which humans attempt to free themselves from the onerousness of the system. My wife is from Romania where they made an art of surviving in the austerity of socialist realities and this is how nations survive the austerity of Finance capitalism however bleakly, even with such underground economies. But why must we settle for such piecemeal and halting measures…when we already have the exquisitely utilitarian tool of money to remedy the scarcity of total individual incomes in ratio to total costs/prices…if we will only cognite on the new monetary paradigm of consumer Gifting….which is the solution coalescing in the minds of all those piecemeal attempts to deal with the current onerous unbalanced and unopposed monetary paradigm of Debt ONLY.

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Correction. The businessman will have to come up with $570 (20 X $28.50) in business revenue before he gets back to even let alone actual business profitability. So the difficulties of staying “a going concern” are even greater.

And bingo! I just heard you guys mentioning C. H. Douglas and the new monetary paradigm. Excellent.

One quibble with his description of the total problem..it isn’t just P + I > P its Total costs > Total Individual Incomes which is an even bigger problem because there are other costs than merely interest. Plus you have to factor in the diminutions to individual incomes as well like Rent and the extractions/pooling of incomes via Financialization, so the problem is even worse than P + I > P

The fallacy of the velocity of money is that it actually adds any individual income to the system. However, the relevance and applicability of increasing the velocity of money is that it is a sign of economic health and free flowingness due to liquidity for paying overhead charges. The effect of a universal dividend would be to add individual income to the system outside of the current unbalanced and restrictive financial paradigm of Debt only, and the the effect of the retail discount would be increased velocity of money because both more profits and increased likelihood of profitability would translate into less need for the additional costs of finance meaning less money prematurely leaving the system via principle and interest cancellation on its inevitable path back to the Banks. It would also undoubtedly mean more employment than currently will be produced simply because the business climate will be so much more stable and positive for investment, and even given the increasing elimination of human input/employment due to innovation and artificial intelligence would still increase velocity over simply letting innovation and artificial intelligence “have their way” in reducing velocity is a prescription for monetary and economic disaster.

An integration is a combination and data, philosophical and/or experiential expansion, inclusion and/or ascension of only truth(s) and only workabilities/applicabilities.  It is not a compromise, and actually better satisfies and better holds together than does a compromise which generally includes untruth(s) and unworkabilities/unapplicabilities and even intolerabilities. For instance, trying to force the unworkability of non-profitability on business entities via either socialist governmental ownership of the means of production or increasingly re-distributive taxation of profits…especially when the macro-economic reality of a scarcity of individual incomes with which to liquidate production is also necessarily and correctly considered…is a prescription for failure and increasing levels of revolt by both the populace and the business community. Likewise trying to force the unworkability of systemically inherent inadequate individual incomes with which to liquidate production with a monopolistic financial paradigm of Debt only is no less a prescription for the same failure and revolt. This is why only the truth(s)  and workabilities of capitalism (dynamism and efficient allocation of costs) and socialism (economic democracy) can be integrated and only with the policies of a costless gift of individual incomes/universal dividend and a systemically equating and inflation eliminating retail discount.

Wisdom is the most complete and ethical analysis of, and guide for, both self development and systemic application. Hence, whatever its particular subject and analysis it is the best formula for both inward experience and outward policy.

Wisdom is an integrated Duality within a Trinity which is Simultaneously and separetely a Unity and an Alignment of Concepts, Experiences, Forces and/or Physical Realities.

Personal Grace is the ultimate Wisdom and experiential integration and Trinity of

[ (Space X Time) X Self Awareness ]

Now this is not to be latched onto by the terminally religious nor the terminally scientistic…because both of these dualistic perspectives (science and religion) are validated by the formula as well as their integration which is the equally valid and unitary thirdness/Trinity of Self Awareness/Consciousness.

[ (Science, Religion)  X  Self Awareness/Consciousness ]

In turn this formulaic analysis is also a unitary alignment of mental concepts-perspectives and human experience, and is also equally and fully applicable to temporal systems-physical realities of any kind as well. Hence it is fulfills the definition for Wisdom as being completely relevant for both personal self development and outward application.

Integration must be understood as the combinations of only the truth(s) of an actual and apparently opposed Duality, and not a compromise which is a conglomeration of both truth(s) and untruth(s) that is generally an unsatisfactory condition that will inevitably lead to the return to a mental and/or physical conflict which of course is the signature of Duality. A true integration enables and/or results in an expansion of data, understanding and/or experience which is simultaneously a Thirdness/Trinity and a oneness/wholeness whether that Trinity/Unity is separately either mental or physical/temporal/systemic, and again, as Bothness-Duality and Alignment-Unity are equally and validly characteristic of Wisdom/Grace/Trinity there is also an integrated unity of both the mental and the physical as well.

Integration is the process of Wisdom itself and its (Wisdom’s) enablement and creation-cause.

Wisdom requires an open minded, receptive mental stance. This is why good science is not orthodox or rigid, and why the signature of scientific breakthrough is an integration of the scientific method and an aspect(s) of human self awareness/Consciousness.

https://rwer.wordpress.com/2015/07/24/i-agree/#comment-96823

I’ve been peppering Steve Keen’s youtube videos with Social Credit ideas for some time now (Keen is probably the foremost economist on the planet IMO) and posting the same ideas on the Google group of best selling Web of Debt author Ellen Brown whose Public Banking Idea I have been attempting to show to her fits importantly and seamlessly within a Social Credit economy. Well, Brown has recently said she has had an epiphany about the the importance of grace as in the free monetary gift, and Keen just now has decided to follow me on twitter after I responded with the following to one of his tweets about overcoming the culture of debt:

Both of these luminaries are on the verge of recognizing the truthfulness and importance of Social Credit, and I am right at the nexus of their minds and of their lines of social communication. Wish me and the nation the luck that they continue to awaken and that my writings will also soon be recognized not only as part of the stimulus for that awakening, but also as the insights which point directly at the new and rapidly actualizing paradigm of monetary grace the free gift that will balance the monopoly paradigm of Debt ONLY.

Thanks Wally. Yes, and even though it may continue to be in “fits and starts” I sense an uptick in interest and comprehension of the necessity of integrating monetary grace/gifting into the current paradigm of Debt only.  Witness Carl Herman’s posting of your article. Also, after peppering Steve Keen’s recent youtube videos with Social Credit ideas for the last month or so, just about 30 minutes ago I replied to this tweet by him: “Do we really need to live a life in debt? http://www.smh.com.au/money/borrowing/do-we-really-need-to-live-a-life-in-debt-20150716-gidp0v.html … Bravo Marcus. We need to end debt culture or it will end us.”