Financial monopoly—> Balanced by the equally powerful and economically valid idea of  Gifting—> Gifting as a policy reflects and aligns with the goals of economic theory and policy which are Balance, Equilibrium and Flow—> Which reflect and align with the pinnacle concept /natural personal experience of Grace whose major characteristics not coincidentally are Balance, Equilibrium and Flow.

Major factor of micro-economics is cost and major factor in macro-economics is aggregation and theoretical and policy relevance—> Aligns with and perfectly reflects where the actual problem can be observed in cost accounting and the integration of micro and macro-economic theory in the only way that such integration can actually take place, and equilibrium can actually be attained and maintained, as in with costless policies—>Aligns with the concept of Grace as in the monetary free and costless gift

The surface level of Double entry bookkeeping and macro-economics are both two dimensional tools (debit-credit) (numerical aggregation and theoretics) trying to describe a three or four dimensional reality. Cost accounting is the subset of double entry bookkeeping which deals with the three and four dimensional realities of micro-economics. The three and four dimensional revelation discoverable in cost accounting is that total individual incomes produced are only a fraction of total costs and since all cost must go into prices by cost accounting convention the rate of flow of total costs/prices will always tend to exceed the rate of flow of individual incomes simultaneously produced. The additional costs initially come from the fact that initial borrowing purchases capital tools and equipment and yet the replacement costs of such capital must also be included in costs/prices, again by cost accounting convention….without any additional outlay of individual income in the normal flow of production with which to liquidate such costs. This is the most basic disequilibrating factor in the economic system. Contemplation of present time reveals copious development, diminishing actual and general ownership, and as a long term trend increasing debt/cost/prices and diminishing individual incomes with which to liquidate debt/costs/prices. Macro-economic policy must reckon with the three and four dimensional realities of cost accounting and micro-economics.

@ Nick Thorne   Yes, certain reforms are probably necessary and Professor Keen has suggested a modern debt jubilee which I am in complete agreement with, mostly because it perfectly reflects what I would say is the actual solution (monetary gifting directly to the individual) to the actual underlying cause of our economic problems (the fact that the system itself, in its normal and unfettered operation is in a state of disequilibrium/is inherently cost/price inflationary because the rate of flow of total costs/prices always tends to exceed the rate of flow of individual incomes simultaneously produced). What I am saying also however, is that what actually needs to occur is a balancing of Finance’s monopoly on credit…specifically in the area of consumer finance/consumption. Balancing Debt/loans as the only vehicle for financing consumption (other than work for pay which due to innovation and artificial intelligence is acceleratingly and disruptively reducing aggregate actually spendable individual incomes as well) with a continuing gift of income…is necessary for stabilizing and freeing both the individual and the system.  Again, I’m all for reform and regulations that address actual economic vices like rent seeking etc., but those are all merely palliative “solutions” unless we transform and balance the system as per above…FIRST.  My motto: Transformation first! Rational and ethical reform right along with it.

The interests of consumers and businesses are intimately and inextricably intertwined. If the consumer always has income readily available to spend on the businessman’s products and services both are happier, more free and more profitable, and the economy flows as gracefully as a great and wide river. But if the consumer does not have money available to spend the entire system shuts down and no one is happy or profitable.

In an economy that is very complex and drawn out costs tend to overlap into proceeding cycles of production. Also, as individual incomes, that is labor costs, are not the only costs which a business must pay in order to be profitable and survive, that means that as a flow through time the total costs will always tend to exceed total individual incomes with which to liquidate every businesses’ prices. In other words all costs must go into price and yet in the normal and unfettered flow of production never are individual incomes generated by businesses sufficient….to liquidate production as it comes to the market. This is not the fault of businesses nor of individuals as both business owners and their employees work long and hard to produce whatever the business intends to produce. The flaw in the system is that despite insufficient individual incomes are being produced…the business model known as Finance only has an interest in producing loans, that is Debt, and will not countenance or allow the needed additional individual income to be GIVEN to individuals….so that the system flows freely and both consumers and businesses are happy, profitable…and FREE.

Now I’m not here to say we should destroy Finance or even condemn it in a broad and general sense….only that they must give up their monopoly control on the type of vehicle for which the individual can receive money/finance…for consumption. If the system itself, and due to no neither the individual or business’s fault does not generate sufficient individual incomes so that an economic equilibrium is possible…it is irrational and dominatingly enslaving for a monopoly to enforce that lack of equilibrium…and the individual austerity and poor business and investment climate that results from that enforced restriction.  Monopoly power cannot be tolerated in a free market economy! There must be an expansion of the types of vehicles for consumer finance so that there is a costless addition to individual incomes and a discount to retail prices so that the economic system is able to attain and maintain free flowingness!

Now what is the solution to this problem, and why? The solution is monetary Gifting directly to the individual, and the reason this is the solution is…a gift to the individual….does not incur an additional cost to either the business (micro-economy) or the system (macro-economy) …that will necessarily be past onto the individual consumer in higher prices…even though consumers as a whole…already do not have sufficient incomes to liquidate production in a free flowing manner. Gifting/ monetary grace the free gift of income is the solution to an inherently disequilibrated system,…and the dominating financial enslavement that finance imposes on the businesses and the individuals that comprise the system.

Consumers and Businessmen Unite! All You Have To Lose Is Your Financially Enforced Chains!

The economy is in an inherent state of disequilibrium, increasingly so since technology has advanced and production has become a multi-stage complex and drawn out process.

Double entry bookkeeping is an essential tool for deciphering profit and loss, but is a two dimensional tool describing a three dimensional universe, and its surface expression of debits and credits that balance and equilibrate belies and obfuscates an underlying disequilibrium found in a subset of the discipline known as cost accounting where the data on individual incomes/labor costs are decipherable as only a fraction of total costs in the moment to moment normal and unfettered operation of the economic/productive system. Thus, as flows, the rate of flow of total costs will always tend to be greater than the rate of flow of total individual incomes. This is the picture of underlying systemic price inflation and hence the most basic cause of the erosion of profit and purchasing power that has bedeviled modern economies and economic theory.

A modern debt jubilee is enlightened because it rapidly resets the economy with as little individual pain and suffering as possible, eliminates the stress of long term economic frustration and hardship and wisely short circuits the historical rhyming of war with economic downturns, especially when today we live in an era of modern weaponry where no one’s life is safe and no one’s productive capacity is safe from destruction. Finally, a debt jubilee is perfectly reflective of the policy solutions that modern technologically advanced economies require, especially in view of the disruptive and accelerating factors of innovation and artificial intelligence is having on aggregate individual incomes. The policy solutions are a universal dividend directly distributed to the individual and a macro-economically derived discount to retail prices that is rebated back to participating merchants and thus eliminates price inflation for everyone while creating a much more robust business and investment climate and also helps both businesses and individuals to ween themselves off excessive finance.

Keynesianism is a palliative of the long term Financial monopoly, is reform rather than ideational/paradigmatic transformation, elitist rather than decentralized control and most importantly allows the financial elite to unethically maintain their control in an unstable system instead of enabling and maintaining stable power and control to be in “the many hands” of individuals with their un-extortable sufficient purchasing power money-vote.

Gifting directly to the individual is the only policy which actually and effectively can fully integrate micro and macro-economic policy because. The dividend does not incur an additional cost to either the individual enterprise or the system that can be passed on to other businesses and so also to consumers, and as the retail discount mechanism is based on the aggregate costs of consumption over the aggregate costs of production for the same period of time it also eliminates inflation for both the individual and the system as well.

A new financial paradigm of Gifting/monetary grace the free gift directly to the individual in the consumer and retail economy is an idea and a policy whose time has come.

Trinity is the experience of mental simultaneity and unity via the integration of two apparent or actual opposing ideas, theories, policies, philosophies, mindsets or temporal universe processes.

Duality is the signature of the temporal universe/Flux/Becomingness/Randomness/Fragmentation/Exclusionary Mindset

Trinity is the signature of Consciousness/Stasis/Beingness/Order/Unity Within Diversity/Inclusive Mindset

Trinity actually includes Duality within its reality and is an integrated unity of its mindset and experience

Somewhere there is probably an elite group of Banking and Financial CEO’s looking at a 3D vector analysis board that includes the Moon or Mars saying, “How can we foot drag, manipulate, dominate and obfuscate this crisis into such a slo-mo train wreck that no one recognizes it and we don’t have to give up power and control of the economy to the rabble, but rather we can set up interplanetary colonies and rule….forever.”  And even though I wouldn’t impute evil and insane motives necessarily to anyone, I would impute them Planning such…and justifying it on some arrogant and elitist moral basis. Power and control are sweet, even sweeter than profit.  But the truly sad thing is such dominators and manipulators have so lost sight of themselves that they miss the fact that they have enslaved themselves right along with “the rabble” they so projectingly disdain. That plus the fact that enabling and guaranteeing everyone to have a relative personal abundance and so actual and functional systemic economic free flowingness would in no way necessarily preclude gigantic wealth and even great power…it’s just that it may be governed (and redeemed) by an ethic of Grace and so transform their Promethean will and intrinsically insecure personal idiocy into mature and caring guidance. The natural experience of Grace, the solution to personal and systemic enslavement.

The Troika are probably sterilizing the blow a Grexit will cause them. That and the smallness of the Greek economy will probably enable them to weather default. That’s what happens when you attempt to lay direct siege to/attempt to reform a dominating force that already commands the high ground. You might win a few battles and still lose the war either by attrition, apathy or Time itself where the enemy’s flaws are eventually remedied over several decades by deleveraging and/or a war that so devastates productive capacity that rebuilding it results in “good times” echoing WW II. Or you could take an idea sufficient to the task of balancing the monopoly idea of Debt and that targets the two most chronic problems of technologically advanced economies, namely insufficient individual incomes and price inflation and transform economies world wide. That idea is consumer gifting/monetary grace the free gift in the form of a universal dividend costlessly solving the scarcity of individual incomes and a macro-economic discount to retail prices that is rebated back to participating merchants that prevents price inflation. A Public Bank could become Social Credit’s NCO (National Credit Office) that is charged with compiling the appropriate statistics that will show what the variable monthly dividend and discount should be, and also oversee and disburse the appropriate amount of new credit that the private banks could lend. That would be a public central bank with real power and that was truly acting in the interests of the individual and the system. After such transformation occurred the restored hope and clarity will make the need for regulation of credit and other economic vices like rent and financialization more obvious to a public that has actually been set free.

Debt is ultimately an idea, and so is monetary grace/consumer gifting as a policy. If the ultimate and moment to moment actual problem of the economic system is that as flows costs exceed individual incomes, then monetary grace/consumer gifting is the only way to stabilize and equilibrate the system. Why? Because a gift of money distributed directly to the individual increases individual incomes…without adding an additional cost to the system that enterprises are then compelled to pass along to the consumer at retail sale where costs are ultimately summed for any product or service. A costless input, a gift is the only policy that penetrates and reaches all the way to the individual, thus freeing both him from his enslavement to the unstable system that oppresses him, and the system itself by transforming it from an unworkable one that erodes profit and savings and that hangs up on a continuing basis to one which is free flowing and ethical in that it serves the individual instead of forcing the individual to serve it despite its onerousness.

Integration/Wisdom is about inclusiveness and affirmation and in that sense addition, gain and abundance, and is equally applicable both materially and psychologically/spiritually. Material gain and psychological/spiritual ascension are the two basic vectors/thrusts of Man. Integrate them and you have the state known as Grace which is Love in action, both loving beingness and becomingness, the transformation of mere and ultimately unsatisfying gain into an affirmation, an abundant inclusion, addition and ascension encompassing, pervading and so redeeming gain. And this integration is what economic theory and policy would be wise to aspire to and to adopt.

“Science is about the real world.” Egmont Kakarot-Handtke

Right. And historically the hallmark of good science and of scientific breakthrough is the integration of the scientific method and an aspect of human consciousness like imagination, or faith as in confidence in order to include (inclusion/inclusiveness are aspects of consciousness as well) something outside of the norm, or looking/willingness to look as in seeing in the present moment, so as to discover something new. In other words newness and nowness as in a new unit of time distinct from past time and thought, that is, not orthodoxy or even heterodoxy that has become orthodoxy.

Economics, and sciences of the hard and soft varieties need integration. And as Wisdom is the integrative process itself and Wisdom is the science and contemplation of the aspects of consciousness…what passes as science today requires integration with consciousness/Wisdom and beyond that even (and specifically for economics) it requires integration with and contemplation of the pinnacle of Wisdom which is the flow state and in the West is called Grace as in balance, equilibrium and flow which not coincidentally are the goals of economic theory and policy.