Creating and distributing money has always been the route to economic good times and during wars, winning them. Even deeper and more important than that historical fact is awakening to the deepest and longest unresolved economic problem which is the monopolistic monetary paradigm that new money can only be created and distributed as debt, i.e. Debt Only…which the banks wield and the government foolishly affirms. We need to make that fact as conscious as we possibly can, and resolve it by strategically and intelligently integrating the new monetary paradigm of Gifting into the Debt Only system. MMTers are actually late comers to the fact that new money is crerated by accounting entries. C. H. Douglas of the Social Credit movement between the world wars recognized this long before them. Douglas was a very clear minded individual, but like virtually everyone he was still a victim of acculturated false orthodoxies like the classical economic idea of general equillibrium which wed to the monopoly monetary paradigm prevents one from considering the single policy that would be a paradigm change all by itself, namely a 50% Discount (credit to the consumer) at retail sale/Full Rebate (debit to the back to the merchant). This policy mathematically doubles everyone’s purchasing power while implementing beneficial price and asset deflation…because retail sale is the terminal ending point of the entire economic process where production exits the economy and becomes consumption and (my own new macro-economic insight) EVERYONE participates in retail sale so its the single aggregative as in macro-economic point in the entire economic process…and so the perfect place to implement monetary policy. Secure the new monetary paradigm’s benefits by 1) taxing greedflation and any other bogus “increase” in costs at a rate of 100%, 2) index the retail discount/rebate to any legitimate inflationary cost increases 3) regulate with the additional policies in my book “Wisdomics-Gracenomics: The New Monetary Paradigm and It Policies” that rebutt orthodox critiques and resolve the other anomalies of the current paradigm.
Where is MMT on this?
MMT is a good reform bucking the same civilization-long moral and intellectual acculturation around the concept of debt. However, they need to up their game to paradigmatic analysis because reforms are always palliatives with half lives of decades or less and new paradigms are deep and permanent systemic-wide changes. The simplicity of new key applied ideas have always been where the power actually is. That may be an affront to the intellectual vanities of the erudite, but its historical fact.
The best way to explain a new concept is to find the places and ways to implement it in the world that the individual can easily experience for themselves. Thats what the 50% Discount/Rebate at retail sale and 50% Gift of Interest/Debt jubilee at point of loan signing does in spades because everyone participates in retail sale and increasingly in things like mortgages.
If you’re for free profit-making markets you can’t be for a monopoly paradigm wielded by a single business model and delusionally acquiest in by the government. If you do you’d have to say that The Reformation was wrong for breaking up the monopoly paradigm the Roman Catholic church had on salvation via its sacraments ONLY.
The issue that the general populace cares about is inflation. Hence, end inflation forever by implementing the two 50% price reduction and debt jubilee policies I suggest at retail sale and point of loan signing, and tax any increase in final costs that is a fraud at a rate of 100%…and proceed to a liberal progressive political coalition greater than The New Deal.
Integrating a new monetary paradigm of Gifting into the debt, as in burden to pay/repay Only system, makes keeping Social Security flush much easier. Why? Because what is the payment/retail point for your social security insurance? Thats right, the payroll tax that comes out of your wages. With the 50% Discount/Rebate policy that amount is reduced by…50%, thus saving you money.
The combination of the 50% retail discount and another policy that aligns with the new monetary paradigm, i.e. a UBI/universal dividend of say $1000/mo. enables us to not only half the individual cost of social security they also make welfare and unemployment insurance completely redundant…because if every adult gets a $1000 monthly dividend that with the 50% retail discount policy means they have $2000/mo. worth of purchasing power…so then the payroll taxes for these services, that both employees and emplyers pay, can be eliminated.
Just another example of how a monetary mega-paradigm change integrates the self interests of traditionally opposed constituencies.
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Thats because you’re not doing the simple math of equal debits and credits that sum to zero at the strategic points I suggest is done. $100 worth of groceries minus 50% is $50 and yet with the rebate the merchant gets their full price. $100 worth of social security insurance premium minus $50 with the 50% discount means you get an extra $50 net income on your paycheck and yet $100 goes to fund social security.
Here’s another mind blowing truth that the new monetary paradigm enlightens: Accounting/double entry bookkeeping with its equal debits and credits that sum to zero operation is actually reflective of the quantum reality where particles pop in and out of existence.
I’m the one trying to actually resolve problems and explode delusions with a paradigm change instead of offering up palliative reforms like MMT. And Rube Goldberg describes the current system that is actually just a double bind in disguise overseen by Finance and The FED’s ham handed monetary policies that punish way too much, way to long and from which only the wealthy oligarchs and the banks emerge unscathed.
THE SOLUTION IS ALL ABOUT A NEW MONETARY PARADIGM!
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No, its algebra, i.e. -5 + 5= 0, and accounting equal debits and credits that sum to zero, and a new macro-economic/aggregative insight that EVERYONE participates in/is the effect of price at retail sale and so it is the perfect place to implement monetary policy, and last but not least its paradigmology which is my own new body of knowledge whose primary insights are 1) historically every new paradigm is in complete conceptual opposition to the current anomalous paradigm concept, which incidentally also makes it harder for people to perceive because the acculturation process is largely an unconscious accepting process for the mass of individuals, and in the modern age of science which highly values logic its an additional hurdle for intellects to wrap their heads around, and 2) the mental and temporal universe effects of every historical paradigm change have always been an aspect or aspects of the natural philosophical concept of grace.
Social Credit/Wisdomics/Gracenomics/ Gracientialism 