Present analysts have all of the problems of the economy accurately and scientifically identified. However, what they need to do is “up their game” from scientific to paradigmatic analysis. Doing this is counter intuitive because scientific/reductionist analysis has become an anomalous paradigm for intellectual inquiry while paradigmatic analysis is integrative and wholistic. Hence the key to paradigmatic analysis is simplicity, not complexity which makes it difficult for most analysts to see and understand.
Paradigms are SINGLE core and operant concepts that applied change ENTIRE patterns/systems/bodies of knowledge and areas of human endeavor…and mega-paradigm changes like the new monetary paradigm will enable benefits in many other areas than the specific one under analysis, that is the economy. This is due to the fact that the present monetary paradigm has become so well integrated into the minds and institutions of humanity for so long (the entire course of human civilization) that its anomalies have so many negative effects on nearly every aspect of our lives.
The key to understanding all of this is to discover the fact that historically every new paradigm’s effects has always been an aspect or aspects of the natural philosophical concept of grace. Grace as in love in action is the pinnacle concept of human Wisdom which is also the superlative mental discipline because science is a wholly included set of Wisdom. This is why I titled my book Wisdomics-Gracenomics, and it (the natural philosophical concept of grace) is also the emergent new zeitgeist.
If exporters raise their prices an equivalent tarrif is leveled on that rate of inflation and redistributed to the importing business…if the importer does not raise their prices.
Re-industrialization is enabled by the reduced costs (50% of price, greatly reduced individual and commercial income and payroll taxes.
SOS: I’m part of an informal study group in Indianapolis, comprised of retired lawyers, doctors, economists, civil servants etc. We’re raising money on GoFundMe to send a copy of The Deficit Myth to every member of the U.S. House and Senate. This will cost about $11,000. Here’s a link to the GoFundMe page: https://www.gofundme.com/manage/2b8g4-send-the-deficit-myth-to-congress. Any contribution to this effort would be greatly appreciated! Please help us spread the word! Thank you!
Me: Good luck with that. However, I would put to you that the bottom line with virtually all politicians is: What is going to get me re-elected. And reading a book that even though it is true, is abstract, not easily understood and doesn’t directly, immediately and obviously impact their personal self interest…is not going to move them.
Conversely, a 50% gifted discount to the price of virtully everything a person buys which means that it doubles their purchasing power, transforms erosive inflation into beneficial price and asset deflation and if you’re a business person potentially doubles the demand for all of your goods and services…is a total winner for almost everyone…which makes it an election winning issue THAT BOTH SIDES OF THE AISLE WILL NOT BE ABLE TO RESIST. IN OTHER WORDS ITS POLITICALLY INTEGRATIVE.
JP: Yeah & while *Biden’s policies may have been good for the ‘economy’ – share prices, Wall Street et al – it certainly hasn’t been felt in the ‘real economy’ of everyday americans’ day-to-day lives. That’s why there’s a glaring disconnect between what those “analysts” on CNN/MSNBC are saying : “Why aren’t people happy? The economy is growing. Americans just love to complain” and the struggle to survive people are actually experiencing in the real world.
*i don’t think anyone really believes Biden is capable of running a bath let alone the economy. Calling it “Bidenomics” is so disingenuous it’s perverse.
Me: I really do understand your cynicism and disgust at half assed “changes”. All the more to ACT/ADVOCATE for REAL change as in the policies and regulations of the new monetary paradigm of Gifting strategically applied throughout the entire economic process.
JP: Yes i agree, but the Oligarchal Corporatocracy Duopoly parties are unable & unwilling to reform or change anything within a system designed by them, for them and to which they are the gatekeepers. Before any substantive, meaningful reform can even be attempted the entire ‘2 Party’ electoral system must first be reformed. Again though, the Duopoly will be wholly resistant to anything which puts their hegemony at risk. These changes cannot happen via electoralism. The demand must come from the bottom up, a mass movement demanding change. Power concedes nothing without demands and it will never come from the top down. Every single piece of advancement and progress for the working class has been forced upon the ruling elites from below, with mass movements like the Civil Rghts in the 50s & 60s, the Unions in the ‘30s, Women’s liberation in the 70’s, the list goes on.
Me: The 2 party system lays down difficult barriers to third parties, but they are overcomable. The problem is that virtually all third party candidates…are simply tweaks of the present two parties. The key is having a policy program that is truly a thirdness greater oneness that conceptually expresses and implements the new paradigm…and that is exactly what my 50% Discount/Rebate policy (and the rest of its program) is. It is a deeper, more direct, more universally experienced and immediate change than Social Security was and has become and hence is a “third rail” once its implemented. So lets have the 50% Discount/Rebate At Retail Sale Party right along with the New Monetary, Financial and Economic Paradigm Mass Social Movement as well.
I’d be happy as hell to have an exegesis of the new paradigm’s entire policy program with Stephanie, Steve Keen, Michael Hudson, but I can’t get them to respond to me on their various sites. Ann Pettifor at least responds positively to me on her Substack. All I want is synthesis/thirdness/real change.
It’s intellectual model/mindset of reductionism has become a monopoly paradigm and thus neglects/refuses to utilize the superlative integrative intellectual discipline AKA Wisdom.
I see this all the time in posting Wisdom/solutions to problems on various sites. The responses I get are either rejection of integration or simply to bring up another problem without even considering looking at trying to integrate the truths in opposites in order to find a thirdness greater oneness of truths, workabi;ities, applicabilities and highest ethical considerations…which is the result of utilizing Wisdom.
Reject Science Only in favor of Wisdom. It is the true route to scientific breakthrough and progress.
The problem is that economics and virtually all other systems only utilize scientific/reductive analysis when they should be using the integrative method AKA Wisdom.
I’ve said this a hundred times on this forum. Its basic and the only reason it isn’t obvious to everyone that this is the way to research is that science has become a virtual monopoly paradigm for intellectual inquiry. Science is good, wonderful and delicious…and it exists entirely within the digestive tract of Wisdom.
The increase in fiscal money supply has minimal impact on inflation. Increase in private and corporate debt eventually has an inflationary effect until it causes debt deflation because debt is the only/monopolistic way to get newly created money. All of the orthodoxies of economics and money can be intelligently and strategically exploded by policies that accomplish monetary gifting. Throw off the human civilization long ideas you’ve aquired and think anew.
Demand inflation is not only eliminated, but transformed into beneficial deflation (mind blowingly to the orthodox) by a policy of a 50% Discount/Rebate at the strategic point of retail sale and a rock solidly enforced opt in pledge not to arbitrarily inflate. Regulating a monopoly paradigm with either palliative policies or doing nothing in the name of “free” market theory when the reality is that the monetary paradigm enforces alternately goose and strangled financial chaos becomes egg on your face…so think anew please.
Debt itself is not the problem. It’s the monopolistic paradigm concept of Debt ONLY as the sole form and vehicle for the creation and distribution of new money and Debt ONLY as in the burden to repay that compels Debt’s inevitable build up and overwhelm of the system. As all new paradigm concepts have historically always been in complete conceptual opposition to the present paradigm that means the new paradigm concept is Gifting. Reciprocal Gifting at retail sale with a 50% discount/rebate will end inflation forever for everyone hence gaining the allegiance of the general populace and every enterprise except the problematic one (private finance) and thus enabling the political break through necessary to implement the entirety of the new paradigm’s policies.
Facilitate change, problem resolution (even those problems that appear to be aggravated by
monetary gifting like the need for de-growth, resource depletion and ecological sanity) and Wisdom which is always a mental and temporal thirdness greater oneness integration of opposites.
Ann, I’m in complete agreement with your fears and your recognition of the primary area of the problem (finance and financialization). Please understand, my only problem with yourself and the other leading edge researchers like Keen, Hudson, MMTers and Ellen Brown is that your excellent, accurate and important work…still puts the cart before the horse in that, paradoxically, simplicity is the key to not only systemic change, but paradigm change in that paradigms are (Caps are for emphasis not yelling) SINGLE OPERANT APPLIED CONCEPTS that change the realities of ENTIRE complexities/patterns. Again, deciphering the complexities of the problematic area is great and necessary also, BUT, being fully conscious of the new IDEA guides, focuses and enables one to philosophically align and apply policy in the operant area in the most operant way.
New applied, operant ideas resolve problems because they’re the core of the core deepest problem. They are helio-centrism instead of geo-centrism, and Monetary Gifting integrated into the monopolistic Debt Only present paradigm.
Identifying Monetary Grace as in Gifting as the operant idea also enables one to apply it to resolve the other thorny aspects of finance/the economy like the Greedy Rule of Profit and Speculation in a way that enables such but resolves their present toxic effects. It enables a thirdness greater integrative oneness (think Thesis, Antithesis, Synthesis) that is the signature of Wisdom.
The key is understanding that paradigms are single concepts, that applied, change everything in entire system/pattern under analysis. System’s analysis is largely about finding problems which of course is good, but paradigm perception is recognizing THE RESOLVING applied concept. It’s the proper starting and guiding point. Its the difference between knowing data and completely understanding both its mental and temporal realities as well as how to resolve the system’s problems. It’s Wisdom, the true integrative third way past the conundrum of Duality, Scientific Reductionism and Unconscious Orthodoxy Only which is a hurdle instead of the proper tool. Wisdom resolves and progresses everything including religious and paradigmatic orthodoxy. Let us embrace Wisdom.
LC: I look forward to reading your book Ann which I know will be well researched and referenced.
Yet, if we talk about dismantling Wall Street, surely you have to persuade those working there to work with you so they can dismantle their operations and rebuild their usefulness in the service of remedying the ecocide challenges, such as described in Barbados?
Cooperation with the banking sector to put them in service to our planet ‘for the benefit of all living things’ could be their mantra.
Me: Your motto is good, but I would suggest finding economic policies that strongly and directly benefit virtually everyone not directly in control of private finance…just in case private finance isn’t willing to cooperate with the effort. The 50% Discount/Rebate policy at retail sale is one such policy because it is the very expression of the new paradigm of Direct and Reciprocal Monetary Gifting and it directly benefits everyone because everyone participates in retail sale…even Banking CEOs and their employees come to think of it…by doubling their purchasing power, ending inflation for them and potentially doubling demand for every enterprise’s goods and services. Such a policy with its universality of effect and integration of traditionally opposed self interests could result in what Marx expected, namely a revolt of the bourgeosie against Finance.
Let us embrace Wisdom and Wisdom’s pinnacle concept the natural philosophical concept of grace as in love in personal action, and as policies are the actions of systems, systemic policy.
I affirm anyone’s research and policy ideas so long as they represent and accomplish alignment with the new monetary, financial and economic paradigm of Gifting, the concept behind every historical new paradigm and the pinnacle concept of Wisdom, namely grace.
Ideas are basic and new paradigm concepts/paradigm changes are the most integrative, beneficial and powerful human phenomena humanity can experience. Start at the actual starting line…conceptual/paradigmatic analysis, and with the simple tool of logic and the beatific chains of the necessary human consideration known as ethics…you can thread the needle of resolution with any problem.
AP: Got it Steve…But those ideas have to be written about and shared…no?
Me: Yes of course, I’m in no way opposed to research and education. Wisdom/the integrative intellectual impulse and process after all does not thrive without a full knowledge of the subject at hand. My plea is actually only that along with the education we recognize that an activist, awakening and ethically resolving thirdness should be our conscious goal and intention.
I just finished reading the last discussion between you, Michael Hudson and Radhika Desai on Michael’s site and along with the factual content it was delightful to see the intellectual interplay of agreements, disagreements and consensus that took place between you three. Thats Hegel’s trinity unity oneness dialectic in practice.
I also agree with you that fascism is a lingering problem for China and every major power because fascism is power with distorted or even the absence of ethics. The trinity of thought, action and humane ethics has been a neglected problem since we consciously emerged from the mere “ethic” of Survival Only by eating the fruit of the tree of the knowledge of good and evil. And the solution to the problematic dualism of good and evil is the trinity of good, evil and ethics as the rational consideration of morals.
LC: Is ‘everyone’ those who live in the US and in a position to participate in retail?
Me: Any country that has a currency…which is virtually every one of them.
Money and accounting, the latter of which is the means of approximately 97% of money’s creation by private banking and shadow banks, are among the greatest tools/inventions of humanity. Steve Keen taught me that. But he didn’t come up with the monetary paradigm changing policy of a 50% Discount/Rebate policy at retail sale, I did. Actually, a guy by the name of Clifford Hugh Douglas did back between the two world wars, but I innovated it from just an attempt to counter inflation into making it perform one of the signatures of historical paradigm changes which is the complete inversion of a problematic temporal universe reality into a beneficial one. That is changing chronic erosive inflation into beneficial price and asset deflation where you can now buy a $400k house for $200k and with my 50% debt jubilee policy at the point of loan signing you end up financing only $100k. With the equal and reciprocal debits and credits tool of accounting all merchants get their full price and the long neglected individual consumer benefits instead of gets stung.
I admire Steve Keen for his advocacy of “a modern debt jubilee”, but maybe because he hasn’t cognited on the fact that the effects of every historical paradigm change have always been an aspect or aspects of the natural philosophical concept of grace, like continual process and flow for instance, he didn’t think to integrate continuous debt jubilee into the economic process with such a policy. The benefits of conceptual/whole system/paradigmatic analysis as opposed to only reductionism make all the difference in the pace and quality of change.
Nice posts Linda. And don’t forget that the only reason the US economy didn’t totally tank (not sure of the policies used by the UK) was the series of stimulus checks, i.e. monetary gifting that got distributed to those who lost their jobs.
What are fiscal deficits? Revenue Gifting to government contractors and employees. UBI? Direct monetary gifts to the individual. Debt jubilees? Monetary Gifting to reduce indebtedness. 50% discounts at retail sale? Monetary Gifting. Hint, hint, hint.
LC: How would this work if people need shelter, food, safety after suffering a devastating climate event? Is it a top down accounting arrangement? Are there obstacles to accessing funds if you have lost your ID proof as a result of the disaster? If you have no insurance due to living in a high risk area, are you excluded from funds?
Me: Every merchant with two brain cells would register with the FED or other monetary authority to opt into the rebate aspect of the policy so that they got their full price after discounting their price to the consumer by 50%. They would have to pledge not to inflate their prices in order to qualify for the rebate. If they broke their pledge any revenue they garnered from such inflation would be taxed at a rate of 100% and if they continued to inflate they’d lose their rebate privileges altogether which means they’d have to get 100% of their price from the consumer which would mean they’d basically go out of business because their competitors who abided by the gracious rules of the new paradigm would only have to get 50% of their price from consumers. Every business gets an account at the central bank which could quickly be accomplished and commerce proceeds as usual except every individual and commercial agent benefits wildly…except finance of course, but then they ARE the problem afterall.
We live in possibly end game times. There is no time for experimenting. Whatever the solution it has to be perfect first time. I have not seen any proposed plan that would rescue people from impossible situations of crippling national and personal debt; or routes to escape the increasing perils caused by climate change and conflict.
Me: We do live in perilous times, but one must adhere to a motto expressed by Antonio Gramscii of “Pessimism of the intellect, optimism of the will.” Grace is love in action. This is why any new economics must be aligned with grace. There is no perfection in life only gamble and adventure, but the best possible way to personally live life and insure our systems are as ethical and robust as possible is by self-actualizing/implementing policies that align with, the aspects of grace all of which are the integrative thirdnesses of Wisdom.
Its chock full of accurate historical insight and all it needs is to become fully conscious of the natural philosophical and ethical concept of grace which is:
the new applied monetary concept/paradigm and
also, the new zeitgeist/ethic of the age/next evolutionary progressive phenomenon for the human species.
Philosophy, the love of ideas and their ethical consideration is the king of human intellectual disciplines (science is the queen) and is synonymous with Wisdom. Grace/graciousness is philosophy’s/Wisdom’s pinnacle concept, humanity’s highest experience, and its philosophical aspects are the key effects of every historical paradigm change and, again, the concept of the new ethic of the age.
For instance the present zeitgeist, which has been in effect since humanity ate from the tree of the knowledge of good and evil/emerged from the rest of the animal kingdom is Power, Profit and Control. The new zeitgeist is Redemptive (aspect of grace) Power, Profit and Control.
The world must embrace the beatific chains of the concept/experience of grace.
Private Finance Capitalism basically has to go and be replaced by a profit-making economic system that encourages innovation, competition and actual ethics as opposed to the mere economic ethic of profit (which of course includes profit).
As the very intellectual process of integrating opposites in order to find thirdness greater onenesses of truth and workability AKA Wisdom, the only way to do this is to formulate a Wisdomics-Gracenomics by first recognizing the core of the core problem (the current monopolistic paradigm of private finance AKA Debt Only) and integrating its opposite concept Monetary Gifting strategically into the economic process.
Social Credit/Wisdomics/Gracenomics/ Gracientialism 