Michael Hudson’s research is valid and with exposing the failure to renew economies with debt jubilees is coming closer to consciously identifying the new monetary paradigm concept that will finish neo-liberal economics forever. My book Wisdomics-Gracenomics: The Policies of the New Monetary Paradigm both identifies that new concept and shows how it can be most efficaciously implemented into the economic process. Even more, it identifies the natural philosophical concept behind every historical paradigm change. I would be happy to discuss it with you. Please contact me at the email address provided.

Christianity got morphed into a mere pre-scientific religion instead of becoming a true Wisdom Tradition and paradigm changing awakening to the natural philosophical concept of grace as in love in personal action/systemic policy which if fully cognited on is able to result in breakthrough integrations with all of the following: 1) religion and spirituality, 2) science and spirituality as grace is the scientific description of temporal universe reality (the dynamic nature of the electro-magnetic milieu and the quantum foam), 3) a true paradigmatic breakthrough in economics as grace is the underlying concept expressed in every historical paradigm change and 4) as economics in general and retail sale in particular is continually participated in and experienced by everyone and the way that people self actualize their reality is by repetition, it opens up the possibility of the greatest self actualization of grace as in love in action since…forever. So be it.

This geo-political analysis is accurate, but it fails to account for the most underlying and longest reigning factor in geo-strategy, namely the current monetary paradigm of Debt Only as the sole form and vehicle for the creation and distribution of new money.

Love is what changes the world, but money is what makes it go ’round. Integrate those two seeming opposites into the economic and geo-strategic formula and the result will be a “golden age”.

China already has a more intelligent take on indebtedness which makes them much more nimble than the US which is caught in advanced anomalous Finance Capitalism, but they will fall prey to the same imperial imperatives of the present paradigm if they don’t realize the importance of implementing the new one.

All of the current leading economic reform movements have surrounded the problematic area summed up by Steve Keen when he says the problem with neo-classical macro is that it ignores” money, debt and banks”. But reforms are the “filthy rags” of analysis. Only recognition and application of a new paradigm actually changes things…because it changes both the human mind and the temporal universe at the same time.

Historically, everything adapts to a new paradigm…not the other way around. If the US doesn’t awaken to the new monetary paradigm it will inevitably increasingly decline. If the Chinese awaken to it they will hasten the West’s decline and force it to adopt the new paradigm. If the West awakens to the new paradigm first, China will have to completely awaken to it also, instead of simply using it as an effective economic and geo-strategic tool and reform. Why? Because with the new monetary paradigm the West will be able to re-industrialize in the most technologically efficient and ecologically sane way possible which will severely down size China’s export platform dominance thus forcing it to adopt the same deepening domestic benefits of the new paradigm that will extricate the West from its capture by the current paradigm.

The new monetary paradigm is Gifting and its fleshing out is in the book Wisdomics-Gracenomics: The New Monetary Paradigm and Its Policies. Google it.

A monetary gift of 50% of the price of virtually everything at retail sale all of which is reciprocally rebated back to the merchant giving it performs the thirdness greater oneness of a synthesis that is the integrative, transformative resolution of problems signature of wisdom.

Economists have missed the monetary significance of this policy at this particular point in the ecnomic process. This is partly because paradigms being long acculturated concepts/realities they are mostly unconscious. They’re a lot like breathing, we’re normally unaware of it and yet when we can’t breath its importance immediately presents itself. It’s also because economists in their perfectly legitimate pursuit of truth via calculus and reductive analysis often become so abstracted from direct observation that they miss important and even operant factors discerned by way of direct observation of the economic process itself.

On a scale of epistemology/ways of knowing, thinkingness/abstractingness is rather low while lookingness is just below the highest level AKA Conceptual and Temporal Knowingness. This is why obsessive thinking can actually be a pathological state while direct looking leads to deeper understanding. This is also why zen buddhist novitiates gaze at walls in order to better and more fully experience the present moment, its realities and solutions to problems that reductive and mere dualistic analysis fails to discern and resolve.

For godsake, in a time of increasing economic and monetary instability, let us utilize the complete toolset for intellectual analysis. Science and Wisdom do not have to be considered in opposition. Their synthesis is the route to the thirdness greater oneness that resolves problems and is the signature of the pinnacle concept, experience and observable temporal universe reality AKA grace.

New paradigm concepts are essentially wisdom insights because they are both deep simplicities. The universally agreed upon superlative spiritual value and experience of all of the world’s major wisdom traditions is love and the active form of love is graciousness. Thus the title of my book, Wisdomics-Gracenomics. The effects of every historical paradigm change can be verified as an aspect or aspects of the natural philosophical concept of grace. Imagine an economy and money system of grace as in gifting, thankfulness/gratitude, universal abundance, continual free flowingness and hence faith as in confidence in the future.

Debt jubilee for housing applies to primary residence and second/vacation home only. It reduces to 10% after that. It is unlimited for big ticket purchases that make ecological sense.

Inflation could be mathematically and macro-economically resigned to the dust bin of history with a 50% Discount/Rebate policy at the point of retail sale. No need to do all the calculus that makes people’s eyes glaze over because universal participation in retail sale guarantees macro-economic effect. Just do the simple math. Ending inflation for ever by implementing BENEFICIAL price and asset deflation (inversion of problematic temporal universe reality and thinking in terms of complete conceptual opposition to the present paradigm are cardinal signatures of paradigm change…think geo-centrism and helio-centrism for instance) is a solution not a palliative.

Debt jubilee is an excellent idea, but why make it just a one-off which gives a little relief and then wait another 10+ years for Finance to come up with some loopy scheme for re-enslaving us and then have to fight the pols they stuff millions in campaign funds to again, again and again? No, integrate debt jubilee directly and continuously into the economic process with a policy of a 25-50% debt jubilee at the point of loan signing. Think solution, not just palliative reform. Think mass socio-economic and political movement instead of trying to convince ego involved “authorities” and then bitching that things “change one funeral at a time”. New paradigms always being universally beneficial phenomena sell themselves. Yeah, yeah, yeah, humans not being an entirely rational or ethical species you’ll need some additional regulations and tax incentives and dis-incentices etc., but why not go for the gusto with paradigmatic analysis and paradigm changing policies instead of reform? You’ve got a platform, use it and expand it. Just don’t forget to cite me.

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Paradigms being long acculturated concepts are mostly unconscious. Reformists like yourself, Michael Hudson, David Graeber, Warren Mosler/MMTers and Ellen Brown have completely surrounded the area of the the present paradigm (money, debt and banks), but not being completely conscious of the necessary and exact new paradigm concept you’ve not been able to visualize its benefits and most strategic points of implementation. For instance your insight that “economists can get their PhD in economics without ever having to take an elementary course in accounting” and that banks create money with accounting entries is spot on, but you fail to follow through with that insight by mimicing/applying that same accounting process with a 50% gift of price at retail sale all of which is rebated back to the merchant by the monetary authority…and hence it breaks up Finance’s monopoly paradigm for the creation and distribution of new money, namely Debt ONLY (the word Only designates it as a monopoly paradigm concept). As retail sale is universally experienced and participated in a monetary policy using reciprocal accounting entries there would have immediate and macro-economic effect. The benefits of this single policy are 1) the end of inflation and the beginning of beneficial price and asset deflation, 2) a redressing of the lost purchasing power the middle class has endured since the 1970’s because it would immediately double everyone’s ability to purchase, 3) the integration of the self interests of the consumer and commercial agents because there is now a potential doubling of demand for every enterprise’s goods and services which is the definition of good economic times and last but not least 5) as inflation would forever end it opens up the ability to run the kind of fiscal deficits necessary to fund the mega-projects necessary to confront climate change and research alternative sources of energy. Repeating the accounting process at the point of loan signing with a 25-50% debt jubilee policy further benefits everyone and further breaks up Finance’s monopoly concept of Debt Only.

As you can see becoming completely conscious of a new paradigm better enables its visualization and application.

A 50% Debt Jubilee/10% rebate of the final amount created at point of loan signing. That way the Banks can pocket 10% of the loan amount as income on their balance sheet. For instance a $400k house is reduced to $200k at retail sale, the consumer is granted a 50% debt jubilee at point of loan signing making the total $100k of which the bank receives $10k of income to go immediately onto their balance sheet as income.

Banking will be strictly regulated forbidding virtually all derivative products and allowing speculation only on new tangibly productive pursuits. Neither will currency speculation be allowed, and any breaking of the rules of the new concept behind the new paradigm (the natural philosophical concept of grace) will be immediately quashed. The end of the rule of Finance begins with the new paradigm.

And that is why equal debits and credits of monetary gifting at the points of retail sale and the point of loan signing are so powerful.

Accounting applied to basics like equal debits and credits summing to zero at retail sale which is the end of the economic system’s cycle, wed to the moral and ethical general good of the natural philosophical concept of grace as in Gifting,which is the pinnacle concept of Wisdom can lead to paradigm change. That’s the way its always been and this time is no different.

Conversely, the monopoly paradigm concept of Debt Only accountingly enforced by the private banking system regarding the creation and distribution of new money enforces its monopolistic economic realities on EVERYONE.

The policies of Wisdomics-Gracenomics break up the present problematic monopoly paradigm and open up the benefits of the mega-paradigm change AKA Monetary Gifting .

One must have 2 years of at least part time employment in the first 5 years or their dividend will be reduced by $500/mo.

After 5 years of receiving the dividend, if one does not choose to find part time employment one’s 0% required investment of gifted purchasing power becomes 50%.

Guaranteed income is security. That and employment is abundance. Add attentiveness and/or purpose and you have the ingredients of happiness, and if you contemplate love and its active expression graciousness you’ll experience wisdom.