"This isn't done because Neoclassical economists are paid shrills or apologists for capitalism". Really Steve?

I have long believed that it is so intuitively obvious- even to the layman- that economic crises are caused by debt sucking the juice out of the economy of real goods and services that there is no other explanation for the behaviour of mainstream economists. 90% spin-doctor, 10% bad scholarship.

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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.

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