The Economy of Abundance #1: a proposal to replace financial economics
Copyright 2012, John Manimas Medeiros
What is the Economy of Abundance?
1) The greatest error in modern economics, an act of blatant psychological denial, is the failure to make the observation that the industrial revolution has succeeded. The second greatest error in modern economics is a financial fantasy: the belief that inventors, investors and entrepreneurs, or businesses and commercial banks, create only wealth, when in fact it is not possible to create only wealth because any act that creates wealth also creates its relative, poverty.
2) The two most destructive false principles of modern western financial economics are:
A) A worker is a person in the business of selling his or her labor;
B) Monetary policies, or the science of money and finance, is economics.
3) There is an excellent reason why Karl Marx referred to his work as "political economy;" it is that economics is always political. Politics and economics are demonstrated by history and anthropology to be inseparable.
4) Real economics is the set of decisions made to direct how the "big household" of the
family, clan, tribe, city, state or nation shall operate. The real economy is inherent in the social structure and rules for transactions between individuals and groups, as well as how the physical needs of the household (community of any size) shall be met and how the work of the community and the wealth of the community shall be shared or distributed.
5) The Economy of Abundance is seriously offered as an explanation of why modern economic science, including Keynesian economics, needs to be discarded and replaced with a deeper examination of the real relationships in human society after the task of producing enough of every necessity has been achieved (aka post-industrial), and, society's labor requirements are substantially diminished.
John Manimas Medeiros, November 2011 ---> EOA#1 January 2012. SEE YOU NEXT MONTH!
Look at your wallet, my friend, or your pocket book. It's in there! You pay for everything. YOU PAY EVERYTHING!
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