This lecture explains why neoclassical DSGE models are inherently incapable of modeling the macroeconomy, outlines my model of Minsky’s “Financial Instability Hypothesis, and shows how to build a basic model of a credit economy using QED. It concludes with a lengthy Q&A session where the questions are mainly in Spanish, since this lecture was given at the University of Buenos [...]
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This seminar led to George Monbiot’s Guardian feature (www.guardian.co.uk As well as outlining my critique of Neoclassical macroeconomics, I explain my credit-based analysis. The discussion at the end about the role of aggregate debt is enlightening in that it shows how most economists can’t comprehend that the aggregate level of debt [...] |
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Economics: Inflation, Deflation, Stagflation, etc
www.mindbites.com for full video. For a full video Economics course, you’ll want to click through to www.mindbites.com Also be sure to check out www.mindbites.com for other video lessons on Economics topics and [...]