December 2017
« Mar    

Recent Posts

Steve Keen on Schumpeter, Minsky and Endogenous Money

Steve Keen on Schumpeter, Minsky and Endogenous Money. A great audio talk here by Steve Keen, recently given in New Zealand (in Wellington on 10th September, 2012, if I am not mistaken), on debt deflation , Schumpeter … [...]

Steve Keen on Hyman Minsky – Social Democracy for the 21st Century

Steve Keen on Hyman Minsky . Steve Keen is interviewed in a “From Alpha to Omega” podcast I have posted below, in which the conversation includes the idea of a debt jubilee and Hyman Minsky's work. The interview begins … [...]

Understanding Economics featuring Dr. Steve Keen – Part 2 of 4

Why didn’t economists predict the global financial crisis? Because they couldn’t, but Dr. Steve Keen did. He won the Revere Award for most clearly and accurately predicting the global recession. In this second of four segments, Dr. Keen discusses how he learned about debt deflation [...]

Steve Keen on Minsky – Social Democracy for the 21st Century

Steve Keen on Minsky . Steve Keen is interviewed below on Capital Account, and speaks on a number of issues, including Minsky and debt deflation . The interview begins at [...]

The Binary Trade: Reading the Source, Part 2

And when a lot of people are forced to do it at the same time, the debt- deflation story takes hold. Minsky (channeling Keynes) believes that the problem is in large part due to a system that caters to private investment above all … [...]

Social Democracy for the 21st Century: A Post Keynesian …

Once we consider the dynamics of debt deflation as argued by Steve Keen and Richard Koo, Palley's view of the crisis is an interesting interpretation. Posted by Lord Keynes at 3:35 AM. Labels: financial crisis, Hyman Minsky , [...]

Debunking Economics | The Sizemore Investment Letter

Paying back proves to be remarkably hard. (Note: Though he is a “Post-Keynesian” economist, Keen makes it clear that that countercyclical Keynesian deficit spending is not going to fix an economic plagued by debt deflation . More on that to come.) [...]

Keen Debunking Economics Uni of Buenos Aires 2011

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 [...]

Keen Behavioural Finance 2011 Lecture 11 Global Economic Crisis

The remarkable thing was not that I and a handful of others saw this crisis coming, but that so many neoclassical economists had no idea it was approaching. I explain why they failed to see it (by ignoring private debt and believing in a fantasy of economic equilibrium), discuss the empirical dimensions of this crisis in comparison with the Great Depression, and present my explicitly monetary macroeconomic [...]

Debt deflation-On the Edge with Max Keiser-07-08-2011 In this edition of On the Edge, Max Keiser interviews Steve Keen, economist and author of the book Debunking Economics. He says that debts have spiraled out of control and the reason is shadow banking system. [...]