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Roving Cavaliers of Credit
Read Some Minsky
Monetary Profits Paradox
Are We "It" Yet?
Monetary Multisectoral Model
"No-one saw this coming"?
Why the Crisis is not over
Deleveraging with a twist
Bernanke doesn't understand the Great Depression
The Case Against Bernanke
Rescuing the Bubble
Australian house prices
Competition No Panacea
House Prices & Banks I
House Prices & Banks II
Lectures on Endogenous Money
Debt and Australian housing
BBC HARDtalk Interview
INET Interview on why I saw "It" coming
Inquiry into competition within the Australian banking sector
Submission by Associate Professor Steve Keen, School of Economics & Finance, University of Western Sydney; www.debtdeflation.com/blogs
The Australian Senate’s Standing Committee on Economics has established an inquiry into competition in the banking sector, and I was invited by the Committee to make a submission. Click here for the …
You might be able to tell from the subject that this is not my usual debt-oriented post. Instead, it’s sheer frustration with malfunctioning computer technology. I don’t know whether the cause is the Dell Studio 17 itself, or Windows 7, but I have just endured over a dozen “Blue Screen of Death” crashes since …
I’ve given several talks on this general topic recently–at the ASSA (Academy of Social Sciences of Australia) annual symposium “Family fortunes in the aftermath of the global financial crisis”, The Gold Symposium, the Australian Investors’ Association “Bulls vs Bears” Symposium, and finally at the Local Future 2010 Conference on Sustainability: Energy, Economy & Environment …
I’ve just completed second year of my subject Behavioural Finance at the University of Western Sydney. This is of course a non-traditional subject–meaning non-Efficient-Markets-Hypothesis–but even here I take a non-standard approach. While I have great respect for the work of Kahneman and Tversky on behavioural economics, I argue that much of the subsequent work …
As usual, I’ll be putting an argument that is contrary to popular opinion on the need for more competition I the banking sector. So to clarify the issue, here’s a quick poll: who thinks that Australia doesn’t have enough debt?
Nobody? OK, now let’s discuss the “need” for more competition in the banking sector.
The raging …
The Economics E-Journal
The Economics E-Journal is a relatively new journal that implements several new approaches to academic publishing:
It is open access and free. Most academic journals are restricted to subscribers or those with access to academic libraries that subscribe, which excludes the general public from access to intellectual endeavour.
Anyone paper submitted to the journal …
Competition is the Vitamin C of conventional economic theory: there’s no economic problem that can’t be solved by a dose of more competition.
As you might expect, I’m less than convinced by this “one cure fits all” approach to economic policy. Competition in banking led to a “race to the bottom” in lending standards–both to …
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