Economics has met the enemy, and it is economics

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That is the title of a fea­ture in the Cana­di­an news­pa­per The Globe and Mail that a cor­re­spon­dent has just brought to my atten­tion. It’s not an earth-shat­ter­ing arti­cle, as my cor­re­spon­dent observed, but it is remark­able to see arti­cles like this turn­ing up in the main­stream media. The author Tra Basen observes at one point:

While the pro­test­ers occu­py­ing Wall Street are not car­ry­ing signs denounc­ing ratio­nal-expec­ta­tions and effi­cient-mar­ket mod­el­ling, per­haps they should be.

Eco­nom­ics has met the ene­my, and it is eco­nom­ics

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About Steve Keen

I am Professor of Economics and Head of Economics, History and Politics at Kingston University London, and a long time critic of conventional economic thought. As well as attacking mainstream thought in Debunking Economics, I am also developing an alternative dynamic approach to economic modelling. The key issue I am tackling here is the prospect for a debt-deflation on the back of the enormous private debts accumulated globally, and our very low rate of inflation.