I had hoped to post this on the day of my presentation to UMKC, but the site fell over that day and it has taken volunteers several days to sort out the problems. I had to buy additional storage space on the server, and large system logs had to be deleted. These are some of the issues that have motivated the development of Debunking Economics as a subscription site: with professional staff support, this problem would never have occurred; without them, and with me being too busy to do the work myself, it’s resulted in the site being down for about 4 days.
That said, finally I can put these three presentations up on the blog.
Reconciling MMT & MCT with DEB
In this presentation I prove that sectoral balances and aggregate (or effective) demand exceeding income are fully compatible.
The Keen model with Government–comparing deficit spending and austerity
Matheus Grasselli, Professor of Mathematics at McMaster University and Deputy Director of the Fields Institute, explains my 1995 Minsky model and extensions to it that enable different government policies–austerity versus deficit spending–to be evaluated.
A live demonstration of building both a physical and a monetary model of the economy in Minsky. The first release version of the program is now available for download.
I recommend watching this video in full screen mode, since the design palette in Minsky is very hard to read at the small scale of a 640×480 window.