The World Today on Keen vs UWS

Flattr this!

I am now in an indus­trial dis­pute with the Uni­ver­sity of West­ern Syd­ney over two mat­ters: a charge of “Seri­ous Mis­con­duct” which they lev­eled at me dur­ing the unsuc­cess­ful cam­paign to stop UWS abol­ish­ing our Eco­nom­ics degree; and their fail­ure to act on my appli­ca­tion for a Vol­un­tary Redun­dancy within the time required by UWS’s Enter­prise Agree­ment.

There will be a hear­ing at the Fair Work Com­mis­sion at 2.30pm at 80 William Street Syd­ney. I would be delighted to see read­ers of this blog there. This fea­ture by Michael Janda on the ABC’s The World Today gives a good overview of the dis­pute.

Steve Keen’s Debt­watch Pod­cast

 

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.
Bookmark the permalink.
  • Bhaskara II

    I’m not sure that a sum of cur­rency stocks val­ued in dol­lars really has the mean­ing your look­ing for.

    Per­haps a sum if indexes show­ing the growth of each coun­tries cur­rency units.

    Some one out there might have thought it through and has a good mea­sure.

  • Bhaskara II

    Cliffy,

    Here is the graph you requested from data on the pre­vi­ously linked page, and on the graph. It is done by fit­ting expo­nen­tial curves for the gold stocks and the global cur­rency stocks. The money stock fluc­tu­ates from the curve by less than +/-20%. So, the dot­ted lines shows where the data given in the plot are within the +/-20% error of the curve.

    The equa­tions are the fit fit to the graphs and, t, is time in years. The end­points of the graph are very close to the equa­tion fit lines.

    If that plot was on log-log it is a strait line. This would be valid if the data given and their cal­cu­la­tion meth­ods are valid.

  • Bhaskara II

    Cliffy,

    Hope­fully this com­ment will allow the graph.

  • Bhaskara II

    Cliffy, Hope­fully graph uploaded.

  • Bhaskara II

    Cliffy, Last try.

    Here are the fit equa­tions if it doesn’t work and you like math.
    It is a para­met­ric plot with the para­me­ter time, t.

    t=1970…2008.25
    c(t)=4(1.09)^(t-2008) Global cur­rency stock in Tril­lions of $ within +/-20%
    g(t)=90(1.0156)^(t-1970) Gold stock in 1,000 Tones
    (x,y)=( g(t), c(t) )
    On Log-Log paper it’s a strait line.
    You could just trans­fer the points on paper from the graphs.

    Fit to data graphs given in link: http://dollardaze.org/blog/?post_id=00555