Talk on macroeconomics to EcoSoc of NSW

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I’m speak­ing at a lunchtime sem­i­nar for the Eco­nom­ic Soci­ety of Aus­tralia NSW Branch on Thurs­day Feb­ru­ary 28th, in the Ground Floor East Sem­i­nar Room of the Reserve Bank of Aus­tralia in 65 Mar­tin Place Syd­ney. The func­tion will start with light refresh­ments at 12.15pm, with a 12.30pm start; it will fin­ish between 1.15pm and 1.30pm.

My top­ic is “Explain­ing the Cri­sis Using Pri­vate Debt and Aggre­gate Demand” (see the abstract below). It’s free for mem­bers; if you’re not one, I expect that you would have to join the soci­ety to be able to attend. If you’d like to attend, send an email to

Abstract: In this paper I prove that the ex-post iden­ti­ty of aggre­gate demand and aggre­gate income is con­sis­tent with ex-ante demand exceed­ing income. I then show that the empir­i­cal strength of this approach as expla­na­tion not only for the glob­al eco­nom­ic cri­sis but for the “Great Mod­er­a­tion” which pre­ced­ed it, and dis­cuss its impli­ca­tions for the impact of the bud­get sur­plus fetish on future eco­nom­ic growth.

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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.