End of Enti­tle­ment & Sack the Econ­o­mists talks

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I’m speak­ing at two events this week­end:

North­side Forum: “THE AGE OF ENTITLEMENT IS OVER” So claims our Trea­surer, but for whom?:

Sat­ur­day May 3rd, 12-2pm, Func­tion Room at the Union Hotel, North Syd­ney, 271 Pacific Hwy, North Syd­ney 2060

The launch of Geoff Davies’ book Sack the Econ­o­mists:

Sun­day, 4th May 2014, 3:30 for 4 pm, Glee­books, 49 Glebe Point Road, Glebe NSW

Fol­low the links above to book a place.




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.
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  • ken

    I sus­pect the age of enti­tle­ment is over for any­one who can’t deliver enough votes for the price.

  • Harry

    Encour­ag­ing to see Geoff davies talks about using “sys­tems ideas” in his book. I look for­ward to read­ing what he means.
    But the ele­phant in the room seems to be the para­dox of the mod­ern mon­e­tary econ­omy — money and debt. Money makes the world go round, spurs growth, makes every­body feel rich (appar­ently). Debt on the other hand (even­tu­ally) grinds the econ­omy to a halt, causes peri­odic reces­sions, requires painful de-lever­ag­ing, leads to defla­tion, and makes every­body feel bad. 

    So what do we do? 

    Cre­ate money and debt hand in hand! What a bril­liant solu­tion. All money is cre­ated as debt. You can’t have more money with­out more debt. You can’t have less debt with­out destroy­ing money. Is it any won­der we have a see-saw? First boom, then bust. First infla­tion, then defla­tion. Equi­lib­rium? Sure, IF you’re really really good at tightrope walk­ing. Which gov­ern­ments, trea­sur­ers, and cen­tral bank chiefs, appar­ently, are not.
    What a dumb sys­tem. Are we seri­ous about try­ing to design an eco­nomic sys­tem, or are we going to just bum­ble along in the dark, let­ting the sys­tem be defined by the his­tor­i­cal mis­takes we have made?
    I agree. Sack the econ­o­mists. Hire some engi­neers. At least they are prag­ma­tists, with an ingrained habit of learn­ing from mis­takes. Bridges don’t fall down nearly as often as they once did, but we still have pretty reg­u­lar eco­nomic crises.

  • Steve Hum­mel

    So what do we do?”

    Bal­ance the con­sumer finan­cial par­a­digm of debt/loan only (not the com­mer­cial finan­cial one) …with mon­e­tary gift­ing.