Interview with Lelde Smits on Finance News Network

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I was interviewed by Lelde Smits for the Finance News Network on my recent trip back to Sydney. Below is the beginning of the transcript; you can read the rest by clicking on this link. Or click below to watch the interview with Lelde.

Transcript of Finance News Network interview with Kingston University Head of Economics, Politics and History, Dr Steve Keen

Lelde Smits: Hello, I’m Lelde Smits for the Finance News Network and joining me from London’s Kingston University is Head of Economics, Politics and History, Dr Steve Keen. Steve, welcome back to Sydney and to FNN.

Steve Keen: Lovely to be here again.

Lelde Smits: 2014 has just wound up. What is your assessment of the global economy’s performance?

Steve Keen: Well it’s a classic Parson’s Egg. You know parts of it were excellent but the parts of it that were excellent were quite tiny, basically being America and England both going through a form of revival after the global financial crisis. So I think you can certainly say that those two Anglo-Saxon nations are out of the global financial crisis, whatever is going to come along will be a new experience, not a continuation of the old one.

But Europe is trapped in a total quagmire, and China’s growth which has been slowing down, of course it has to slow down because it simply can’t grow at that rate indefinitely, that slowdown is starting to worry people about what is going to be the engine of growth in the global economy. If I had to use one word to describe the economy, it’s fragile. And that’s where the egg analogy comes in as well, what’s going to crack the egg?

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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2 Responses to Interview with Lelde Smits on Finance News Network

  1. andrea3322 says:

    Mr Keen, Hello! Big fan! i have posted a video bellow, Discussions over Greece must leave the Eurozone? German Economist says they must stay! Would love your 2 cents worth…

    http://www.aljazeera.com/programmes/countingthecost/2015/01/should-greece-leave-eurozone-2015117112035623515.html

    What is this man saying? More importantly why? Germany Probably cant wait to see the ass end of Greece.. So why the facade? Thoughts….

  2. Steve Keen says:

    Too long for me to spare the time to watch, but my bottom line has always been that the Euro without a European treasury was a bad idea, made worse by the Maastricht Treaty. People are looking for a peaceful and costless way to remove the mistakes, but that’s like trying to turn a bad marriage into a good one. Ditto wanting a cost-free exit, which is like a cost-free divorce.

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