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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  • 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.…

  • 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.