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?