Should governments run surpluses?

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My talk at the “ ‘Eco­nom­ics With Jus­tice” sem­i­nar series at the The School of Eco­nom­ic Sci­ence in Man­dev­ille Place, Lon­don. I cov­er where the argu­ment for aus­ter­i­ty came from, a thought exper­i­ment about what will hap­pen when a gov­ern­ment runs a sus­tained sur­plus, and a mod­el show­ing what hap­pens when the gov­ern­ment does run a sur­plus.

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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.