About Steve Keen

I am a professional economist 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 debts accumulated in Australia, and our very low rate of inflation.

Assistance for Minsky required

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To any­one out there with deep pockets–or to lots of peo­ple with shal­lower ones–I need finan­cial assis­tance for the Min­sky pro­gram. I have been wait­ing for fund­ing from a source that I’ll reveal once it finally comes through, but it has now been delayed for over six months from when it was first mooted to arrive. If I am lucky, it will come through in January–another 4 months away.

Making sense of Scotland the Brazen

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Scot­land voted 55:45 to remain in the UK, but the very fact that the vote was even close was a seri­ous shock to the polit­i­cal estab­lish­ment in Europe. UK Prime Min­is­ter David Cameron had orig­i­nally allowed only a Yes or No vote on full inde­pen­dence in the ref­er­en­dum, rather than a three-option poll includ­ing the “Maybe” of a greater devo­lu­tion of power from White­hall to Edin­burgh, in the belief that the No vote would be so resound­ing that it would ter­mi­nate the inde­pen­dence move­ment per­ma­nently. The Maybe, he believed, might well have got across the line, when in gen­eral he and the Tories didn’t want to cede any power north of Hadrian’s Wall.

Forthcoming Talks

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I have a ridicu­lously large num­ber of pub­lic talks com­ing up this month. It all starts on Wednes­day Sep­tem­ber 10th, and doesn’t let up until Sun­day Sep­tem­ber 21st—the day before Induc­tion Week begins at Kingston Uni­ver­sity, where I am now Head of Eco­nom­ics, Pol­i­tics and His­tory, and com­mit­ted to mak­ing Kingston the world’s lead­ing cen­tre for plu­ral­ist edu­ca­tion and research in eco­nom­ics. Check the links below if you’re able to make any of these talks in, in order: Sheffield; New York; Glas­gow; Kingston; and Tub­in­gen, Ger­many. I’ll cover talks in Octo­ber in a sub­se­quent post.

How To Un-Marry a Millionaire

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I’m read­ing and enjoy­ing some “chick-lit” at the moment–or as a reviewer on Ama­zon called it, “the per­fect blend of chick-lit and bitch-lit”–entitled “How To Un-Marry a Mil­lion­aire”.


Per­sonal dis­clo­sure time: the book is the first novel by my good friend, script-writer and film pro­ducer Bil­lie Mor­ton. I’ve been mean­ing to read it for a while now, and it’s cur­rently sup­ply­ing wel­come relief from the tedium of read­ing ECB min­utes as I draft my next Busi­ness Spec­ta­tor column.

Short term lecturer position at Kingston University

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Please cir­cu­late widely – the dead­line for appli­ca­tions is 22 Sep­tem­ber! A short term lec­tur­ing posi­tion has just been adver­tised at Kingston Uni­ver­sity, where I am now Head of Eco­nom­ics, Pol­i­tics and His­tory. This is a fixed-term post to 30 June 2015. Though the period is brief, it is an oppor­tu­nity to work in our very heterodox-friendly department.

Time for a Copernican revolution in economics

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The global finan­cial cri­sis took the vast major­ity of the eco­nom­ics pro­fes­sion by sur­prise. Though there were indi­vid­ual main­stream econ­o­mists — such as Robert Shiller and Joseph Stiglitz — who claim to have warned of the cri­sis, no main­stream eco­nomic model fore­saw any­thing like what even­tu­ated in 2007. In fact, main­stream model pre­dic­tions led to politi­cians being advised to expect tran­quil eco­nomic con­di­tions ahead. The OECD’s advice in its June 2007 Eco­nomic Out­look was typical: