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.
In the otherwise forgettable movie Cocktail, when Tom Cruise’s character Brian Flanagan abruptly splits with his date Bonnie, she pleads with him not to let their relationship end badly. He replies “everything ends badly: otherwise it wouldn’t end.”
The turmoil in foreign exchange markets caused by Switzerland’s abrupt ending of its Euro peg may be such a bad moment for the Euro—and it comes figuratively moments before another likely bad moment, the elections in Greece on January 25th that will in all likelihood bring the anti-austerity party Syriza to power. Will the Euro, like Flanagan’s relationship in Cocktail, end badly—and abruptly—soon?
The British election campaign has begun, and Prime Minister David Cameron is running with the slogan that his Conservative Party will deliver “A Britain living within its means” by running a surplus on day-to-day government spending by 2017/18. It is, as the UK Telegraph noted, hardly an inspiring slogan. But it is one that resonates with voters, because it sounds like the way they would like to manage their own households. And a household budget—whether you balance yours or not—is something we can all understand. If a household spends less than it earns, it can save money, or pay down its debt, or both. So it has to be good if a country does the same thing, right?
Some months ago, Jesse Columbo approached me about writing an online column for Forbes Magazine. That seemed a better fit for me than the Australian-oriented Business Spectator, where I have been blogging for the last few years, so I decided to make the move. I’ll soon post my first column at this location. I’ll follow the same approach with this blog as before, which is to post a teaser to a story here and then link through to the Forbes article. I’ll also continue to post videos and interviews directly here, as I do now.
Permanent link to this post
(94 words, estimated 23 secs reading time)
I’m now doing a regular spot with Simon Rose on Share Radio, a new internet radio station dedicated to economic and financial issues.
Simon Rose, Share Radio’s evening host.
To listen to our latest conversation–covering Greece, austerity, and why running a sustained government surplus is a great way to cause a future economic crisis, click on the play button below.
Permanent link to this post
(110 words, 2 images, estimated 26 secs reading time)
I gave talks to students in Berlin and Hamburg last week at the invitation of of Rethinking Economics groups at Berlin Free University and the University of Hamburg. Both groups asked me to cover some of the critiques of mainstream economics that I provide in Debunking Economics, as well as covering the monetary approach to Post Keynesian economics that has been the focus of most of my more recent public lectures.
Bravo to Les Editions de l’Atelier, the publishers of L’Imposture Economique (the French translation of Debunking Economics), who have achieved the seemingly impossible: L’Imposture Economique entered the Top Ten out of all books on Amazon France yesterday (December 4th 2014). It was the top-selling non-fiction book, outranking even Piketty’s Capital (as I write, L’Imposture is #12 in books while Capital is #53).
I don’t expect it to last at that ranking, but I didn’t expect it to achieve that position in the first place, so it feels great to see it there. Congratulations again to Les Editions de l’Atelier, and to Gael Giraud who took the initiative in arranging its translation into French.
The Guardian’s senior economics commentator Aditya Chakrabortty has produced an excellent BBC Radio 4 program on the failure of academic economics to reform itself after the Crash of 2007: Teaching Economics After the Crash. The first interview is with Kingston University’s own Devrim Yilmaz. It also includes me, George Soros, Andy Haldane, Ha-Joon Chang, the students who began the Post Crash Economics Society at Manchester University, Diane Coyle (who played a large role in developing the CORE curriculum, of which I’m very critical), Philip Mirowski (who describes CORE as “lipstick on a pig”), Rob Johnson of INET, and many more. It’s well worth a listen (it opens with about 20 seconds of a promo for a later program on a paralympian):
Students at Kingston University kicked off a campaign for a new approach to economics with the successful launch of new society Rethinking Economics Kingston this week.
Almost 100 people squeezed in to hear Professor Steve Keen – newly appointed head of the School of Economics, Politics and History – launch the new society with a speech on what’s wrong with mainstream economics and how students should change it.
Professor Keen — author of Debunking Economics and well-known critic of mainstream economics – described how theories taught in most economic classes were unable to predict, understand or even take on board the recent financial crisis.