Edinburgh University Talk: financial instability, endogenous money & government budgets

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This talk cov­ers all “the usu­al sus­pects” for me–the Neo­clas­si­cal obses­sion with equi­lib­ri­um, finan­cial insta­bil­i­ty, the Loan­able Funds myth and the real­i­ty of Endoge­nous Mon­ey, and the fool­ish­ness of gov­ern­ments try­ing to run a sur­plus as if they are house­holds, when the bet­ter anal­o­gy is that they are banks and should run deficits to cre­ate part of the mon­ey sup­ply the non-bank pri­vate sec­tor needs.

Click here to down­load the Pow­er­point file (Min­sky files are embed­ded in it and can also be extract­ed and saved to your PC, if you’d like to play with them).

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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.