Steve Keen's Global Financial Crisis Debtwatch

Why credit money fails

I’ve giv­en sev­er­al talks on this gen­er­al top­ic recently–at the ASSA (Acad­e­my of Social Sci­ences of Aus­tralia) annu­al sym­po­sium “Fam­i­ly for­tunes in the after­math of the glob­al finan­cial cri­sis”, The Gold Sym­po­sium, the Aus­tralian Investors’ Asso­ci­a­tionBulls vs Bears” Sym­po­sium, and final­ly at the Local Future 2010 Con­fer­ence on Sus­tain­abil­i­ty: Ener­gy, Econ­o­my & Envi­ron­ment in Grand Rapids, Michi­gan.

I was giv­en one and a half hours to present at the Local Future event, which gave me the oppor­tu­ni­ty to present a com­pre­hen­sive treat­ment of the dynam­ics of cred­it mon­ey and the “Glob­al Finan­cial Cri­sis” (to use the Aus­tralian moniker for it) or “Great Reces­sion” (as econ­o­mists in the US refer to it). At the oth­er talks, I had to skip over sub­stan­tial parts of my argu­ment to fit with­in short­er time slots.