Post Tagged with: "Steve Keen"
Economics in the Age of Deleveraging
Clearly, economic policy is now far more complex than it appeared to be before the GFC. As we enter this Age of Deleveraging, the worst thing we can do is apply policies that appeared to work during the preceding Age of Leverage—but were in fact predicated on ever-rising private sector indebtedness. Politicians should be sceptical of conventional economic advice at this time; it would be much wiser to study the history of the 1930s instead
Steve Keen on HARDtalk on the financial crisis and the economy
This time it’s Steve Keen on the hotseat on HARDtalk. Now, Steve is one of the few economists who actually predicted the global financial crisis. But what about the possibility of another Great Depression? That possibility and how to avoid it were the topics of conversation in this 25-minute interview. Great stuff
Andy Xie: Europe’s is a money distribution problem
Europe has an enormous productive capacity, Greece included. Debt introduces a money distribution problem that becomes a flashpoint during periods of economic weakness because the inability of large debtors to pay imperils both the debtor, the creditor and everyone whose income is derived from those sources. If the debtors are large enough as in the sovereign debt crisis in the euro zone, you get a systemic crisis that often leads to depression.
The European sovereign debt crisis is all about apportioning losses between debtors, creditors, and taxpayers from debts that simply cannot be repaid in real terms
Steve Keen on a Double Dip and Private Debt
Australian Professor Steve Keen explains why private sector debt dynamics drove both the Great Depression and the Great Recession
Janet Tavakoli on fraud, derivatives, and bankruptcy
Janet Tavakoli was a recent guest on “On the Edge with Max Keiser” and had some troubling things to say about the state of the present U.S. financial system. She believes the liquidity pumped into the system will not be sufficient to reflate the economy because of over-leveraged U.S. households. The real burden of debt
Steve Keen and the spectre of terminal debt
Say I’m a politician and I am concerned about my re-election prospects in 2010. I have been a member of Congress for seven years now and have developed a good reputation as a reform-minded economic realist willing to listen to a number of competing economic ideas. However, right now I am a bit concerned about