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Petrol for Banks?

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Petrol for Banks?

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Steve Keen considers the following as important:

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Petrol for Banks?
Steve Keen
Steve Keen (born 28 March 1953) is an Australian-born, British-based economist and author. He considers himself a post-Keynesian, criticising neoclassical economics as inconsistent, unscientific and empirically unsupported. The major influences on Keen's thinking about economics include John Maynard Keynes, Karl Marx, Hyman Minsky, Piero Sraffa, Augusto Graziani, Joseph Alois Schumpeter, Thorstein Veblen, and François Quesnay.

4 comments

  1. @davidwilkie9551

    Another aspect-version of phase-locked mono-dualistic continuous connection concept, solid-liquid-gas-plasma, coal, oil, methane and military services values, or philosophical substantiation legitimacy, morally balanced policies and governance framework operating for the Common Good Healthcare and Welfare.., holistic ONE-INFINITY.

    Wether it's a bank or individual, any aspect-version of coherence-cohesion exception that's out of relative-timing resonance information In-form-ation metastability, has to be recognised as feedback from the temporal superposition thermodynamical logarithmic condensation modulation cause-effect mechanism.

    Good reason to study Quantum Operator Logic Fields Modulation Mechanism Singularity inside-outside positioning.

  2. So what problem does QE solve?

    QE does not fit into my understanding of debt. To me, when money is created, there must be a debtor, who is able to create a supply which is demanded. Without, money is not money.

    So to me, QE is a signal, that the central bank is desperate.

    • Banks can lend without having it on their books.

    • @@webfreakz what do you mean? Money is a creature of bookkeeping. They cannot lend money without having it in their books. If you borrow, your bank account would stay at zero, if they lend without having it in their books since your bank account is a part of those books.

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