Steve Keen’s Debt Watch

Quick demonstration of how we've implemented grouping in Minsky, the software program I'm developing to make dynamic monetary macroeconomic modeling accessible and easy to do. You can help fund Minsky soon on Kickstarter. Check here for the draft campaign: http://www.kickstarter.com/projects/2123355930/369710714?token=0de466dc

Outgoing Ohio Congressman Dennis Kucinich (see http://kucinich.house.gov/) arranged for me to give a briefing at Congress today on the Fiscal Cliff, and how the downturn of 1937 could be a foretaste of what will happen if the Cliff comes to pass. An attempt by the government to reduce its debt now may trigger a renewed bout of deleveraging by the private sector--and this is what appeared to happen in 1937, when confidence that the worst of the Depression was over led to the government...

My presentation at the Rosa Luxembourg Foundation in Berlin today on how Neoclassical economics misunderstands the role of private debt in a capitalist economy. I show how to use my Minsky program to model both the Neoclassical "Loanable Funds" vision of lending and the empirically-informed Post Keynesian "Endogenous Money" model.

My talk to the Heterodox Economics Students at Cambridge University on November 28th 2012 on the necessity of a strictly monetary approach to macroeconomics.

Economics must be based on an energy theory of value. Here I explain how the laws of thermodynamics and production are consistent, and outline the kind of energy-entropy aware, monetary, multisectoral dynamic nonequilibrium model that economics needs.

How to build a basic cyclical macroeconomic model in under 7 minutes in Minsky. A prelude to our Kickstarter campaign to raise serious funds to develop Minsky to its full potential. For more, check out our Kickstarter preview: http://www.kickstarter.com/projects/2123355930/369710714?token=96f39287 The campaign will go live very soon. Please help make it go viral, and throw some money its way too if you want to help drag economics into the 21st century.

How to build a basic monetary macroeconomic model in under 7 minutes in Minsky. A prelude to our Kickstarter campaign to raise serious funds to develop Minsky to its full potential. For more, check out our Kickstarter preview: http://www.kickstarter.com/projects/2123355930/369710714?token=96f39287 The campaign will go live very soon. Please help make it go viral, and throw some money its way too if you want to help drag economics into the 21st century.

A quick demonstration of dynamic modeling in Minsky at the 2012 UMKC Post Keynesian conference

Matheus Grasselli, Professor of Mathematics at McMaster University, presents an extension of the Keen model of financial instability to include government spending which is able to compare the austerity approach to that of running deficits during a recession.

My presentation at the UMKC Post Keynesian conference in 2012 where I prove that, given endogenous money, effective demand is income plus the change in debt, and show that this is compatible with sectoral balances.