Steve Keen’s Debt Watch

7th video in a series showing how to use Minsky to build dynamic models. This one shows how the banking system modeled in Minsky in the 6th video looks when it is built in a standard system dynamics program like Vissim. I have launched a campaign on Kickstarter to further develop Minsky: http://www.kickstarter.com/projects/2123355930/minsky-reforming-economics-with-visual-monetary-mo Please help Kickstart Minsky!

6th video in a series showing how to use Minsky to build dynamic models. This one shows what Minsky can do that other programs cannot: model a financial system easily and accurately. I have launched a campaign on Kickstarter to further develop Minsky: http://www.kickstarter.com/projects/2123355930/minsky-reforming-economics-with-visual-monetary-mo Please help Kickstart Minsky!

5th video in a series showing how to use Minsky to build dynamic models. This one builds a basic cyclical model of the economy. I have launched a campaign on Kickstarter to further develop Minsky: http://www.kickstarter.com/projects/2123355930/minsky-reforming-economics-with-visual-monetary-mo Please help Kickstart Minsky!

4th video in a series showing how to use Minsky to build dynamic models. This one starts from two populations of Fish and Sharks, and then combines them into a simple predator-prey model. I have launched a campaign on Kickstarter to further develop Minsky: http://www.kickstarter.com/projects/2123355930/minsky-reforming-economics-with-visual-monetary-mo Please help Kickstart Minsky!

3rd video in a series showing how to use Minsky to build dynamic models. This one starts from a simple exponential growth model for Fish and add exponential decay for Sharks. I have launched a campaign on Kickstarter to further develop Minsky: http://www.kickstarter.com/projects/2123355930/minsky-reforming-economics-with-visual-monetary-mo Please help Kickstart Minsky!

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.