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The author Steve Keen
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.

Steve Keen’s Debt Watch

The Alternative To Neoliberalism

My talk at the European Parliament to the conference "Peripheral debts: Causes, consequences and solutions: 2 July 2015". I argue that progressive politicians need a complete alternative to Neoliberal economics, which is basically a First Year Economics textbook re-written as a political manifesto.

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Rethinking Economics London

My 10 minute plenary talk to the Rethinking Economics Weekend in London. I compare the "clever but mad" Ptolemaic model of the universe to Neoclassical DSGE models, and argue that we need a new, genuinely dynamic economics. I also show that my Minsky model can be expressed as three incontrovertibly true identities, and the interaction of them can be shown to generate both a Great Moderation and a Great Recession, using modern complex systems methods

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How rising debt causes inequality and crisis (English & French)

In a (for me!) brief presentation with 7 slides, I explain why rising private debt necessarily causes increased inequality, and leads to an economic crisis when the rate of growth of debt exceeds the rate of decline of wages as a share of national income. Crucially, the actual breakdown is preceded by an apparent period of tranquility--a "Great Moderation". This was a short talk to a public audience at ESCP Europe in Paris, which was presented in English and also translated into French by...

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Debt Inequality and Crisis

When the economic history of our epoch is written, three key phenomena will feature: a period of tranquility giving way suddenly to crisis, rising inequality, and rising private debt. Using my model of Minsky's Financial Instability Hypothesis, I show that these three phenomena are all related. There is a direct link between rising debt, rising inequality, and the crisis itself. The key to reducing inequality and ending economic stagnation is to reduce private debt through "Quantitative...

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