Steve Keen’s Debt Watch

Both Neoclassical (DSGE) and Post Keynesian (SFCA) models claim to be dynamic. But both violate core concepts in modern dynamics. Both also are at odds with their underling paradigms. Post Keynesian modelers can remedy both ills. Neoclassicals can't embrace modern dynamics without abandoning their core beliefs.

Take Krugman's Loanable Funds model of banking, add the realism that banks make loans to non-banks, and hey presto you get the real world of Endogenous Money, where change in debt (as well as change in velocity) affects aggregate demand. Illustrated with a simulation using Minsky software (download from https://sourceforge.net/p/minsky/).

This video builds a Loanable Funds model of lending, and then converts it to Endogenous Money by simply attributing the ownership of loans to the banking sector rather than to a non-bank agent. It illustrates the importance of including banks, debt and money in macroeconomic models--and emphasizes that models which don't have all 3 facets of lending are not models of the economy in which we live.

From Loanable Funds to Endogenous Money in a few keystrokes in Minsky.

Overview of major changes to Minsky enabled by the Kickstarter campaign, including Minsky being Project of the Month for January 2014 on SourceForge: http://sourceforge.net/blog/january-2014-potm/

Minsky has been chosen as SourceForge's Project of the Month for January 2014. This is the 2nd in a set of 8 brief videos to give an overview of the program for new users and potential developers. This video builds a simple population growth model.

Minsky has been chosen as SourceForge's Project of the Month for January 2014. This is the 1st in a set of 8 brief videos to give an overview of the program for new users and potential developers.

Minsky has been chosen as SourceForge's Project of the Month for January 2014. This is the 7th in a set of 8 brief videos to give an overview of the program for new users and potential developers. This video demonstrates using a Godley table simulation, zooming, panning, etc.

Minsky has been chosen as SourceForge's Project of the Month for January 2014. This is the 6th in a set of 8 brief videos to give an overview of the program for new users and potential developers. This video shows how to build a simple model of a financial system in a flash with Minsky

Minsky has been chosen as SourceForge's Project of the Month for January 2014. This is the 3rd in a set of 8 brief videos to give an overview of the program for new users and potential developers. This video shows a different way to define dynamic equations and adds exponential decline of shark numbers to the model.