Heterodox
This is a talk Steve Keen recently gave at Cartanega University in Colombia on the flaws of equilibrium modelling in neoclassical economics.[embedded content]
Read More »Steve Keen’s Talk “Will We Crash Again?”
Below is the video of Steve Keen’s recent talk at the FT/Alphaville conference in London, where he discusses why the world economy crashed in 2008, and why private-debt-induced stagnation is likely to be the fate of many Western countries for the foreseeable future. More details here.One of his more interesting predictions is an economic crisis in China in the next 1 to 2 years, given China’s own sharply rising private debt to GDP ratio. Steve Keen also recommends Richard Vague’s book The...
Read More »Deflation is Here — And The Government is Poised to Make it Worse
Consumer prices may not be deflating as quickly as Labour’s electoral chances did earlier this month, but — even after £300 billion of quantitative easing — price deflation for the first time in more than half a century is finally here. The Bank of England continues to throw everything at keeping prices rising at close to their 2 percent target. Yet it’s not working. And this is not just about cheaper oil. Core inflation has also been dropping like a rock. I argued that “deflation was...
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