Friday , March 29 2024
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Al Jazeera Interview on Credit Rating Agencies

Summary:
The Credit Rating agencies have helped cause this crisis by (a) being for profit organizations whose ratings are paid for by the sellers of financial instruments and (b) giving advice that might be useful in episodic events but which makes systemic crises worse.

Topics:
Steve Keen considers the following as important:

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The Credit Rating agencies have helped cause this crisis by (a) being for profit organizations whose ratings are paid for by the sellers of financial instruments and (b) giving advice that might be useful in episodic events but which makes systemic crises worse.


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.

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