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Explaining Richard Koo To Paul Krugman: Loanable Funds

Summary:
This is a demonstration of a Loanable Funds model in Minsky, showing that with this vision of lending, banks, debt and money are indeed irrelevant to macroeconomics.

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This is a demonstration of a Loanable Funds model in Minsky, showing that with this vision of lending, banks, debt and money are indeed irrelevant to macroeconomics.


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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