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INET Young Students Initiative 2017 Can we avoid another financial crisis #inet2017 #newecon

Summary:
If you’ve watched my OECD talk, then this is the same content, but at much higher speed! The failure of mainstream economics to anticipate the crisis–in fact, a prediction of good times; that macroeconomics can be derived from itself rather than from micro, as DSGE models attempt to do; a simple model derived from dynamizing ...

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If you’ve watched my OECD talk, then this is the same content, but at much higher speed! The failure of mainstream economics to anticipate the crisis–in fact, a prediction of good times; that macroeconomics can be derived from itself rather than from micro, as DSGE models attempt to do; a simple model derived from dynamizing three macroeconomic definitions that predicts both a Great Moderation and a Great Recession; the private debt trap we have got ourselves into while politicians obsess about the level of government debt; and the need for a Modern Debt Jubilee .


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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