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Just Banking Presentation Edinburgh 2012

Summary:
There are two myths in banking: that bank debt can’t be repaid, and that banks don’t have any significant impact on macroeconomics. The former is held by many in the public, the latter is believed by the the dominant deluded school of economics, Neoclassicism–as Paul Krugman confirmed recently in his blog brawl with me. This ...

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There are two myths in banking: that bank debt can’t be repaid, and that banks don’t have any significant impact on macroeconomics. The former is held by many in the public, the latter is believed by the the dominant deluded school of economics, Neoclassicism–as Paul Krugman confirmed recently in his blog brawl with me. This presentation debunks both myths, using logic, dynamic modelling, and empirical data.



A warning: I was given only 20 minutes for this presentation so I went even faster than I normally do!



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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