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Keen Behavioural Finance 2011 Lecture 08 Modelling EndogenousMoney Part 2

Summary:
Extending the model developed in the first half of the lecture to include payment of wages and consumption. The resulting model “works” in that it is possible for capitalists to borrow money, produce output, and make a profit.

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Extending the model developed in the first half of the lecture to include payment of wages and consumption. The resulting model “works” in that it is possible for capitalists to borrow money, produce output, and make a profit.


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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