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Double Entry Bookkeeping With Ravel: What Treasury Bond Sales Actually Do

Summary:
Mainstream economists believe--without having done the double-entry bookkeeping--that Treasury bond sales amount to the government borrowing from the private sector. Checking the double-entry bookkeeping gives an entirely different answer.

Topics:
Steve Keen considers the following as important:

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Mainstream economists believe--without having done the double-entry bookkeeping--that Treasury bond sales amount to the government borrowing from the private sector. Checking the double-entry bookkeeping gives an entirely different answer.
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.

3 comments

  1. @cyberpunkalphamale

    For reference, Kenneth D. Garbade (K.D. Garbade) has written great monograms on the history of US Treasury and Federal Reserve policy. He was a long time analyst at the NY Fed, recently retired. Some of his papers explore the history behind those laws mentioned in Prof. Keen's explanation.

  2. Please re-title this video series as 1/6, 2/6, etc.

  3. Which law is it, can we find the exact text?

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