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Friede Gard Prize Workshop 05 Combined Godley Flowchart

Summary:
Previous models have been either Godley Table or flowchart models. The full power of Minsky comes from integrating the two, with the flowchart method covering physical production and the Godley Tables enabling these to be integrated with financial flows.

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Previous models have been either Godley Table or flowchart models. The full power of Minsky comes from integrating the two, with the flowchart method covering physical production and the Godley Tables enabling these to be integrated with financial flows.
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.

One comment

  1. Thanks so much for demonstrating why every team of economists needs a member who is expert in mathematics and computer script. I paused your video as you zoomed in on the Portugal model. Is there a component in one of the many, which has variables for consumer and business debt and bank credit fueling their needs ? Given your early presentations in this series mentioning referencing bank credit – it would seem very important to the model. Thanks

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