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Of surpluses and deficits: discussion with Jussi Ora from Positive Money Sweden

Summary:
This is a short (for me!) video discussing why one entity's surplus is another's deficit in a monetary economy, and why governments running a surplus are making the economy weaker rather than stronger.

Topics:
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This is a short (for me!) video discussing why one entity's surplus is another's deficit in a monetary economy, and why governments running a surplus are making the economy weaker rather than stronger.
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. @2:00 savings behaviour pulls money out of circulation. That does not have to slow the macroeconomy down if everyone else speeds up their rate of spending, so "turnover" increases to compensate the raw demand leakage. But that's the problem, they tend not to.

    • If people would have decent interest rates on the money in the bank, they would spend more money into the real economy. Now they’re forced to take risks only to keep up with inflation. People don’t spend into the real economy, they just inflate the stock markets.

  2. क्रूर सिंह

    Have you given thought to kuramoto model of debt syncronization. Every financial entity can be thought of like debt oscilator.

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