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Lecture 07/08 Endogenous Money & a tribute to Basil Moore

Summary:
I heard from Louis Philippe Rochon that Basil Moore had died, just before I flew back to London after speaking in Brussels the previous two days, and I was rather emotional as I gave my Kingston Masters class an unexpected tribute to his work. I also cover further developments in the role of energy in ...

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I heard from Louis Philippe Rochon that Basil Moore had died, just before I flew back to London after speaking in Brussels the previous two days, and I was rather emotional as I gave my Kingston Masters class an unexpected tribute to his work.



I also cover further developments in the role of energy in production, and the impact of money being created by new bank debt. I illustrate the difference between the Neoclassical fantasy of Loanable Funds and the real world situation of Bank-Originated-Money-and-Debt, and build a model of monetary flows including government spending in excess of taxation.



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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