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Lecture 09: Austerity, Budget Surpluses and “Sound Finance”

Summary:
How sound is “Sound Finance”? The logic behind running a budget surplus. The arguments for and against “Expansionary Fiscal Austerity” and “Functional Finance”.

Topics:
Steve Keen considers the following as important:

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How sound is “Sound Finance”? The logic behind running a budget surplus. The arguments for and against “Expansionary Fiscal Austerity” and “Functional Finance”.


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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