by Summary:
The mainstream economic idea that banks are just intermediaries between savers and investors is a fantasy, but given that fantasy, their argument that the level and rate of change of private debt are not macroceonomically significant (except at the “Zero Lower Bound” is correct. But in the real world, the role of the level and ...
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Steve Keen considers the following as important:
This could be interesting, too:
The mainstream economic idea that banks are just intermediaries between savers and investors is a fantasy, but given that fantasy, their argument that the level and rate of change of private debt are not macroceonomically significant (except at the “Zero Lower Bound” is correct. But in the real world, the role of the level and ...
Topics:
Steve Keen considers the following as important:
This could be interesting, too:
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