Thursday , December 19 2024
Home / Video / News Review Economic growth of 19 member bloc slows in Q2

News Review Economic growth of 19 member bloc slows in Q2

Stavros Mavroudeas August 15, 2019 Stavros Mavroudeas Blog

Stavros Mavroudeas by
Stavros Mavroudeas
My articles My siteAbout meMy booksMy videos
Follow on:Twitter
Summary:
This is an interview in Press TV News (Stavros Mavroudeas & Steve Keen) on the recent turmoil in financial markets and the ominous signs of a coming new recession in the world economy. With Stev Keen we aggreed that the gist of the matter are the unresolved causes of the 2008 crisis. However, we disaggreed ...

Topics:
Stavros Mavroudeas considers the following as important:

This could be interesting, too:

New Economics Foundation writes Moving forward

Dean Baker writes Health insurance killing: Economics does have something to say

NewDealdemocrat writes Retail Real Sales

Angry Bear writes Planned Tariffs, An Economy Argument with Political Implications











This is an interview in Press TV News (Stavros Mavroudeas & Steve Keen) on the recent turmoil in financial markets and the ominous signs of a coming new recession in the world economy. With Stev Keen we aggreed that the gist of the matter are the unresolved causes of the 2008 crisis. However, we disaggreed on its causes (Steve attributing it to deficient demand and private debt, me emphasising the falling profitability). We also disaggreed on the subsequent measures used to surpass the 2008 crisis. Steve argued that Quantitative Easing is working, that public deficits do not matter and that the premature withdrawal of QE leads to the current turmoil. I argued that QE is not a remedy to falling profitability and problems in real accumulation. It alleviates part of the private debt but it cannot generate a recovery as profit rate falters. I also argued that public deficit matters as it becomes unsustainable and a burden to capital accumulation. More generally, I argued that when the real economy if ill (in marxist terms meaning a falling profitability) then monetary means cannot solve, in the long-run, the problem. Overall, this exchang is indicative on the differences between the Marxist and the post-Keynesian analysis.


Are you the author?
0 0
About Stavros Mavroudeas
Stavros Mavroudeas
He is currently Professor of Political Economy at the Department of Social Policy of Panteion University. He was previously Professor of Political Economy at the Department of Economics of the University of Macedonia. He studied at the Economics Department of the National Kapodistriakon University of Athens, from where he received his BA Economics (1985 - First Class Honours).
My articlesMy siteAbout meMy books
Follow on:Twitter

Leave a Reply

Your email address will not be published. Required fields are marked *

More on this subject