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Should governments run surpluses?

Summary:
My talk at the “‘Economics With Justice” seminar series at the The School of Economic Science in Mandeville Place, London. I cover where the argument for austerity came from, a thought experiment about what will happen when a government runs a sustained surplus, and a model showing what happens when the government does run a ...

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My talk at the “‘Economics With Justice” seminar series at the The School of Economic Science in Mandeville Place, London. I cover where the argument for austerity came from, a thought experiment about what will happen when a government runs a sustained surplus, and a model showing what happens when the government does run a surplus.



There’s a blip at the 37 minute point when I had a model problem in the live presentation; I insert a repaired simulation done after at my office.



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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