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What not to learn from conventional finance & macro

Summary:
If there’s one over-arching theme to Neoclassical finance and macroeconomics, it’s that leverage doesn’t matter. This is so empirically wrong it’s almost funny.

Topics:
Steve Keen considers the following as important:

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If there’s one over-arching theme to Neoclassical finance and macroeconomics, it’s that leverage doesn’t matter. This is so empirically wrong it’s almost funny.


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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