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Workshop 05 Post Keynesian Dynamics using Minsky

Summary:
Continuing on from Workshop 4, this workshop: Explains how to build a monetary model of capitalism in Minsky, using its Godley Tables; Explains the role of credit in aggregate demand and aggregate income; Shows how the data overwhelmingly confirms the Post Keynesian “Endogenous Money”/”Bank Originated Money and Debt” approach to macroeconomics and contradicts the Neoclassical ...

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Continuing on from Workshop 4, this workshop:


Explains how to build a monetary model of capitalism in Minsky, using its Godley Tables;


Explains the role of credit in aggregate demand and aggregate income;


Shows how the data overwhelmingly confirms the Post Keynesian “Endogenous Money”/”Bank Originated Money and Debt” approach to macroeconomics and contradicts the Neoclassical “Loanable Funds”, moneyless-macroeconomics;


Explains that Minsky’s Financial Instability Hypothesis was inspired by Irving Fisher, not Keynes.


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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