Steve Keen in an, umm, “unconventional” interview:
I am fascinated to hear that Keen is predicting the breakup of the Eurozone by 2021. Also, that Trump will implement a huge stimulus.
Thank god, Steve Keen does not fall for the anti-Putin and anti-Russian insanity so prevalent at the moment in the media.
Subscribe to:
Post Comments (Atom)
All I can say is, I hope Prof. Keen is right. It could be that Michael Hudson is right also - that there will indeed be infrastructure projects but the main beneficiary will be the 1%.
ReplyDeleteOf course on just the principle of stimulus, all I have to say is: SPEND, SPEND, SPEND! If that's what's really done, then it will be a good thing.
I certainly expect Trump will be less likely to capitulate to certain "interests" groups the way Obama did. Christina Hoff Sommers wrote to show us just how little leadership was afforded there:
http://www.weeklystandard.com/no-country-for-burly-men/article/17737#!
Dave Rubin had Yanis Varoufakis on his show recently. Here's the clip if you're interested.
ReplyDeletehttps://www.youtube.com/watch?v=9UOlJsmvwxs
Interesting comments on identity politics in here:
ReplyDeletehttps://www.youtube.com/watch?v=YCq0cIu3adw
Keen understands the money system's basic operation which is much more than most economists and virtually every politician, but he's still behind the curve on both what the new philosophy of economics needs to be and also the specific policies that will greatly stabilize modern economies. His "modern debt jubilee" is actually an excellent idea, but only a one off measure. A one off measure which is actually perfectly reflective of the philosophical concept and the permanent policies required. If a system is inherently cost inflationary you can throw money into it forever and still not resolve the system's problem. Monetary austerity is idiocy in modern economies, monetary stimulus is only capable of palliating the problem and monetary grace as in gifting directly to the individual and reciprocally to the individual and back to the merchant as retail sale is the only way to actually resolve systemic cost inflation.
ReplyDelete