Sunday, April 30, 2017

Steve Keen on the Macroeconomics of Bank Money and Debt

Steve Keen’s talk here in Copenhagen on the fallacy of the loanable funds model of banking:

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  1. Didn't know that Steve Keen had another youtube channel.

  2. Keen’s analysis and de-bunking of DSGE is terrifically enlightened, but his policy recommendations are incomplete and only partially conscious of the new economic paradigm of Monetary Grace as in Gifting. Partially conscious because his advocacy of “a modern debt jubilee” is aligned with Monetary Gifting, but incomplete in that a jubilee is a static “one off” policy and he also has no effective dynamic pricing policy to enable both individuals and enterprise to survive and thrive in an inherently disequillibative modern economy. Curiously he hasn't aligned his policy recommendations with the very disequilibrium theory he advocates. You can see the full fleshing out of the concept and aligned policies for accomplishing the integration of the truths of both conservative and liberal economic theories and hence full consciousness of same here: