A recent talk by Steve Keen on how private debt/credit causes financial crises:
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Keen has, in the past, supported a thing he calls ‘quantitative easing for the people’. This means giving the whole adult population some cash, on the condition that if you have debt you MUST use the cash to pay down your debt. A fair idea. But I wonder how this would prevent people from just going back into debt again?
ReplyDeleteThe (new) debt fuelled spending following a debt jubilee would be good for the economy but is in no way sustainable.
Any ideas?
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Also LK, I note that the site seems to be struggling with publishing content other than Steve Keen vids of late. Would you be open to contributions from yr loyal readers?
ReplyDeleteProgressivism is dead.
ReplyDelete