Friday, February 3, 2012

Thomas Palley on the Disaster of Neoliberal Economics

Thomas Palley gives a talk here on macroeconomic disasters of neoliberalism over the past 30 years, and the underlying macro issues contributing to the financial crisis of 2008.

Thomas Palley is a leading Post Keynesian, and the author of Post Keynesian Economics: Debt, Distribution, and the Macro Economy (New York, 1996).


  1. Lord Keynes,

    Do you know of any post-keynesian critiques on Palley's structural keynesian approach?

  2. Not really - the points Palley makes would command assent from most Post Keynesians, I imagine.

    Some points:

    (1) the debt deflation work of Steve Keen is perfectly compatible with Palley's macro critique.

    (2) Minsky's financial instability hypothesis (FIH)is still highly relevant - Palley's critique merely complements the FIH too.