Tuesday, February 7, 2017

Steve Keen on the Money Multiplier Myth

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  1. Ellis Winningham was on this topic as well a few weeks ago for his weekly appearance on Real Progressives:


  2. MMT understands the mechanics of money creation and Steve Keen has re-discovered most of the flaws in neo-liberal macro, but both are behind the curve on what the monetary and economic policies need to be in order to stabilize modern economies. Those policies can be quite easily derived from the new philosophical concept and monetary paradigm that Keen has only partially become conscious of in his calling for "a modern debt jubilee".