GOLD is the money of the KINGS, SILVER is the money of the GENTLEMEN, BARTER is the money of the PEASANTS, but DEBT is the money of the SLAVES!!!

Saturday, May 16, 2015

Steve Keen -- Private Debt and Economic Stagnation

This is the talk I gave at the 8th Subversive Festival in Zagreb on May 15th 2015. I start with the Queen of England's question "If these things were so large, how come everyone missed them? Why did nobody notice it?" and then show how private debt was the missing ingredient in the models that conventional economists have, which is why they missed the crisis. I finish with the assertion that economic growth will remain low (and inequality will remain high) until the level of private debt is drastically reduced. I recommend a "Modern Debt Jubilee" as the way to do this.

No comments:

Post a Comment

Related Posts Plugin for WordPress, Blogger...