00:0000:00

Governments have been using the terms ‘fiscal conservatism’ and ‘austerity’ to bring down government spending. Often it’s meant transferring government commitments (like on education) to private or individual spending (like student loans). Phil Dobbie asks Prof Steve Keen if this a sensible way to encourage growth. If we accept that more spending by government increases the availability of money for people to spend, where do you draw the line? Isn’t there a risk that the government does too much, crowding out the activities of the private sector?

To hear the full version subscribe by picking a plan in the right column of the Debunking Economics website (not the mobile app). Or become a patron at https://www.patreon.com/ProfSteveKeen

Premium

Governments have been using the terms ‘fiscal conservatism’ and ‘austerity’ to bring down government spending. Often it’s meant transferring government commitments (like on education) to private or individual spending (like student loans). Phil Dobbie asks Prof Steve Keen if this a sensible way to encourage growth. If we accept that more spending by government increases the availability of money for people to spend, where do you draw the line? Isn’t there a risk that the government does too much, crowding out the activities of the private sector?

00:0000:00

There was a time when universities embraced a diversity of thought – something that’s critical in a discipline as embryonic as economics. With so many neo-classic economists caught by surprise with the 2008 financial crisis, many would welcome alternatives to the models that served them so badly. Yet, in this podcast, Prof Steve Keen suggests to Phil Dobbie that the crisis seems to have made the university sector even more adamant to stick to mainstream theory and push aside anybody suggesting there might be a better way of looking at it all. 

00:0000:00

In this podcast Prof Steve Keen and Phil Dobbie revisit the velocity of money, with a focus on how increasing credit is a major determinant in why the speed of money transfers has been slowing markedly since the eighties. But, it’s not just that. As Steve observes, its part of a complex system. Far more complex than Friedman’s MV=PY equation. We also include comments from listeners who listened to the first podcast on this topic.

To hear the full version subscribe by picking a plan in the right column of the Debunking Economics website (not the mobile app). Or become a patron at https://www.patreon.com/ProfSteveKeen

Premium

In this podcast Prof Steve Keen and Phil Dobbie revisit the velocity of money, with a focus on how increasing credit is a major determinant in why the speed of money transfers has been slowing markedly since the eighties. But, it’s not just that. As Steve observes, its part of a complex system. Far more complex than Friedman’s MV=PY equation. We also include comments from listeners who listened to the first podcast on this topic.

00:0000:00

There’s the theory that the supply of money is a major contributor to the rate of inflation. Prof Steve Keen says the central banks have spent the last ten years unsuccessfully trying to demonstrate as much.  The need for money to be issued to cover government debt has often been levelled as a cause of inflation and a reason for the austerity measures that have been so prevalent in the last decade. Nobody wants to end up like Zimbabwe, right?  In this podcast Phil Dobbie asks Prof Steve Keen what’s the real cause of inflation, if it’s got little to do with the supply of money. Is it the cost-push argument? If so, why is inflation reluctant to rise back up to pre-financial crisis levels?

To hear the full version subscribe by picking a plan in the right column of the Debunking Economics website (not the mobile app). Or become a patron at https://www.patreon.com/ProfSteveKeen

Premium

There’s the theory that the supply of money is a major contributor to the rate of inflation. Prof Steve Keen says the central banks have spent the last ten years unsuccessfully trying to demonstrate as much.  The need for money to be issued to cover government debt has often been levelled as a cause of inflation and a reason for the austerity measures that have been so prevalent in the last decade. Nobody wants to end up like Zimbabwe, right?  In this podcast Phil Dobbie asks Prof Steve Keen what’s the real cause of inflation, if it’s got little to do with the supply of money. Is it the cost-push argument? If so, why is inflation reluctant to rise back up to pre-financial crisis levels?

00:0000:00

We’re seeing an increase in the rate of ice loss in Antartica – another sign that global warming is worsening, whilst the world’s leader do little to mitigate the problem. In fact, one of those leaders has said it’s all a hoax. But if we had a unified impetus to do something about it could we device economic systems to change our behaviour and resolve the problem? That’s a question Phil Dobbie puts to a jaded Prof Steve Keen who believes we must undergo the shock before we take the problem seriously. So far, the shocks haven’t been pronounced enough. And, whichever way you look at it, the solution will involve compromising our living standards.

To hear the full version subscribe by picking a plan in the right column of the Debunking Economics website (not the mobile app). Or become a patron at https://www.patreon.com/ProfSteveKeen

Premium

We’re seeing an increase in the rate of ice loss in Antartica – another sign that global warming is worsening, whilst the world’s leader do little to mitigate the problem. In fact, one of those leaders has said it’s all a hoax. But if we had a unified impetus to do something about it could we device economic systems to change our behaviour and resolve the problem? That’s a question Phil Dobbie puts to a jaded Prof Steve Keen who believes we must undergo the shock before we take the problem seriously. So far, the shocks haven’t been pronounced enough. And, whichever way you look at it, the solution will involve compromising our living standards.

00:0000:00

The speed of growth in an economy and the rate of inflation is driven by how much money is in circulation and how quickly its changing hands. Steve Keen says we need to add the change in debt to Milton Friedman’s formula. As he discusses with Phil Dobbie, that would explain why the velocity of money has decreased since the eighties, even though the supply has been up and down, along with economic growth and inflation. So how important is the velocity of money and why is it frequently ignored?

To hear the full version subscribe by picking a plan in the right column of the Debunking Economics website (not the mobile app). Or become a patron at https://www.patreon.com/ProfSteveKeen

Load more