Today I’m talking to another of my favourite economists, Steve Keen. I absolutely love talking to Steve because he never holds back from saying what he thinks. He’s got the courage of his convictions and, of course, he’s got the data to back up those convictions.
Steve is an Australian economist and author of Debunking Economics, a critic of mainstream economics and—importantly, in terms of setting himself apart from other economists, he’s developed his own simulation software that models the economy as it changes over time. He’s also well known as one of the few who predicted the 2008 financial crash.
In this episode, among other things, Steve debunks the claims of neoliberal economists on their own terms, talks about the importance of the private debt-to-GDP ratio and demonstrates the crucial role of government as a stabiliser of the economy—using his simulation software.
I spoke to Steve for quite a while. It’s all great stuff with fantastic insights but a bit too long for this podcast – so in addition to this episode I intend to post the full chat on YouTube.
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One more thing: I’ve beeped out a few words in this episode. I just thought I’d let you know before we get into it.
Ok, let’s listen to economist Steve Keen on the MMT101 Podcast.
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