“If your model can’t reproduce the great depression, it’s not a model of the capitalist economy”
Whether you like all of Prof. Steve Keen’s opinions or not, you have to listen to his economy theory.
We keep missing coming economic crises because the neoclassical models are completely wrong, especially about debt.
https://www.youtube.com/watch?v=9TDSGSg6rr4
#economy #models #stevekeen #economiccrash #debt #instability #monetarysystem #capitalism
PitchFork Economics: "Today, each dollar in circulation generates up to 70% less economic activity than it did just ten years ago."
Ann Pettifor: "Where does money come from? Money comes from individuals applying for loans in the first instance; or money originates as credit."
Ann Pettifor: "Money is created by you and me. And we need a bank to help us do that."
#credit #confidence #moneyCreation #activity #business #growth #MMT #banking #monetarySystem #money
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