Dave Strickler | Steve Keen -Alternative economics 1 Credit, Islamic Finance, & Preventing Economic Crises @DaveStricklers | Uploaded October 2016 | Updated October 2024, 10 hours ago.
Alternative economics 1: Credit, Islamic Finance, & Preventing Economic Crises
Published on Oct 16, 2016
This is the first third of a workshop on alternatives to Neoclassical economics that I gave in Malaysia on October 15 2016, after giving the keynote speech at the Symposium on Islamic Economics & Finance Education. I cover:
(1) the recent change in the attitude of mainstream economists to their own models [Minutes 0-12]
(2) building macroeconomic models from macroeconomic identities [12-30]
(3) Can equity-based lending prevent crises? [[30-38]
(4) Some questions INCLUDING "What is a sustainable private debt level" WITH FROM 44 TILL 52 MINUTES a fascinating DYNAMIC BUBBLE CHART of private debt and credit levels for the last 50 years [38 till end of presentation]
Steve Keen's BIO, quote "I am Professor of Economics and Head of the School of Economics, Politics and History at Kingston University London. I am also a prominent critic of conventional economics. Economics has come under challenge from pundits, the public and students since the 2007 crisis, and so it should. Mainstream economists failed to anticipate the crisis, not because it was an unpredictable “Black Swan”, but because false pre-determined beliefs meant they ignored the cause of the crisis: banks lending too much money to finance speculation rather than investment. I did anticipate the crisis because banks, debt and money play an integral role in my dynamic (as opposed to equilibrium) approach to economics. Many mainstream economists think what I do is more like engineering than economics, and I’m proud of that. My book Debunking Economics explains the many logical and empirical flaws in mainstream (and Marxian) economics without using mathematics. It has been translated into Chinese, French and Spanish. I have about 70 other academic publications." unquote - Steve Keen can be followed on twitter at @profSteveKeen and here at debtdeflation.com/blogs
Alternative economics 1: Credit, Islamic Finance, & Preventing Economic Crises
Published on Oct 16, 2016
This is the first third of a workshop on alternatives to Neoclassical economics that I gave in Malaysia on October 15 2016, after giving the keynote speech at the Symposium on Islamic Economics & Finance Education. I cover:
(1) the recent change in the attitude of mainstream economists to their own models [Minutes 0-12]
(2) building macroeconomic models from macroeconomic identities [12-30]
(3) Can equity-based lending prevent crises? [[30-38]
(4) Some questions INCLUDING "What is a sustainable private debt level" WITH FROM 44 TILL 52 MINUTES a fascinating DYNAMIC BUBBLE CHART of private debt and credit levels for the last 50 years [38 till end of presentation]
Steve Keen's BIO, quote "I am Professor of Economics and Head of the School of Economics, Politics and History at Kingston University London. I am also a prominent critic of conventional economics. Economics has come under challenge from pundits, the public and students since the 2007 crisis, and so it should. Mainstream economists failed to anticipate the crisis, not because it was an unpredictable “Black Swan”, but because false pre-determined beliefs meant they ignored the cause of the crisis: banks lending too much money to finance speculation rather than investment. I did anticipate the crisis because banks, debt and money play an integral role in my dynamic (as opposed to equilibrium) approach to economics. Many mainstream economists think what I do is more like engineering than economics, and I’m proud of that. My book Debunking Economics explains the many logical and empirical flaws in mainstream (and Marxian) economics without using mathematics. It has been translated into Chinese, French and Spanish. I have about 70 other academic publications." unquote - Steve Keen can be followed on twitter at @profSteveKeen and here at debtdeflation.com/blogs
