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My Kingston Inaugural Lecture with slides and data

I’ve been Head of School at Kingston University London for over 18 months now, but these things do take time: last Wednesday I gave my inaugural Professorial lecture to an audience of about 200...

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For Kingston âBecoming An Economistâ students

I’m posting videos of lectures given by my Kingston colleagues to the introductory “Becoming an Economist” course, since the StudySpace software Kingston uses doesn’t support MP4 files. The...

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Our Dysfunctional Monetary System

The great tragedy of the global economic malaise is that it is caused by a shortage of something that is essentially costless to produce: money.read more...

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Hey Joe, Banks Canât Lend Out Reserves

I began another post critical of Joe Stiglitz’s analysis with the caveat that I like Joe. I’ll add to that that I respect his intellect too, both because he’s very bright—you don’t win a...

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Tilting At Windmills: The Faustian Folly Of Quantitative Easing

As I explained in my last post, banks can’t “lend out reserves” under any circumstances, which undermines a major rationale that Central Bank economists gave for undertaking Quantitative Easing...

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Kingston Uni releases monetarily sound forecast model of US Economy

PERG economists are developing a macroeconometric model to track the evolution of the US economy over the medium term, which is 3-5 years:read more...

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Laughterâthe Worst Medicine

Like many commentators, I regard August 9 2007 as the start of the “Global Financial Crisis“. On that day, BNP Paribas declared that several of its funds were being closed because liquidity in...

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Macroeconomics of Loanable Funds & Endogenous Money compared using Minsky

The mainstream economic idea that banks are just intermediaries between savers and investors is a fantasy, but given that fantasy, their argument that the level and rate of change of private debt are...

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Spanish translation of Debunking Economics

I was recently informed that a Spanish translation of Debunking Economics is now available via Amazon Spain, under the title “La Economía Desenmascarada“read more...

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Get ready for an Australian recession by 2017

For the last 25 years, Australian politicians of both Liberal and Labor hue have been able to brag that, under their stewardship, Australia has avoided a recession. Those bragging rights are about to...

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Central Banking, Climate Change and Environmental Sustainability

The Council on Economic Policies and the Bank of England are organising a workshop on this topic to be held at the Bank on November 14-15 2016. A call for papers has just been put out, with a deadline...

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The Seven Countries Most Vulnerable To A Debt Crisis

For decades, some of the most important data about market economies was simply unavailable: the level of private debt. You could get government debt data easily, but (with the outstanding exception of...

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Are we facing a global âLost Decadeâ?

This is an invited paper by the Private Debt Project, an initiative of the philanthropic organization the Governor’s Woods Foundation to raise awareness about the economic importance and dangers of...

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Transcending the Lucas Critique & simple dynamic modelling with Minsky

The Lucas Critique has ruled economics for the last 40 years, and led it into a dead-end as well. In this talk to the Economics for Everyone conference run by the Post Crash Economics Society in...

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Zombies-To-Be and the Walking Dead of Debt

Using the dynamics of credit–which most other economists ignore–I explain why Japan, the USA and UK are among the “Walking Dead of Debt” and why China, Canada, Australia and South Korea are on...

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CERN Discovers New Particle Called The FERIR

CERN has just announced the discovery of a new particle, called the “FERIR”.read more...

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There has to be a better way

Note: This was published as my last column on Business Spectator on April 6th, but it’s now gone missing after News Ltd merged BS with its own in-house stable and changed all the URLs. Given the...

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The Divisive Vote Over Brexit

Andrew Watt has written a passionate critique of my support for Brexit (“Progressive economists should support Remain not Brexit – a response to Steve Keen”), and it highlights a key feature of...

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What next after Brexit?

A cliché—“Expect the Unexpected”—has happened. As I noted in “The Divisive Brexit Vote”, though I favoured Brexit, I took the opinion polls at face value, and expected that Britain as a...

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Inequality, Debt and Credit Stagnation

This was my keynote speech at the French Association for Political Economy (AFEP) annual conference in Mulhouse, France (the other keynote was given–in French–by my good friend Marc Lavoie, who is...

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