Critical economics

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Critical economics

An economic crisis is a great incentive to learn about economics

The economic crisis that started in the banking sector is wreaking havoc across the globe, and creating political cover for a mass transference of wealth from the poor to the rich. We are told we are facing a crisis of public spending, that governments spent too much on social services during the boom. But is this true?

We’ve held a series of web conferences with prominent critical economists to look behind the scenes at the crisis. These conferences were open to all, and participants were free to ask questions and have them answered by experts.

We spoke to:

Steve Keen, on Minsky and this generation’s Hitler
Alain Parguez, on Modern Austerity Programmes as a road map to poverty
Yanis Varoufakis, on the political paralysis that is stopping the crisis being solved
Heiner Flassbeck, former deputy finance minister of Germany, about Germany’s role in the Eurozone crisis
Michael Hudson about the need for debt jubilees – the mass cancellation of debt – to get the economy moving
Steve Keen, one of only a handful of economists to correctly predict the financial crisis, about the intellectual flaws in classical economics
Stephanie Kelton about Modern Monetary Theory and a pure fiat money system; and
Yanis Varoufakis about the Greek crisis and a possible solution

We’re not saying that these economists are right about everything and that their branch of economic theory is the only correct one. But by listening and asking questions, we can learn a lot – and start to build an economic practice that aims to meet the needs of people and planet, and is based on evidence, rather than mythology and belief..

Is there any one else we should speak to ? Let us know.

Don’t fancy watching the videos? Download the podcasts and listen on your phone or mp3 player.

Steve Keen