Web conference with economist Professor Steve Keen.
He talks about Minsky, a computer program he is developing for building and visually simulating dynamic, monetary economic models; the intellectual poverty of neo-classical economics, debt, austerity and the world economy.
Steve draws parallels with the 1930s, and argues that only Government spending on World War Two provided the stimulus to end the Great Depression. Steve feels that climate change will be our generation’s Hitler: the need to avert the worst impacts of climate change will mean we solve the economic problem by tackling the ecological crisis.
The intelligent thing to do, clearly, is to start taking that action now. However, there is little visible policy movement from politicians who are still wedded to austerity, but Steve feels many experts have realised this is disastrous and are looking for alternatives.
This is a vital analysis with a detailed and credible explanation for the financial crisis, and how to escape from it.
You can watch the video below:
Or download the podcast.
Leave a Reply
You must be logged in to post a comment.