This is my keynote presentation at the 1st European Modern Monetary conference. I cover the fallacies that mainstream economists believe about money and why they are wrong, how their decision to ignore banks, money, credit and private debt in their macroeconomics depends upon the false “Loanable Funds” model of bank behaviour, and how private debt and credit explain the tendency of capitalism to fall into financial crises.
Economics
Nick Shaxson – “The Finance Curse – 20 reasons to shrink your local financial centre”
Countries whose economies are dominated by large financial centres suffer a “Finance Curse” that is rather similar in cause and effect to a “Resource Curse” that afflicts many countries whose economies are dominated by large […]
Economics
Steve Keen, Phil Dobbie – What will all this inflation do to us?
Not so long ago the world was worried about deflation, supposedly driven by low-cost imports from China, but also a stagnating economy driven by high levels of private debt. Now central banks are trying their […]
Finance
Richard Murphy and Saila Stausholm: The Big Four – A study of opacity
Not recent, but still current today, concerning The secret world of the Big 4 firms of accountants
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