Steve Keen – Monetary Reality Vs Myth

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.