This is the recorded talk I gave to Positive Money Italy (http://monetapositiva.blogspot.com/) on November 23rd 2018. I explain that excessive private credit caused the relative boom in Italy before the crisis, and the collapse in credit during the Eurozone-imposed period of austerity is the main reason that economic growth in Italy has stagnated.
Steve Keen: Corona bailouts – for main street or Wall Street?
Billions of dollars are being pumped into economies the world over to protect economies from COVID-19. Much of it comes in the form of government fiscal stimulus, funded through bond issuance. Some of it involves […]
Steve Keen: Ricardo’s Vice and the Virtues of Industrial Diversity
Debunking a typical economist error of composition: specialization may be good for you, but not for us. Complex diversity wins. Read here
Steve Keen – Why did socialism fail at product innovation and economic growth?
Under capitalism] You have competitive industries, where you’re trying to take demand away from your rivals. You have Kawasaki versus Honda versus BMW etc. etc.. The way you get demand away from your competitors is […]
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