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.
Central banks have cut interest rates, some governments have introduced stimulus measures. But still the disease spreads and livelihoods are put at risk. In today’s extra (free) edition of the Debunking Economics podcast Prof Steve […]
Watch HERE Political scientist John Mearsheimer says the West will support a frozen conflict in Ukraine, but not NATO membership. When great powers feel insecure and vulnerable, they lash out in unpredictable ways. This is […]
We discuss Europe’s chaotic vaccine roll-out, a French lockdown that is not a lockdown, the US U-turn on Nord Stream 2 and a potential changing of the guard in the Dutch and German finance ministries. […]