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 hardest to bring down inflation, fearing without their expertise it will spiral out of control. So, will it? What caused it? And can we live with it? This week Phil and Steve look at the pros and cons of inflation and discuss whether it is here to stay.
Austerity
Steve Keen – Has Europe really recovered?
I cover “the usual” in my talk itself: the empirical data that screams that credit plays an essential role in macroeconomics, the a priori reasons that mainstream economists ignore it, why this is logically wrong […]
Economics
Mariana Mazzucato – Rethinking Value
What happens when we confuse price with value? We end up undervaluing care. We pollute more. And the financial sector is allowed to brag about how productive it is—while often just moving around existing value, […]
Economics
Steve Keen – Introduction to The New Economics: A Manifesto
Steve Keen is writing a book for Polity Press entitled The New Economics: A Manifesto. It has a long way to go, but this is the reasonably complete first chapter. It will surely be a […]
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