Mental health is an issue that impacts a growing number of people, not helped by the COVID 19 lockdown. Divya Dhami, an undergraduate student from the University of British Columbia, says the economy is paying for it in terms of reduced productivity. Money investied in fixing the problem would be recovered through increased GDP. But isn’t GDP part of the problem? Phil Dobbie asks whether the wellbeing index is a better measure of government success? Steve Keen suggests debt is a significant part of the problem – in the good old days students went to university to learn and it was a relaxing experience. But there are behavioural issues too – like addiction. Just how far do we want the state to intervene?
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 […]
The wellbeing of a capitalist society depends on the endless accumulation of privately owned capital. This requires a replacement of input-minimising by output-maximising rationality. One result is a fiscal crisis of the state, due to […]
Unfortunately, the 1970s experience changed economic theory for the worse, and that theory will guide how the Federal Reserve tries to tackle today’s inflation. It won’t end well Steve Keen is a Distinguished Research Fellow, […]