Steve covers why the Neoclassical model of banking known as “Loanable Funds” is a dangerously misleading caricature of actual banking, why credit has a crucial role in macroeconomics, and why savings is a sensible activity for individuals but has a destructive impact on aggregate demand.
Economics
Steve Keen, Phil Dobbie – Piero Sraffa and the non-existent supply curve
Most people think economics can be summarised in just two words – supply and demand. Where they cross that determines price and as they move the price moves. But what if the supply curve is […]
Economics
Renegade Inc: Michael Hudson, Richard D. Wolff – America, Money or Your Life
During quarantine, what better to do than check in with two of America’s great economists? We wanted to know where next for capitalist America as this deadly virus grips an already frail economy. Has the […]
Economics
John Harvey – Exchange Rate Theory: Is it as Horrifically Boring as it Sounds?
Join Professor John Harvey, a leading Post-Keynesian economist, as he explores the world of exchange rates and how the largest (and most volatile) market on the planet is understood by orthodox economics.
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