For most of us liquidity is an easy concept to understand. Have we got enough cash to pay our bills? For small businesses it is a simple case of managing your cashflow and ensuring your […]
Conventional economics is built around the idea of opportunity cost. If there is a limited resource a decision has to be made about how best to use it. How is that principle applied when you […]
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 […]
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 […]
The role of margin debt in the current stockmarket fall. Steve Keen is a Distinguished Research Fellow, Institute for Strategy, Resilience & Security, UCL Cross-posted from Steve’s Blog “I fancy that over-confidence seldom does any […]
We continue our series looking at economists who influenced Steve Keens thinking. This week it’s American economists Richard Goodwin, who Steve says is the chief proponent of non-linear thinking in economics. He wrote Theories of […]
How widespread is the idea that one person’s debt is another person’s credit and therefore has no impact on the economy. What are the implications of this thinking and what changes when the realisation that […]
His answer to Great depression was that we should spend our way out. But now we have rampant inflation because people are spending too much. What would Keynes do now if he was presented with […]
In a recent podcast Steve Keen claimed that the law of thermodynamics dictates that we can no longer extend economic growth whilst looking for efficiencies in our use of energy. This week Phil questions Steve […]
Last week on the Debunking Economics podcast Phil and Steve talked about the likely imposition of Austerity 2.0 around the world, in particular in the UK. Steve said there’s really no need for it. This […]
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