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 […]
What is the roll of banks in the economy? Private banks create money supply. Steve Keen is a Distinguished Research Fellow, Institute for Strategy, Resilience & Security, UCL Cross-posted from Steve’s website Building A New Economics […]
Silicon Valley Bank collapsed last month because there was a run on the bank and they didn’t have the assets to cover their customers deposits. They were trading insolvent, in other words, even though they […]
If the west decouples itself from China and other autocratic regimes, just as we have done, to an extent with Russia, what does that mean for international trade? What does it mean for international investment […]
The only explanations for why Central Banks have not bought government bonds directly, and instead through the secondary market, are not based on logic or experience. Steve Keen is a Distinguished Research Fellow, Institute for […]
In the US the government cannot buy Treasury Bonds. Why this is so and why it dangerous, as we saw in the case of SVB. Steve Keen is a Distinguished Research Fellow, Institute for Strategy, […]
The collapse of Silicon Valley Bank last week can be put down to two things – first a management team that clearly ignored the falling value of the assets they held, and second the fact […]
Reading The New Industrial State (Galbraith and Galbraith 1967) again, six decades after it was first published, highlighted for me just how far economic theory has retreated from reality since the 1960s. Steve Keen is […]
They are pushing up interest rates the world over because monetary theory dictates that this is the way to bring down inflation. But not so long ago those same banks were arguing that inflation was […]
Explaining once again why government deficits need not be seen as something negative, but play an essential role in a nation’s economy Steve Keen is a Distinguished Research Fellow, Institute for Strategy, Resilience & Security, […]
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