Steve Keen, Professor of Economics at University of Western Sydney in Australia – In part 1 of this interview, he talks about the flaws in economic theory. In part 2 he talks about how in his search for a realistic framework of capitalism he ended up with the work of Hyman Minsky. In part 3 talks about the role of private debt in the economy. In part 4 tells us why he prefers to speak of the credit accelerator, rather than the credit impulse. In part 5 he talks about the world economic outlook. In part 6 shares his views on Europe, China, and Brazil. A realistic model of capitalism should have money in it, says Steve Keen in part 7 of the interview.
exposes what many non-economists may have suspected and a minority of economists have long known: that economic theory is not only unpalatable, but also plain wrong.