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GM10: MMT, Global Warming and the Uniqueness of the 2020 Crisis ft. Steve Keen

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Sinopsis

We are extremely honoured to welcome Steve Keen, the legendary Australian economist, to our podcast today. Steve is one of the leading critics of mainstream economics, and in our conversation provided a valuable alternative perspective to some of the critical issues facing us today. As you might expect, we did spend time discussing the COVID crisis and the potential policy options for addressing its economic effects, but we also touched on a range of other topics, from climate change to digital currencies, as well as giving Rob the opportunity to ask Steve about Brexit. Topics Discussed in this Episode: COVID crisis as a demand and supply shock Deflation “I have expected deflation right from the very beginning of the ’87 crisis, when I first started modelling financial instability, because we have an excessive level of private debt.”Modern Monetary Theory (MMT) “One of the problems that we have about understanding this crisis is about understanding money itself. We are continually getting it wrong.”The Wealth