"Money doesn't cause inflation; people cause inflation." Join renowned economist Steve Keen as he dismantles the conventional wisdom surrounding inflation in this eye-opening discussion. Delving into the complexities of economic theory, Keen challenges the mainstream narrative that blames government spending for rising prices. Instead, he highlights the crucial roles of corporate markups, labor costs, and productivity in shaping inflationary trends. With a historical perspective and a focus...

"The biggest danger in capitalism is the debt deflation, far more dangerous than inflation." Join Steve Keen as he explores the profound insights of economist Irving Fisher and his transformation from a mainstream advocate to a critic during the Great Depression. In this engaging discussion, Keen delves into Fisher's debt deflation theory and its implications for today's economy, highlighting the dangers of excessive private debt and the cyclical nature of financial crises. Discover how the...

"Hitler became popular with Germans not just because of racism, but because he turned around unbelievable levels of unemployment to pretty much full employment." Join economist Steve Keen as he explores the complex economic factors that contributed to Hitler's rise to power. In this eye-opening discussion, Keen challenges the conventional wisdom surrounding hyperinflation and the Weimar Republic, revealing how deflation and high unemployment played a critical role in shaping Germany's...

"The Fed just doesn't even get the picture, and when they try to put rates up, they're likely to find the economy declines very rapidly." Join economist Steve Keen as he navigates the complexities of modern economic theory and critiques the mainstream understanding of money creation. In this eye-opening discussion, Keen reveals how private debt shapes our economy and why traditional views held by institutions like the Federal Reserve may lead to significant economic downturns. With insights...

"You think if you don't get the best education, you're not gonna get anywhere at all, so pay a fortune or remain on the scrap heap." Join economist Steve Keen as he challenges the conventional wisdom surrounding debt, education, and the economy. In this eye-opening discussion, Keen critiques the current financial system, revealing how excessive borrowing and the pursuit of higher education lock individuals into a cycle of debt and limit their potential. He argues that the market fails to...

"Learning economics at a university is like learning atomic astronomy with Earth at the center of the universe—it's utterly obsolete." Join influential economist Steve Keen as he challenges the foundations of traditional economics education. In this thought-provoking video, Keen argues that the university curriculum is outdated and misaligned with the realities of a dynamic, non-equilibrium economy. He advocates for a shift towards system dynamics, a more relevant approach that can be applied...

"I looked at them and said hang on guys look at the downside of my life... you own a house I haven't even got a car." Join economist Steve Keen as he reflects on his unconventional journey through life and academia, contrasting his chaotic experiences with the seemingly stable paths of his peers. In this candid discussion, Keen shares insights from his early days of leading a student revolt to his critiques of modern economic theory. Discover how his diverse career—from teaching to overseas...

"Credit is the lifeblood of economic activity, and when it turns negative, it sends shockwaves through the entire system." Join Professor Steve Keen as he revisits his thought-provoking interview with Lex Fridman, diving into the intricate relationship between private debt and economic cycles. In this video, Keen breaks down how rising credit can fuel economic booms, while its decline can lead to devastating recessions. Using compelling data and visualizations, he explores historical trends...

"Credit is absolutely crucial to aggregate demand, and the neoclassical economists are ignoring it because it doesn't fit their model." Join economist Steve Keen as he takes a critical look at Paul Krugman's views and the neoclassical economic model in this thought-provoking discussion. Keen argues that credit plays a vital role in shaping aggregate demand and unemployment, challenging the mainstream narrative that often overlooks these connections. With compelling data and insights, he...

"Capitalism is fundamentally a monetary phenomenon, and we must model the monetary side of the economy." Join influential economist Steve Keen as he challenges the traditional neoclassical perspective on economics and banking. In this thought-provoking discussion, Keen introduces his innovative dynamic simulation tool, Minsky, designed to capture the complexities of financial transactions and the role of money in economic systems. Discover how Keen's insights, rooted in the works of Hyman...

"Politicians and mainstream economists are navigating the economy like amateur drivers behind the wheel of a car." Join economist Steve Keen as he dissects the pitfalls of neoliberalism and the amateurish approach of politicians towards economic policy. In this eye-opening discussion, Keen compares economic management to driving, illustrating how misguided strategies lead to disastrous outcomes. He explores the implications of austerity measures in the UK, the impact of private debt, and the...

"Australia is a particular basket case, but the UK is at a crossroads with house prices that are stagnant and a looming crisis in the housing market." Join us as we explore the intricate dynamics of the housing markets in Australia and the UK with our expert analyst. Discover why the UK is facing a unique situation with declining house prices, particularly in London, while also grappling with high levels of household debt and the implications of interest-only loans. We'll delve into the...

"The capacity to lever up the system isn't there, and the capacity of people to get out of the system in a panic moment is much higher." Join economist Steve Keen as he navigates the turbulent waters of today's financial landscape, discussing the disconnect between asset prices and the physical economy. In this eye-opening video, Keen explores the implications of quantitative easing, the peak of private debt, and the looming threat of volatility in the markets. With insights into the future...

""The entire economy gets sucked into a whirlpool of speculation, and when that happens, ultimately you'll have so much debt that the economy can't finance itself." Join us as we explore the intricate relationship between housing prices, mortgage debt, and government policy with our expert guest. In this eye-opening discussion, we delve into the factors driving the UK housing market, the impact of foreign buyers, and the consequences of speculation on the economy. Discover how the dynamics of...

"China's private debt has doubled in just six years, and the consequences are looming." Join us as we delve into the precarious state of China's economy with expert insights on the alarming rise of private debt and the potential fallout. Discover how the Chinese government’s aggressive lending practices have fueled a massive property bubble and led to overcapacity in industrial production. We explore the implications of these trends, the unique dynamics of China's financial system, and what...

"How anybody thinks they can analyze capitalism while leaving out banks, debt, and money is a bit to me like the ornithologist trying to work out how a bird flies while ignoring that the bird has wings." Join the influential economist Steve Keen as he dissects the glaring omissions in mainstream economic models and their catastrophic implications. Discover why ignoring private debt, banks, and money leads to flawed predictions and recurring financial crises. From the US housing market crash...

"The level of inequality now, as Piketty pointed out in his master book, is now greater than at any time in history with possibly the sole exception of the Gilded Age." Join Steve Keen as he delves into the pressing issue of economic inequality and its far-reaching consequences. In this insightful discussion, Keen explores how financial engineering has exacerbated inequality, leading to economic instability and social conflict. Discover the critical role of private debt, the impact of Federal...

"The most dangerous person you'll meet in the world is a person who's sincerely chasing you down the road trying to cut your head off." Join the influential contrarian economist Steve Keen as he critiques modern economics and its foundational flaws. In this eye-opening discussion, Keen explains how mainstream economics has evolved into a cult-like belief system, immune to its own mathematical errors and real-world failures. Discover how his work, inspired by non-mainstream economists like...

"The financial sector should be a servant of the rest of the economy, not the master. But at the moment, it's the master not just of the economy but of the politicians as well." Join us as we delve into the insights of Steve Keen, the influential contrarian economist, who critiques modern economic practices and highlights the critical role of private debt in shaping economic booms and busts. Discover why Keen believes the current economic recovery in the UK and the US will be short-lived and...

"It's like saying this ship will go a lot faster if you take off all the stuff that's there to stabilize it—you know it will, but it'll go upside down at some point and sink." Join us as we delve into the mind of Steve Keen, the economist who has consistently predicted major economic crises that mainstream economists failed to foresee. In this riveting discussion, Keen explains why traditional economic models are fundamentally flawed, how ignoring the role of debt and banks has led to...

"They think they're leading us to economic equilibrium, but instead they've led us into economic and ecological crises." Join Steve Keen as he dismantles mainstream economic theories and exposes the flaws that led to the global financial crisis. In this eye-opening discussion, Keen critiques the neoclassical school of thought, highlights the dangers of ignoring future uncertainties, and calls for a radical shift in economic paradigms. Discover how historical missteps and contemporary policies...

"The more debt you try and pay back, the higher your debt goes in more terms." Join the influential economist Steve Keen as he delves into the paradox of debt and its deflationary effects on the economy. In this engaging discussion, Steve explains why efforts to pay down debt can actually increase the real value of that debt, drawing on historical examples and modern economic policies. From Brexit to the flaws in quantitative easing, discover why Steve believes the UK economy is in big...

"It's kindergarten thinking about the economy if you're under surplus for four or five years, which is the sort of stuff that both parties are saying." Join Steve Keen as he dismantles the simplistic economic narratives pushed by major political parties. In this eye-opening discussion, Keen explains why running a sustained government surplus is a recipe for future economic crises, using real-world examples from Greece, Spain, Italy, and France. Discover the critical role of private debt and...