Season 1 · Episode 107
Slow Money
Debunking Economics - the podcast · Steve Keen & Phil Dobbie
July 6, 201830m 6s
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Show Notes
The speed of growth in an economy and the rate of inflation is driven by how much money is in circulation and how quickly its changing hands. Steve Keen says we need to add the change in debt to Milton Friedman’s formula. As he discusses with Phil Dobbie, that would explain why the velocity of money has decreased since the eighties, even though the supply has been up and down, along with economic growth and inflation. So how important is the velocity of money and why is it frequently ignored?
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