Season 1 · Episode 327
The Debt Myth
Economists ignore debt because they believe one person's debt is another person's credit. But that isn't always the case.
Debunking Economics - the podcast · Steve Keen & Phil Dobbie
November 30, 202239m 9s
Audio is streamed directly from the publisher (sphinx.acast.com) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
How widespread is the idea that one person's debt is another person's credit and therefore has no impact on the economy. What are the implications of this thinking and what changes when the realisation that the banking sector is also involved and so is is the relative velocity of money in different hands. If we accepted that debt and credit don't always can cancel each other out how would that change the approach of governments and the monetary policy of Central Banks?
Hosted on Acast. See acast.com/privacy for more information.