Season 1 · Episode 189
The multiplier effect and who stops it working
Debunking Economics - the podcast · Steve Keen & Phil Dobbie
February 25, 202030m 26s
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Show Notes
The multiplier is a basic concept of economics. If you come across some money and spend it, the person you spend it with then spends a proportion of it again, the recipient of which also spends some of it. In this week’s podcast Phil Dobbie talks to Prof Steve Keen about how savings and taxation influence the multiplier, including how different sectors influence the speed of the multiplier. Plus, the commonly held assumption that if money starts circulating too quickly then it’ll assume less value. And what about those who want to accumulate wealth – do they stop the multiplier working?
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