Season 1 · Episode 53
Why we shouldn't worry (too much) about government debt
Debunking Economics - the podcast · Steve Keen & Phil Dobbie
July 11, 201732m 11s
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Show Notes
Governments everywhere are preoccupied with keeping their spending under control. We are conditioned into thinking about the massive levels of interest being paid on the money that our governments owe. In this edition of the Debunking Economics podcast Professor Steve Keen explains to Phil Dobbie why we should quit worrying – governments can create money through their central banks. He explains the process in detail. The only concern is when money is owed in a foreign currency – again, Steve explains why. The upshot is, we should be less concerned about government debt and more worried about our trade deficit.
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