Economist Dr Steve Keen Demolishing Neoliberal Economists’ Assumptions and Beliefs: Part Two of M...

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Today I have the second part of my conversation with economist Steve Keen. I’m sure you will enjoy it. Steve is on form and dispenses his wisdom throughout


In this part of our chat he continues his demolition of the neoliberal understanding of the economy: from barter, to the importance of the idea of equilibrium - to loanable funds – or as he calls it – The Ashley Madison Theory of Banking.


In the last section of our conversion Steve pulls up his data tables to explain double-entry bookkeeping – in the context of our modern monetary system.


So, I suggest you watch this via the video version of this chat on my MMT101 Substack - as it will be more difficult to understand what is going on if you are just listening.


One thing I have to say before we start is that there are some swear words in this podcast episode. I initially took them out - but then I changed my mind. It felt that by removing them I was taking away the impact of what Steve was saying – and anyway it is up to you to decide whether or not you are happy or unhappy about some swear words. You don’t have to listen if you are offended.


On a different note, if you want to support my work teaching the basics of MMT, I would really appreciate it if you were to become a subscriber - or even better a paid subscriber. Because it really helps me to continue on my mission of teaching the lessons of MMT.
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While I have your attention, did you know I have a comprehensive MMT online training course that is free for paid subscribers (https://mmt101.substack.com/subscribe) ? Review the contents of my course here (https://www.udemy.com/course/mmt101-m...) .


Now it a good time to learn about Modern Monetary Theory (MMT) and why it is the only approach to economics that tells us that saving the world and the people in it is possible.


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(https://substackcdn.com/image/fetch/$...) Jim Byrne – MMT101