Sunday, Sep 19, 2010
Steve Keen's address in 2009
You tube: Getting to Grips with the Economy 2009
i know not news but it is Sunday after all, have a coffee sit back and relax: why the neo economists didnt see it coming... 2 parts he contributes as part 6 and 7. Part 7 imo is better but part 6 isnt bad either. i will post part 6 below:
Posted by techieman @ 11:30 AM (349 views) Add Comment
4 Comments
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1. braindeed said...
Well, they thought it would be different this time.....deja vu, again.
I know people who 'advise' institutions, and I wouldn't trust them with a box of matches.
2. techieman said...
the other part : [this is actually the first part]
3. easybetman said...
Hi @techieman,
Inflation is (or tend) to be defined as +ve change in prices. So, if a company was selling 100 items @ $1 (and hence the people need $100 worth of purchasing power to buy those stuffs) but now sell 50 items at $1.10 (this now requires only $55 dollar of purchasing power), but yet this is a price inflation (from an individual point of view, one who wants to spend his entire $100 can now buy less of these widget). So, if M4 drops (as opposed to total collapsed), price can still go up, especially if M4 has gone up so much in the past. The new globalised economy makes this equation even more complex.
I still think asset price deflation, consumer price inflation (though nothing hyper, of course).
Totally agree with that Minsky thing - stability leads to instability.
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