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Nobody understands debt–including Paul Krugman

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Steve Keen

Debt Deflation

Published : February 11th, 2015

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FOLLOW : Debt Krugman

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Category : Opinions and Analysis


	Tweet Tweet Paul Krugman has published a trio of blog posts on the issue of debt in the last week: “Debt Is Money We Owe To Ourselves” (February 6^th at 7.30am), “Debt: A Thought Experiment” (same day at 5.30pm), and finally “Nobody Understands Debt” (February 9^th in an Op Ed). There is one truly remarkable thing about all three articles: not one of them contains the word “Bank”. Now you may think it’s ridiculous that an economist could discuss the macroeconomics of debt, not once but three times, and never even consider the role of banks. But Krugman would tell you whyyou don’t need to consider banks when talking about debt, and call you a “Banking Mystic” if you persisted. Well Krugman would be wrong, and you would be right. Click here to read the rest of this post.

Source : www.debtdeflation.com

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Steve Keen 13 abonnés

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Steve Keen is associate professor at the University of Western Sydney School of Economics and Finance. As an economist, he does something very unusual : he treats money seriously, and as a result he gets a very different result on how the economy operates.

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