Using credit–which most other economists ignore–to explain why Japan, the USA and UK are among the “Walking Dead of Debt” and why China, Canada, Australia and South Korea are on their way to joining the Debt Zombies. This presentation is based on work I’m doing for a new 25000 word book for Polity Press entitled “Can we avoid another financial crisis?”
It is hard to stress too much the importance of professor Steve Keen’s work to understanding the global macro economic predicament.
One could start with the outstanding track record as one of the few economists who correctly predicted the 2008 global economic collapse. However, his accomplishments go so much further.
No one has done more to explain why the collapse happened. No one has made the economic explanation so crystal clear.
The ramifications of his work are astonishing.
Main stream economic theory is tragically flawed. As a result, macro economic problems are compounding across the globe, and without a complete rethink another collapse is inevitable.