CHALLENGING the RECESSION Can we Change the Economy? Yes, we Can! Grand Committee Room April 23,...
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CHALLENGING the RECESSION Can we Change the Economy? Yes, we Can! Grand Committee Room – April 23, 2009 Sabine K McNeill
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Debunking Economics The Naked Emperor of the Social Sciences Steve Keen –Assistant Professor, University of Western Sydney –www.debunking-economics.comwww.debunking-economics.com
Transcript of CHALLENGING the RECESSION Can we Change the Economy? Yes, we Can! Grand Committee Room April 23,...
CHALLENGING the RECESSION
Can we Change the Economy?Yes, we Can!
Grand Committee Room – April 23, 2009
Sabine K McNeill
Debunking Economics
• The Naked Emperor of the Social Sciences
• Steve Keen – Assistant Professor,
University of Western Sydney – www.debunking-economics.com
The National Debt
• 1694: £1.2 million at 8%
• 1855
• 1998:DMO
Cash & Credit
• Issued by States– Interest free
• Notes• Coin
• Cash : Credit Ratio– 1945: 48% : 52%– 1968: 29% : 71%– 2008: 3% : 97%
Bad Money (Broad M1)
• Issued by Banks– Interest bearing– Wholesale
• Monetary & Financial Institutions (MFIs)
• Private Non-Financial Corporations (PNFCs)
• Other Financial Corporations (OFCs)
– Retail • Consumer Credit
Good Money (Narrow M0)
Today
Onwards & Upwards
