Sunday Papers: Mainstream economists live in a parallel universe

Economics and the schools that teach it have been wrong for such a long time that its students have collectively embraced a mythical model that does not account for the role of money, banks, debt or land.
Renegade economist and friend of the show, Professor Steve Keen recently took the stage at the Sunday Papers event in London to discuss what you’re not being told about the global economy.

None so blind as those who will not see

There is no other way to describe economics in 2017 than wilful blindness, writes economist Professor Steven Keen.  Nobel Laureates who claimed financial crises were now impossible also claimed the 2008 Global Financial Crisis could not have been predicted. This is all, of course, nonsense. The evidence was there all along. Those with the power to change the course of history simply chose to ignore it.

The insidious nature of power

Our problems will not be solved by the victory of one party over another, or of one ‘ism’ over another. Changing lawmakers from ‘conservatives’ to ‘liberals’ or ‘liberals’ to ‘socialists’, without reforming how the laws are made is like asking the orchestra to play a happy tune whilst the ship goes down, writes Mark GB. Our problems arise from the centralisation of power and money in the hands of unaccountable vested interests. We need fundamental reform of the political and monetary system itself.

Review: ‘Can we avoid another financial crisis?’

At first glance Steve Keen’s new book ‘Can We Avoid Another Financial Crisis’ seems too small-sized at 147 pages. But like a well-made atom-bomb, it is compactly designed for maximum reverberation to blow up its intended target. Economist, Michael Hudson reviews Steve Keen’s ‘Can We Avoid Another Financial Crisis’.