Keen Behavioural Finance 2011 Lecture 10 Financial Instability Hypothesis Part 1

[KenMacMillan]

What about entrepreneurs who don't borrow money?

[LCTesla]

Steve, would it be correct to say Walras' law is consistent with Schumpeter's views on "initiation of new procuts/production methods" if the total market is considered to incorporate sectors separated from each other in time, i.e. whatever surplus of demand exists in a past stage can be matched to a deficit of demand in a future stage signifying the taking on and repayment of a debt? or does this lead to a kind of infinite regress where the "final" repayment is never made?

[heckler73]

@anyone, really...

Would it be better to read Schumpeter's "Theory of Economic Development" before, or after "Debunking Economics II" ???

[ProfSteveKeen]

@heckler73 After. Schumpeter is a great economist but a rather convoluted writer. I think he'll make more sense after reading Debunking Economics II than before.