In conversation with: Prof. Steve Keen

Ross Ashcroft from Renegade Economist speaks with Steve Keen whilst he was in London to launch his new book ' Debunking Economics: The Emperor Dethroned?'

See Steve's blog at: http://www.debtdeflation.com

• Category

  News & Politics

[diurdi]

A good one would be the FDIC and Glass-Steagall. Alot of free market economists ultimately believe that the glass-steagal is harmful for the economy, as it is government regulation.

However, the FDIC was never intended to exist without glass-steagal. The FDIC is a huge creator of moral hazard, only restrained by the glass-steagal. When the G-S was repealed but FDIC left intact, all hell broke lose.

[TheFrankFactor]

Everyone knows that laissez faire economics is always an astounding success! There's no need to protect the interests of the consumer from predatory capitalist influence! Just look at how capitalist interests respect the institution of public governance. You fucking laissez faire twats are a hoot! "Protect Wall Street from the poor!" "The Commies are comming!" Spoiled twats!

[Michael Haimerl]

13:30 the nazis were right wing? If anything, they took things from both sides of the political spectrum. Their Nationalism may have been conservative, but their disdain for religion and capitalism and their lust for bigger and bigger government was as much left-wing as it can get. What a pathetic attempt to whitewash the left-wing spectrum from this perversion. Maybe he should read their manifesto before talking such nonsense.

[mark stubbles]

It is a natural reaction from the uninformed/ignorant

[NearAbbeyRoad]

@bijdavbby

"Blaming immigrants and minorities for the problems of the system is natural."

It is not it is pure ignorance.

[H1TMANactual]

Glass-Steagall was never repealed. It is still a law today. Only two sections of it were repealed. But ironically I agree. Repealing two sections did increase the moral hazard, but underlying problem isn't Glass-Steagall but FDIC itself, created to bail out bankers and allow banks to make riskier loans.

[H1TMANactual]

I am sorry, "protect" consumers how? By putting power into the hands of politicians who obviously put public interest above their own. Now businesses no longer have to satisfy consumers but Congressmen. Then idiots wonder there are so many lobbyists in Washington. But no no it's free marketeers who are wrong who want to keep choice with consumers, let businesses compete and supply and demand set an equilibrium price. Idiot.

[WilhelmDrake]

The problem is money, corporations and markets?

I've never heard a Free Marketeer say that.

[pretorious700]

wtf? of course they realize that, because it's the PROBLEM.

[bijdavbby]

Blaming immigrants and minorities for the problems of the system is natural. Electing educated and knowledge economist and men of integrity as politicians is key.