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The economic science and the debt crisis (the Swedish TV program "World of Science, Nov. 19th 2012)

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Published on Nov 19, 2012

"Vetenskapens värld (14-18) ekonomivetenskapen och skuldkrisen" 12.11.19-2000(SVT2)

95 % of the interviews are in English.

The excellent weekly Swedish TV program, "The World of Science" ('Vetenskapens värld') at 20:00 hours today broadcasted a program on
economic theory and the financial crisis. Focus was on debt and productive investment, and the elimination of the financial and banking sector in economic theory.
- and how the financial sector went from a lubricant to being a parasite and a Ponzi scheme.
The NEP conference in Berlin and George Soros were mentioned briefly.
The crisis has released criticism against neo-classical economics,
Kunghof's model shows how debt increased the wealth differences and imploded the system.
The banks and austerity are blamed. Debt has to be sanitized.
Sweden is heading towards a debt crisis.
Slowly a new consensus is building within the community of economists:
The financial sector has become too large and must shrink. But which?
Debt has be be restructured and written off.

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