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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.