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Keen Behavioural Finance 2011 Lecture 11 Global Economic Crisis

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Uploaded on Nov 1, 2011

The remarkable thing was not that I and a handful of others saw this crisis coming, but that so many neoclassical economists had no idea it was approaching. I explain why they failed to see it (by ignoring private debt and believing in a fantasy of economic equilibrium), discuss the empirical dimensions of this crisis in comparison with the Great Depression, and present my explicitly monetary macroeconomic model.

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