Rating is available when the video has been rented.
This feature is not available right now. Please try again later.
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.