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Keen Behavioural Finance 2011 Lecture 08 Modelling Endogenous Money Part 1

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Uploaded on Oct 11, 2011

Explaining the "Monetary Circuit Theory" of capitalism. I show that the dilemmas that hobbled Circuit Theory for so long were simple mistakes in dynamic modelling, which reflect poorly not so much on Circuit theorists themselves, but economists in general, since even non-orthodox economists are locked into the static ways of thinking they were taught by neoclassical lecturers.

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