Steve Keen

Last updated on 2017-06-30T16:06+0300.

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Steve Keen said ( about The UK ) : “The UK will be looking for trade partners for its exports that might suffer from Brexit, and the main area of interest to them [as far as Russia is concerned] will probably be pharmaceuticals,” External link

ruvr-en Wednesday, September 4, 2019 1:54:00 PM EAT

Steve Keen said ( about The UK ) : “The UK will be looking for trade partners for its exports that might suffer from Brexit, and the main area of interest to them [as far as Russia is concerned] will probably be pharmaceuticals,” External link

rian-en Wednesday, September 4, 2019 1:40:00 PM EAT

Steve Keen told : “When the Federal Reserve, ignoring that, puts up interest rates in the belief they’ll just try to control an economy that might be starting to overheat because of low unemployment, they actually increase the burden on people who are carrying that debt, and they decide to de-lever. So you fall back into a slump again. And this is what we’re going through now. We’re just repeating the same mistake that Japan made back in 1990,” External link

ruvr-en Friday, August 16, 2019 2:48:00 AM EAT

Steve Keen said : “That’s the bottom line behind all of the shenanigans that we’ve seen recently,” “That’s what’s been driving the ups and downs of the economy. But the Fed completely ignores this stuff” External link

ruvr-en Friday, August 16, 2019 2:48:00 AM EAT

Steve Keen explained : “So when there’s a boom going on, because the rate of creation of new money is the change in debt, that clears much, much higher than the level of interest. But if the economy starts to falter, as we’re seeing right now, then that can go down to zero, but you still have to pay interest on the debt,” “Particularly, if you put up the interest rate, which is what the Federal Reserve has been doing for the last few years, that increases the interest rates component of that debt drag, and as it keeps on going up, firms decide to put off investment, they’ve got higher debt servicing costs, and they stop investing, and the economy slows down” External link

ruvr-en Friday, August 16, 2019 2:48:00 AM EAT

Steve Keen told : “When the Federal Reserve, ignoring that, puts up interest rates in the belief they’ll just try to control an economy that might be starting to overheat because of low unemployment, they actually increase the burden on people who are carrying that debt, and they decide to de-lever. So you fall back into a slump again. And this is what we’re going through now. We’re just repeating the same mistake that Japan made back in 1990,” External link

rian-en Friday, August 16, 2019 2:16:00 AM EAT

Steve Keen said : “That’s the bottom line behind all of the shenanigans that we’ve seen recently,” “That’s what’s been driving the ups and downs of the economy. But the Fed completely ignores this stuff” External link

rian-en Friday, August 16, 2019 2:16:00 AM EAT

Steve Keen explained : “So when there’s a boom going on, because the rate of creation of new money is the change in debt, that clears much, much higher than the level of interest. But if the economy starts to falter, as we’re seeing right now, then that can go down to zero, but you still have to pay interest on the debt,” “Particularly, if you put up the interest rate, which is what the Federal Reserve has been doing for the last few years, that increases the interest rates component of that debt drag, and as it keeps on going up, firms decide to put off investment, they’ve got higher debt servicing costs, and they stop investing, and the economy slows down” External link

rian-en Friday, August 16, 2019 2:16:00 AM EAT

Steve Keen comments ( about William Nordhaus ) : “That is a situation we shall have to confront over the next two decades We know that we are using about 1.6 times the reproductive capacity of the planet, so we have to make changes, and I am afraid to say that if we had done this 40 years ago, if we hadn’t been kyboshed by economists, derailing limits to growth and throwing their garbage, pardon me, like that produced by Nobel prize winner William Nordhaus in its place. Now we are really close to the crunch point and it is becoming obvious how much we have over-extended the boundaries of the planet, people will be forced into rationing. I can see everything being similar to what we went through in the Second World War with military enforcement of rationing, and hopefully, this is undertaken on an international scale so that the burden is born more by Americans than it is by Indians” External link

rian-en Saturday, July 20, 2019 6:39:00 PM EAT

Steve Keen comments : “I read a brilliant book by a mathematician a few decades ago called ‘Dynamic Economic Systems’ by John Blatt. He had a punch line at one stage saying that what economists had done was so bad that capitalism itself might cease to exist before the dynamics of capitalism are properly understood. That was hyperbole 40 years ago, but seeing the state we are in now and seeing how little economists know now, that is certainly true. When we are forced to go into degrowth it certainly won’t be market mechanisms that make it work, it will be something like a war effort against the Nazis” External link

rian-en Saturday, July 20, 2019 6:39:00 PM EAT

Steve Keen says : “I would rather call it the wheel economy because even the idea of the circular economy doesn’t get the idea across properly. The wheel doesn’t turn unless it is pushed, and in that sense, a wheel is useless unless energy is pushed onto it from the outside. This is the reality of human society and human economies. So I’d rather say a wheel economy, it's exactly the same idea” External link

rian-en Saturday, July 20, 2019 6:39:00 PM EAT

Steve Keen comments ( about William Nordhaus ) : “That is a situation we shall have to confront over the next two decades We know that we are using about 1.6 times the reproductive capacity of the planet, so we have to make changes, and I am afraid to say that if we had done this 40 years ago, if we hadn’t been kyboshed by economists, derailing limits to growth and throwing their garbage, pardon me, like that produced by Nobel prize winner William Nordhaus in its place. Now we are really close to the crunch point and it is becoming obvious how much we have over-extended the boundaries of the planet, people will be forced into rationing. I can see everything being similar to what we went through in the Second World War with military enforcement of rationing, and hopefully, this is undertaken on an international scale so that the burden is born more by Americans than it is by Indians” External link

ruvr-en Saturday, July 20, 2019 6:07:00 PM EAT

Steve Keen comments : “I read a brilliant book by a mathematician a few decades ago called ‘Dynamic Economic Systems’ by John Blatt. He had a punch line at one stage saying that what economists had done was so bad that capitalism itself might cease to exist before the dynamics of capitalism are properly understood. That was hyperbole 40 years ago, but seeing the state we are in now and seeing how little economists know now, that is certainly true. When we are forced to go into degrowth it certainly won’t be market mechanisms that make it work, it will be something like a war effort against the Nazis” External link

ruvr-en Saturday, July 20, 2019 6:07:00 PM EAT

Steve Keen says : “I would rather call it the wheel economy because even the idea of the circular economy doesn’t get the idea across properly. The wheel doesn’t turn unless it is pushed, and in that sense, a wheel is useless unless energy is pushed onto it from the outside. This is the reality of human society and human economies. So I’d rather say a wheel economy, it's exactly the same idea” External link

ruvr-en Saturday, July 20, 2019 6:07:00 PM EAT

Steve Keen asks : “a labour and capital theory of production. Production without energy?” External link

greenpeace Saturday, March 30, 2019 3:24:00 PM EAT

Steve Keen concludes : “no amount of exhorting banks to ‘Intermediate’ will end the drought in credit growth that is the real cause of The Great Malaise” External link

globalresearch Friday, February 22, 2019 4:03:00 PM EAT

Steve Keen answers ( about The UK ) : "This is one of the areas where there is an attempt by non-orthodox economists to help people understand the reality of how governments think about money. After the Second World War, a lot of American economists realized that they had financed the war effectively by money creation. They issued bonds to finance it, and these bonds were issued by its central bank, and that is what gave it the ability to dramatically industrialize from the depths of the Great Depression when 20% of the population was unemployed in 1937. There was a huge mobilization of the entire country. Everybody had a job and inflation was kept under control, rationing played a role here as well. What they saw was that the government did not actually have the money to spend, it created it by spending, and then taxed it to take it out of circulation to prevent inflation or the trade deficit being run up.The UK government is not financially restrained, it is restrained by the resources in its economy, and it is restrained by its capability to create new resources by investment, but it's not restrained by money because in that sense it has an infinite capability to create money. The government has its own bank; it is called The Bank of England Despite what May might have said, the government does have a magic money tree; it's called the central bank, which can be mobilized. It is easy to create money but harder to know how to deploy it, and that is where the difficult decisions come in" External link

ruvr-en Saturday, February 2, 2019 5:43:00 PM EAT

Steve Keen answers ( about British ) : "Will the British government have to raise taxes, is that the issue?" External link

ruvr-en Saturday, February 2, 2019 5:43:00 PM EAT

Steve Keen answers ( about The UK ) : "This is one of the areas where there is an attempt by non-orthodox economists to help people understand the reality of how governments think about money. After the Second World War, a lot of American economists realized that they had financed the war effectively by money creation. They issued bonds to finance it, and these bonds were issued by its central bank, and that is what gave it the ability to dramatically industrialize from the depths of the Great Depression when 20% of the population was unemployed in 1937. There was a huge mobilization of the entire country. Everybody had a job and inflation was kept under control, rationing played a role here as well. What they saw was that the government did not actually have the money to spend, it created it by spending, and then taxed it to take it out of circulation to prevent inflation or the trade deficit being run up.The UK government is not financially restrained, it is restrained by the resources in its economy, and it is restrained by its capability to create new resources by investment, but it's not restrained by money because in that sense it has an infinite capability to create money. The government has its own bank; it is called The Bank of England Despite what May might have said, the government does have a magic money tree; it's called the central bank, which can be mobilized. It is easy to create money but harder to know how to deploy it, and that is where the difficult decisions come in" External link

rian-en Saturday, February 2, 2019 5:17:00 PM EAT

Steve Keen answers ( about British ) : "Will the British government have to raise taxes, is that the issue?" External link

rian-en Saturday, February 2, 2019 5:17:00 PM EAT

Steve Keen writes : “They face the junkie’s dilemma, a choice between going ‘cold turkey’ now, or continuing to shoot up on credit and experience a bigger bust later,” External link

taipeitimes Tuesday, August 15, 2017 9:39:00 PM EAT

Steve Keen said : “It’s a poker game right now,” External link

nytimes Friday, February 13, 2015 2:34:00 AM EAT



Key Titles and Phrases Count Lang Last Seen
professor32.10%EN06/30/201730/06/2017
kingston university professor3.70%EN06/30/201730/06/2017
economist24.69%EN03/06/201706/03/2017
colleague1.23%EN03/06/201706/03/2017
chief1.23%EN03/06/201706/03/2017
universitaire2.47%FR02/04/201704/02/2017
professor of economics2.47%EN01/24/201724/01/2017
economist professor24.69%EN12/10/201610/12/2016
author professor4.94%EN07/25/201625/07/2016
forecaster2.47%EN06/24/201624/06/2016
Names Lang Count
Steve KeenEN82.76%
Steve KeenFR10.34%
Steve KeenES6.90%


 
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Steve Keen

Last updated on 2017-06-30T16:06+0300.

About this image

sign

Quotes... Extracted quotes from

Steve Keen said ( about The UK ) : “The UK will be looking for trade partners for its exports that might suffer from Brexit, and the main area of interest to them [as far as Russia is concerned] will probably be pharmaceuticals,” External link

ruvr-en Wednesday, September 4, 2019 1:54:00 PM EAT

Steve Keen said ( about The UK ) : “The UK will be looking for trade partners for its exports that might suffer from Brexit, and the main area of interest to them [as far as Russia is concerned] will probably be pharmaceuticals,” External link

rian-en Wednesday, September 4, 2019 1:40:00 PM EAT

Steve Keen told : “When the Federal Reserve, ignoring that, puts up interest rates in the belief they’ll just try to control an economy that might be starting to overheat because of low unemployment, they actually increase the burden on people who are carrying that debt, and they decide to de-lever. So you fall back into a slump again. And this is what we’re going through now. We’re just repeating the same mistake that Japan made back in 1990,” External link

ruvr-en Friday, August 16, 2019 2:48:00 AM EAT

Steve Keen said : “That’s the bottom line behind all of the shenanigans that we’ve seen recently,” “That’s what’s been driving the ups and downs of the economy. But the Fed completely ignores this stuff” External link

ruvr-en Friday, August 16, 2019 2:48:00 AM EAT

Steve Keen explained : “So when there’s a boom going on, because the rate of creation of new money is the change in debt, that clears much, much higher than the level of interest. But if the economy starts to falter, as we’re seeing right now, then that can go down to zero, but you still have to pay interest on the debt,” “Particularly, if you put up the interest rate, which is what the Federal Reserve has been doing for the last few years, that increases the interest rates component of that debt drag, and as it keeps on going up, firms decide to put off investment, they’ve got higher debt servicing costs, and they stop investing, and the economy slows down” External link

ruvr-en Friday, August 16, 2019 2:48:00 AM EAT

Steve Keen told : “When the Federal Reserve, ignoring that, puts up interest rates in the belief they’ll just try to control an economy that might be starting to overheat because of low unemployment, they actually increase the burden on people who are carrying that debt, and they decide to de-lever. So you fall back into a slump again. And this is what we’re going through now. We’re just repeating the same mistake that Japan made back in 1990,” External link

rian-en Friday, August 16, 2019 2:16:00 AM EAT

Steve Keen said : “That’s the bottom line behind all of the shenanigans that we’ve seen recently,” “That’s what’s been driving the ups and downs of the economy. But the Fed completely ignores this stuff” External link

rian-en Friday, August 16, 2019 2:16:00 AM EAT

Steve Keen explained : “So when there’s a boom going on, because the rate of creation of new money is the change in debt, that clears much, much higher than the level of interest. But if the economy starts to falter, as we’re seeing right now, then that can go down to zero, but you still have to pay interest on the debt,” “Particularly, if you put up the interest rate, which is what the Federal Reserve has been doing for the last few years, that increases the interest rates component of that debt drag, and as it keeps on going up, firms decide to put off investment, they’ve got higher debt servicing costs, and they stop investing, and the economy slows down” External link

rian-en Friday, August 16, 2019 2:16:00 AM EAT

Steve Keen comments ( about William Nordhaus ) : “That is a situation we shall have to confront over the next two decades We know that we are using about 1.6 times the reproductive capacity of the planet, so we have to make changes, and I am afraid to say that if we had done this 40 years ago, if we hadn’t been kyboshed by economists, derailing limits to growth and throwing their garbage, pardon me, like that produced by Nobel prize winner William Nordhaus in its place. Now we are really close to the crunch point and it is becoming obvious how much we have over-extended the boundaries of the planet, people will be forced into rationing. I can see everything being similar to what we went through in the Second World War with military enforcement of rationing, and hopefully, this is undertaken on an international scale so that the burden is born more by Americans than it is by Indians” External link

rian-en Saturday, July 20, 2019 6:39:00 PM EAT

Steve Keen comments : “I read a brilliant book by a mathematician a few decades ago called ‘Dynamic Economic Systems’ by John Blatt. He had a punch line at one stage saying that what economists had done was so bad that capitalism itself might cease to exist before the dynamics of capitalism are properly understood. That was hyperbole 40 years ago, but seeing the state we are in now and seeing how little economists know now, that is certainly true. When we are forced to go into degrowth it certainly won’t be market mechanisms that make it work, it will be something like a war effort against the Nazis” External link

rian-en Saturday, July 20, 2019 6:39:00 PM EAT

Steve Keen says : “I would rather call it the wheel economy because even the idea of the circular economy doesn’t get the idea across properly. The wheel doesn’t turn unless it is pushed, and in that sense, a wheel is useless unless energy is pushed onto it from the outside. This is the reality of human society and human economies. So I’d rather say a wheel economy, it's exactly the same idea” External link

rian-en Saturday, July 20, 2019 6:39:00 PM EAT

Steve Keen comments ( about William Nordhaus ) : “That is a situation we shall have to confront over the next two decades We know that we are using about 1.6 times the reproductive capacity of the planet, so we have to make changes, and I am afraid to say that if we had done this 40 years ago, if we hadn’t been kyboshed by economists, derailing limits to growth and throwing their garbage, pardon me, like that produced by Nobel prize winner William Nordhaus in its place. Now we are really close to the crunch point and it is becoming obvious how much we have over-extended the boundaries of the planet, people will be forced into rationing. I can see everything being similar to what we went through in the Second World War with military enforcement of rationing, and hopefully, this is undertaken on an international scale so that the burden is born more by Americans than it is by Indians” External link

ruvr-en Saturday, July 20, 2019 6:07:00 PM EAT

Steve Keen comments : “I read a brilliant book by a mathematician a few decades ago called ‘Dynamic Economic Systems’ by John Blatt. He had a punch line at one stage saying that what economists had done was so bad that capitalism itself might cease to exist before the dynamics of capitalism are properly understood. That was hyperbole 40 years ago, but seeing the state we are in now and seeing how little economists know now, that is certainly true. When we are forced to go into degrowth it certainly won’t be market mechanisms that make it work, it will be something like a war effort against the Nazis” External link

ruvr-en Saturday, July 20, 2019 6:07:00 PM EAT

Steve Keen says : “I would rather call it the wheel economy because even the idea of the circular economy doesn’t get the idea across properly. The wheel doesn’t turn unless it is pushed, and in that sense, a wheel is useless unless energy is pushed onto it from the outside. This is the reality of human society and human economies. So I’d rather say a wheel economy, it's exactly the same idea” External link

ruvr-en Saturday, July 20, 2019 6:07:00 PM EAT

Steve Keen asks : “a labour and capital theory of production. Production without energy?” External link

greenpeace Saturday, March 30, 2019 3:24:00 PM EAT

Steve Keen concludes : “no amount of exhorting banks to ‘Intermediate’ will end the drought in credit growth that is the real cause of The Great Malaise” External link

globalresearch Friday, February 22, 2019 4:03:00 PM EAT

Steve Keen answers ( about The UK ) : "This is one of the areas where there is an attempt by non-orthodox economists to help people understand the reality of how governments think about money. After the Second World War, a lot of American economists realized that they had financed the war effectively by money creation. They issued bonds to finance it, and these bonds were issued by its central bank, and that is what gave it the ability to dramatically industrialize from the depths of the Great Depression when 20% of the population was unemployed in 1937. There was a huge mobilization of the entire country. Everybody had a job and inflation was kept under control, rationing played a role here as well. What they saw was that the government did not actually have the money to spend, it created it by spending, and then taxed it to take it out of circulation to prevent inflation or the trade deficit being run up.The UK government is not financially restrained, it is restrained by the resources in its economy, and it is restrained by its capability to create new resources by investment, but it's not restrained by money because in that sense it has an infinite capability to create money. The government has its own bank; it is called The Bank of England Despite what May might have said, the government does have a magic money tree; it's called the central bank, which can be mobilized. It is easy to create money but harder to know how to deploy it, and that is where the difficult decisions come in" External link

ruvr-en Saturday, February 2, 2019 5:43:00 PM EAT

Steve Keen answers ( about British ) : "Will the British government have to raise taxes, is that the issue?" External link

ruvr-en Saturday, February 2, 2019 5:43:00 PM EAT

Steve Keen answers ( about The UK ) : "This is one of the areas where there is an attempt by non-orthodox economists to help people understand the reality of how governments think about money. After the Second World War, a lot of American economists realized that they had financed the war effectively by money creation. They issued bonds to finance it, and these bonds were issued by its central bank, and that is what gave it the ability to dramatically industrialize from the depths of the Great Depression when 20% of the population was unemployed in 1937. There was a huge mobilization of the entire country. Everybody had a job and inflation was kept under control, rationing played a role here as well. What they saw was that the government did not actually have the money to spend, it created it by spending, and then taxed it to take it out of circulation to prevent inflation or the trade deficit being run up.The UK government is not financially restrained, it is restrained by the resources in its economy, and it is restrained by its capability to create new resources by investment, but it's not restrained by money because in that sense it has an infinite capability to create money. The government has its own bank; it is called The Bank of England Despite what May might have said, the government does have a magic money tree; it's called the central bank, which can be mobilized. It is easy to create money but harder to know how to deploy it, and that is where the difficult decisions come in" External link

rian-en Saturday, February 2, 2019 5:17:00 PM EAT

Steve Keen answers ( about British ) : "Will the British government have to raise taxes, is that the issue?" External link

rian-en Saturday, February 2, 2019 5:17:00 PM EAT

Steve Keen writes : “They face the junkie’s dilemma, a choice between going ‘cold turkey’ now, or continuing to shoot up on credit and experience a bigger bust later,” External link

taipeitimes Tuesday, August 15, 2017 9:39:00 PM EAT

Steve Keen said : “It’s a poker game right now,” External link

nytimes Friday, February 13, 2015 2:34:00 AM EAT



Key Titles and Phrases Count Lang Last Seen
professor32.10%EN06/30/201730/06/2017
kingston university professor3.70%EN06/30/201730/06/2017
economist24.69%EN03/06/201706/03/2017
colleague1.23%EN03/06/201706/03/2017
chief1.23%EN03/06/201706/03/2017
universitaire2.47%FR02/04/201704/02/2017
professor of economics2.47%EN01/24/201724/01/2017
economist professor24.69%EN12/10/201610/12/2016
author professor4.94%EN07/25/201625/07/2016
forecaster2.47%EN06/24/201624/06/2016
Names Lang Count
Steve KeenEN82.76%
Steve KeenFR10.34%
Steve KeenES6.90%


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Monday, October 25, 2021

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