Over the past decade, the world’s central banks have distorted the price of money by bringing interest rates to record lows.
With credit so cheap, asset prices have risen dramatically as companies and governments have borrowed to the hilt.
On top of all that, it takes energy for an economy to function and conventional economists have assumed energy away. The debt predicament would be hard enough on its own. Without sufficient energy it’s impossible to solve, and mainstream economists cling to absurd notions of how the world works.
To discuss this massive problem and propose some potential solutions is Steve Keen, professor of economics at Kingston University in London and author of Debunking Economics.
Click the play button below to listen to Chris’ interview with Steve Keen (59m:55s).
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