{"id":2824,"date":"2011-12-02T15:45:45","date_gmt":"2011-12-02T20:45:45","guid":{"rendered":"http:\/\/www.multiplier-effect.org\/?p=2824"},"modified":"2011-12-06T08:30:37","modified_gmt":"2011-12-06T13:30:37","slug":"an-ideologically-useful-but-unrealistic-vision-of-capitalism","status":"publish","type":"post","link":"https:\/\/blogs.bard.edu\/multiplier-effect\/an-ideologically-useful-but-unrealistic-vision-of-capitalism\/","title":{"rendered":"&#8220;An ideologically useful but unrealistic vision of capitalism&#8221;"},"content":{"rendered":"<p>A great series of videos at <a href=\"http:\/\/ineteconomics.org\/blog\/inet\/steve-keen-why-he-saw-it-coming-and-others-did-not\">INET<\/a> collecting clips from Robert Johnson&#8217;s interview of Steve Keen, who is among those (few) credited with seeing the financial crisis coming.\u00a0 Hyman Minsky&#8217;s work has played a large role in Keen&#8217;s own thinking on this.\u00a0 In this particular clip, Keen talks about the ways in which economists have been taught to assume an unhelpful story about the way in which banks operate and touches on the basic idea of endogenous money.<\/p>\n<p><iframe loading=\"lazy\" src=\"http:\/\/ineteconomics.org\/ivideo?v=lty44Sslpaw&amp;size=medium\" width=\"400\" height=\"224\"><\/iframe><\/p>\n<p>Along similar lines:\u00a0 this <a href=\"http:\/\/www.levyinstitute.org\/pubs\/wp_612.pdf\">working paper<\/a> by Randall Wray looks at what banks actually do (and what role the financial sector <em>should<\/em> ideally play in an economy) in the context of examining Minsky&#8217;s later work at the Levy Institute on restructuring the American financial system.\u00a0 (Policy brief version <a href=\"http:\/\/www.levyinstitute.org\/publications\/?docid=1301\">here<\/a>).<\/p>\n<p>Also, take a look at the last <a href=\"http:\/\/ineteconomics.org\/blog\/inet\/steve-keen-why-he-saw-it-coming-and-others-did-not\">video<\/a> in which Keen talks about developing a monetary model of capitalism.\u00a0 For non-economists, this has to be among the more confusing claims to theoretical advancement.\u00a0 (&#8220;Wait &#8230; you mean there are economic models that don&#8217;t include <em>money<\/em>?\u00a0 Wh&#8230;&#8221;)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A great series of videos at INET collecting clips from Robert Johnson&#8217;s interview of Steve Keen, who is among those (few) credited with seeing the financial crisis coming.\u00a0 Hyman Minsky&#8217;s work has played a large role in Keen&#8217;s own thinking on this.\u00a0 In this particular clip, Keen talks about the ways in which economists have [&hellip;]<\/p>\n","protected":false},"author":202,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[24,1129,30,37],"class_list":["post-2824","post","type-post","status-publish","format-standard","hentry","category-financial-crisis","tag-credit","tag-financial-crisis","tag-minsky","tag-money-supply"],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts\/2824","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/users\/202"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/comments?post=2824"}],"version-history":[{"count":10,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts\/2824\/revisions"}],"predecessor-version":[{"id":2846,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts\/2824\/revisions\/2846"}],"wp:attachment":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/media?parent=2824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/categories?post=2824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/tags?post=2824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}