Put simply, if a social credit (a sum of money) was issued by the government to its citizens and recorded as an investment rather than a debt to be repaid, there would be a lot less commercial bank debt and therefore a lot […]
The Aggregate Demand Problem in Capitalism Solved
When Jean Baudrillard announced that the year 2000 would not take place, one had to suspect evil. It is no exaggeration to say that the financial crisis of 2008 was the only event of world historical significance in the new
The financial crisis in 2008 took place.
The 10th anniversary of the September collapse of the US financial system has led to a number of commentaries on the causes of the Lehman bankruptcy and cures for its aftermath. Most tend to focus on identifying the proximate causes
Minskyan reflections on the ides of September