Other, , Prof. Steven Keen
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Updated On 02 Feb, 19
4.1 ( 11 )
I use the model developed in the first half to show that money is not neutral in a credit-based economy--a higher rate of money creation results in a fall in unemployment--and also model a credit crunch. I also model two government policies to counter a crunch giving money to the banks (which Obama did) and giving it to the debtors (which the Australian government did). Conventional money multiplier theory argues that the former is more effective; I show that the latter is about three times better than the former.
Sep 12, 2018
Excellent course helped me understand topic that i couldn't while attendinfg my college.
March 29, 2019
Great course. Thank you very much.