Keen Cambridge Lecture 2011

1,816 views · Published 26 November 2011 · 35:59 · Indexed 2 October 2026

Channel: ProfSteveKeen · 2011 · News & Politics

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This is a reasonably comprehensive lecture covering the failure of neoclassical macroeconomics to foresee the crisis (and the attempt by neoclassicals to avoid the consequences of this failure), the key reason why they are wrong about its persistence (the endogeneity of money), Minsky's "Financial Instability Hypothesis", my initial models of that Hypothesis, the development of a method to produce strictly monetary models of capitalism, and an overview of my multi-sectoral monetary model of production.

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