Anti-economist Steve Keen on the UK election

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In the run up to the UK General Election, I interviewed self-professed ‘anti-economist’ Steve Keen on the state of the British economy, the chances of a Labour victory and the future of politics after Brexit. This is the first of a two part interview. WHITE: As the UK goes to vote, the economy is the key question and the recent past will likely shape how people may vote. How would you describe the state of the UK economy? KEEN: It’s recovered partially from the financial crisis, but because none of the people in authority know what actually caused the financial … Continue reading

The causes of the 2008 crash

It’s always worth looking back. We are seeing a new economic crisis burgeoning in China. The yuan has been devalued, the stock market has sunk deep and now interest rates are being slashed to try and boost lending. In this case, we should look back to 2008 – as it was the last crisis, and we’ve yet to recover from it – to see what forces led to the crash. To understand where we’re going we must understand where we have been already. According to David Harvey, the causes of the 2008 financial crisis can be divided into six major factors: 1. The … Continue reading