Steven Keen

steve-keen

Steve Keen is Professor of Economics & Finance at the University of Western Sydney, and author of the popular book Debunking Economics (the 2nd edition was published in 2011: see www.debunkingeconomics.com). Steve predicted the financial crisis as long ago as December 2005, and warned that back in 1995 that a period of apparent stability could merely be “the lull before the storm”. His leading role as one of the tiny minority of economists to both foresee the crisis and warn of it was recognized by his peers when he received the Revere Award from the Real World Economics Review for being the economist who most cogently warned of the crisis, and whose work is most likely to prevent future crises. He has over 70 academic publications on topics as diverse as financial instability, the money creation process, mathematical flaws in the conventional model of supply and demand, flaws in Marxian economics, the application of physics to economics, Islamic finance, and the role of chaos and complexity theory in economics. His work has been translated into Chinese, German and Russian.

Deflation Research & Commentary by Steven Keen

  • The Runaway Train of Debt

    20120419-rails

    This article was originally published in December 2006 in Steve Keen’s Debtwatch report. The good news is that there is a zero per cent prospect that the RBA will increase interest rates again before February 2006. The bad news is that the odds that private debt will exceed 150 per cent of GDP by then […]

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  • The Roving Cavaliers of Credit

    20120419-marx

    This article was originally published on January 31st, 2009 on Steve Keen’s Debtwatch. Ten years ago, a quote from Marx would have one deemed a socialist, and dismissed from polite debate. Today, such a quote can (and did, along with Charlie’s photo) appear in a feature in the Sydney Morning Herald—and not a few people […]

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  • The Recession We Can’t Avoid?

    This article was originally published in Steve Keen’s Monthly Debt Report November 2006 Private debt is by far the most important economic issue today–far more so than the rate of inflation–and that should be the focus of policy attention. Though inflation has risen recently, it is less than a quarter of the peak it reached […]

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Books & Subscription Services by Steven Keen

  • Commerce, Complexity, and Evolution

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    Commerce, Complexity, and Evolution is a significant contribution to the new paradigm straddling economics, finance, marketing, and management, which acknowledges that commercial systems are evolutionary systems, and must therefore be analysed using evolutionary tools. Evolutionary systems display complicated behaviours which are to a significant degree generated endogenously, rather than being solely the product of exogenous […]

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  • Debunking Economics: The Naked Emperor Dethroned?

    debunking-economics

    Debunking Economics exposes what many non-economists may have suspected and a minority of economists have long known: that economic theory is not only unpalatable, but also plain wrong. When the original Debunking Economics was published back in 2001, the market economy seemed invincible, and conventional “neoclassical” economic theory basked in the limelight. Steve Keen argued […]

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