AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Steve Keen: “Mythonomics”
The Great Simplification with Nate Hagens
The Indogenous Theory of Money
4min Snip
00:00
Summary
Transcript
Episode notes
The bank of england has now very well articulated, which is i'm grateful for, because ten or 15 years ago, people didn't believe me when i was talking about that. The kean saw tatagardminski is that credit is part of aggregate demand and aggregate income. So the change in debt is literally a one for one contribution to demand right now. And of course, credit can be positive or negative. But if you have rising debt, credit is positive, adding to demand but subtracting from demand. That's what caused the financial crisis. It all comes down to differing marginal propensities to consume.
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode