5min chapter

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#303 – Steve Keen: Marxism, Capitalism, and Economics

Lex Fridman Podcast

CHAPTER

What's the Cost of the Great Depression?

The biggest danger in capitalism is the debt deflation, far more dangerous than inflation. The cause of debt deflation is too much lending and bank lending. And then we call badly a positive feedback loop that caused a collapse. That's why the stock market crash in 2019 was so devastating.

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