Top all-time · #2374
Steve Keen
Personal blog · debtdeflation.comeconomics
Steve Keen's personal blog at debtdeflation.com covers economics. Since 2009, 35 different Hacker News readers have linked it 79 times, most often “A Modern Debt Jubilee”. No feed was found, so read it on the site itself.
Most-linked posts?
- /blogs/9 people · 12 mentions · first linked 2010-02-15
- /blogs/2009/01/31/therovingcavaliersofcredit/5 people · 6 mentions · first linked 2010-11-07
- A Modern Debt Jubilee4 people · 10 mentions · first linked 2012-03-01
- Minsky: SourceForge Project (economic model)3 people · 7 mentions · first linked 2014-01-22
- /blogs/2012/07/22/the-crisis-in-1000-words-or-less/2 people · 2 mentions · first linked 2014-03-19
- /blogs/2016/08/19/incorporating-energy-into-production-functions/2 people · 2 mentions · first linked 2018-03-17
What Hacker News says?
Nicely done. I'm looking forward to going through your code and design. It's a great addition to the set of games that help us get our head around these things. Simple models have existed for a while that show the horizontal circuit can be stable. Here's my correction of Steve Keen's initial horizontal circuit from 2010[0] What you'll find is that the unemployment buffer stock that is disciplining inflation, not the…
Comment linking /blogs/2012/01/11/guest-post-a-double-entry-view-on-the-keen-circuit-model/comment-page-4/
on “Show HN: A central bank simulator game with a realistic economic model”Submitted The story of the financial crisis, from one of the people who predicted it as a story · 22 points
HN discussionHighly recommend reading Steve Keen's "The Roving Cavaliers of Credit" for a dose of reality on the whole process. tl;dr "banks extend credit, creating deposits in the process, and look for reserves later" http://www.debtdeflation.com/blogs/2009/01/31/therovingcaval...
Comment linking /blogs/2009/01/31/therovingcavaliersofcredit/
on “What happens when a culture is driven by the need for money to make more money”Submitted Economic Analysis Explains 1945-2010 Economic Growth and Decline Fueled By Debt as a story · 4 points
HN discussionNifty. At a basic level, if applied to economic thinking, we get what preofessor Steve Keen has been working on with his Minsky software. http://www.debtdeflation.com/blogs/minsky/
Comment linking /blogs/minsky/
on “Loopy: a tool for thinking in systems”Submitted The Looting of China by the Kleptokapitalist Bourgeoisie Roaders as a story · 3 points
HN discussionIt's OK if you filter out the Neo-classical economics and free (unregulated) markets are good bias. I haven't read it much since 2008 though so it may have changed tack but I doubt it. http://www.debtdeflation.com/blogs/ I've been reading Steve Keen's blog and he makes much more sense than other prominent economists. He was one of the few to predict the crash with a model which can actually generate crashes unlike m…
Comment linking /blogs/
on “What are the most intellectually stimulating websites you know of?”Submitted A Modern Debt Jubilee as a story · 2 points
HN discussion"The variable delta between rent and purchase price/mortgage cost doesn't break the premise that purchasing a house is a hedge against future requirements." But it does break the premise "but so does the cost of shelter." There is an advantage to sell while it's a seller's market and rent, while doing the opposite while it's a buyer's market. That's leverage that breaks this premise. "You might do better renting but…
Comment linking /blogs/
on “You Are Naturally Short Housing”Submitted The need for pluralism in economics as a story · 2 points
HN discussionThe variable delta between rent and purchase price/mortgage cost doesn't break the premise that purchasing a house is a hedge against future requirements. You might do better renting but you don't have the future right to occupy that house at any cost. Rents might go up more than your investments and leave you needing to look elsewhere but if you have bought it you have a secure tenancy (subject to mortgage conditio…
Comment linking /blogs/
on “You Are Naturally Short Housing”Submitted Minsky: SourceForge Project (economic model) as a story · 1 points
HN discussionAdding to this, also check out the work of Steve Keen, of Debunking Economics fame. He has been expanding on Minsky for years, and posted quite a few great lectures on his Youtube channel: http://www.debtdeflation.com/blogs/research/ https://www.youtube.com/user/ProfSteveKeen
Comment linking /blogs/research/
on “Six big economic ideas [pdf]”Submitted Famous chaos models in Minsky (open source monetary modelling tool) as a story · 1 points
HN discussionSteve Keen is doing some interesting stuff incorporating energy into economics - here's some of his older stuff - http://www.debtdeflation.com/blogs/2016/08/19/incorporating-... - if you google a bit I think he's developed that further (probably some of his lectures which are available on YouTube are where the newer stuff would be - I'm not sure if he's published much of it yet)
Comment linking /blogs/2016/08/19/incorporating-energy-into-production-functions/
on “Money creation in the modern economy (2014) [pdf]”Submitted The Debtwatch Manifesto as a story · 1 points
HN discussionHighly recommend this article for a dose of reality (he also covers the theory of money creation) http://www.debtdeflation.com/blogs/2009/01/31/therovingcaval...
Comment linking /blogs/2009/01/31/therovingcavaliersofcredit/
on “Money creation in the modern economy (2014) [pdf]”Submitted Minsky: Modelling complex monetary system as a story · 1 points
HN discussionActually, the GP's explanation is closer to true than yours is. I was taught the same explanation you gave, but it doesn't fit the facts on the ground. Banks don't base the loans they issue on deposits (the closest to this they come are the capital requirements regulators impose on them), they base them on models of the borrower's ability to repay and on models of the ability to resell the loan (aka 'securitization'…
Comment linking /blogs/
on “Debt Worldwide Hits Record $86k per Person”Submitted Steve Keen - How I learnt to stop worrying and love The Bank as a story · 1 points
HN discussionNumber 3 will not create inflation. Not in all cases and not in our current environment. That is a myth pushed by the banks in order to keep the current system in place. Debt spends the same as money. We have already had the inflation, paid for with debt. Now the debt system is becoming unstable and will lead to deflation unless we put non-debt spending power in the average persons hands. Read Keen's site, he explai…
Comment linking /blogs/manifesto/
on “One way to fight a coronavirus recession: $1k for every American”Submitted Steve Keen's Paper on the Economics of the Depression as a story · 1 points
HN discussionObviously there is a level that makes sense and a level that does not. Using the big-bank/government debt-system to manage our money supply is no more or less free market than a citizens dividend, it just ensures that the wealthy get first dibs on the new money and then the rest of us pay interest on it. Steve Keen's idea for a modern debt jubilee is more important for the long term growth of the economy: http://www…
Comment linking /blogs/manifesto/
on “One way to fight a coronavirus recession: $1k for every American”Submitted Video talk about the growth of an economics blog as a story · 1 points
HN discussionI mean reserves don't actually constrain lending: http://www.debtdeflation.com/blogs/2012/04/02/ptolemaic-econ... Edit, also: http://www.debtdeflation.com/blogs/2012/03/29/krugman-on-or-...
Comment linking /blogs/2012/03/29/krugman-on-or-maybe-off-keen/
on “Georgia to mandate personal finance education”Submitted Australian Economist Steve Keen talks at Google as a story · 1 points
HN discussionIf you are interested in economic modelling have a look at Minsky.[1][2] It isn't that pretty and it is in (C++ and Tcl/Tk) rather than Python but Steve Keen's Minsky project looks like an interesting take on macroeconomic modelling (rather than microeconomic simulation). It was Kickstarter funded (at least partially). Steve Keen was predicting a big debt triggered crash before 2008 and believes in economic models t…
Comment linking /blogs/2013/09/10/famous-models-of-chaos-in-minsky/
on “Economics Simulation”Submitted Some historical perspective on the economic crisis that is yet to come as a story · 1 points
HN discussionThis is the way Europe and the US are going too with quantitive easing it is just that Japan is a couple of decades ahead. We need proper helicopter money (or a Modern Jubilee) going to the public to spend not to purchase assets at the benefit of existing asset holders. http://www.debtdeflation.com/blogs/manifesto/ See - "A Modern Jubilee" (I'm not sure about the Jubilee Shares part though).
Comment linking /blogs/manifesto/
on “Bank of Japan Is an Estimated Top 10 Holder in 90% of the Nikkei 225”Submitted The Financial Crisis and the Systemic Failure of Academic Economics as a story · 1 points
HN discussion
