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Video: Steve Keen on his Debate with Paul Krugman

Fri, 06 Apr 2012 01:15:00 GMT

I couldn't have got the timing much better. Steve Keen recently joined the MoneyScience Advisory Panel and since then he has been embroiled in an interesting debate with Paul Krugman which has been reported, analysed and commented on just about anywhere you care to look in the blogosphere.

FT Alphaville explains that it all started when "Keen, who is a beneficiary of George Soros’ Institute for New Economic Thinking... published a summary of a paper.. which looks at why Hyman Minsky’s ideas are important and how they’ve been misunderstood/misappropriated."

I'm not going to go into the substance of the debate here (you can read a summary over at Unlearning Economics) but here's an interview with Steve Keen where he covers the basics for the non-wonkish and does a pretty good job of deflecting attention away from the process stories which seem to cling around Krugman. The interview starts about 2 minutes in.

Here at MoneyScience, for good reasons, I don't tend to take a view on academic scuffles in economics. The evident failure of orthodoxy and a tendency toward scientific scepticism means that I generally view most economic positions with suspicion, so I leave it to you to make at your mind. As ever, comments are appreciated.

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