Debt Matters: The Effects of Debt Deflation

We produced a new video to help summarize some of the pressing issues we're concerned about and how they are completely overlooked by neoclassical economists.

Why didn’t these “experts” know?

Steve Keen: “The post Keynes neoclassical school deals with the present by pretending we can predict the future accurately. It’s no damn wonder they didn’t see this crisis coming.”

Ann Pettifor: “But that financial liberalization which lead to the easy credit, which inflated the bubbles, the housing bubble out there, people have a complete blind spot for it. So if you do have a blind spot for that, you can’t analyze what’s going to happen because you can’t see it. You’re not looking at it...What have the bankers done to blind us to their activities? What have they done that we don’t see them in our lectures on economics? They’re not even included in books.”

“In every economics book there are chapters and chapters on inflation. There is nothing on deflation. And deflation is devastating for businesses, for individuals, for firms, for people.”

Directed by Genevieve Tran