Steve Keen

The EU must face up to austerity's failures

As Greece's recovery stalls, the looming presidential election is likely to be a referendum on economic austerity.

Cameron steers the UK toward stagnation

David Cameron should consider the UK's private debt situation before cutting government spending and risk making the economic stagnation worse.

Sizing up the threat of China’s debt pile

If things do go pear-shaped in China, it’s likely to result in a more severe downturn than that experienced by the US in the wake of the financial crisis.

Predictable market chaos ahead

With margin debt reaching the levels seen before the 2000 and 2008 crashes, there's plenty to fuel a very large, and not-so-random, correction.

The economic theory wrecking Europe

Flawed economic reasoning has caused immense suffering throughout Europe and distracted attention from the real causes of the crisis.

Making sense of Scotland the brazen

That so many Scots voted in favour of independence highlights the toxic and painful legacy of British neoliberalism.

The ECB's eurozone medicine is nonsense

The ECB's decision to increase the trivial interest rate on private banks' reserve accounts will do little to change their lending behaviour.

Time for a Copernican revolution in economics

No mainstream economic model predicted the GFC, but alternative approaches are still largely ignored. The heavily-flawed traditional modelling approach needs some serious revisions, before the next financial crisis.

The truth about Australia's unemployment rate 'shocker'

According to the Australian Bureau of Statistics, the unemployment rate has supposedly risen 0.4 per cent, but other estimates suggest it has fallen. Which is more accurate?

Why the super rich are running scared of inequality

Even the wealthiest members of American society are worried about the dangers of rising inequality and private debt.

Are students revolting, or is it economics?

Mainstream economists have long ignored the dynamics of private debt, money and banks to their detriment. Now more than ever, a realistic and non-orthodox approach to economics is needed.

The good, the bad and the ugly of the Murray inquiry

The Murray inquiry's observations on financial advice, household debt and super are commendable, but its boneheaded proposal for the government to underwrite RMBS is a concern.

CBA's Bankwest burden fuels the allegation fire

Ian Narev has blamed his bank's financial planning scandal on 'poor advice' from a few individuals, but renewed allegations around CBA's Bankwest buy are potentially far worse and may not be so easily brushed aside.

Abbott needs to take a tougher line on financial planners

The fraud scandal in Commonwealth Bank's financial planning division highlights how a systemic sales culture has taken root in the financial sector. ASIC needs to act, but the Coalition's weak response won't help matters.

Europe takes a battering for Brussels' stability and growth delusions

For Southern Europe to climb out of its Great Depression, Brussels needs to admit defeat and finally abandon its foolish policy of trying to eliminate government deficits at any cost.

Why Europe's austerity experiment is doomed to fail

The bureaucrats in Brussels are convinced austerity will get Europe back on track. But comparing Greece’s experience to that of the US, it’s clear that these measures just compound the problem by forcing the private sector to deleverage further.

Genius versus bricks-and-mortar in the head

In 1983, Australian Terry Crews developed the world's first laptop, but the banks didn't think it was a project worth funding. Three decades later, he's about to launch a new device – only this time he's not at the mercy of a brain-dead financial sector.

Why industrial strength is born from diversity

Mainstream economic theory has long suggested that countries which specialise in production can reap the benefits of trade, but new research indicates that it's better for countries to diversify.

Why Clive Palmer speaks budget sense

Clive Palmer's astute observation on Australia's level of private debt highlights a central flaw in Hockey's budget policy that could put the economy in danger of contraction.

Another budget bounty for the Lucky Party?

Will the Liberal Party’s historic economic fortune hold for this budget? Balancing Joe Hockey’s books would seem to require Australian private sector debt around 250 per cent of GDP by 2025. That’s not an off-the-planet outcome.