21 Jun 2012

Economic growth, asset markets and the credit accelerator

"According to the U.S. National Bureau of Economic Research, the “Great Recession”is now two years behind us, but the recovery that normally follows a recession has not occurred. While growth did rise for a while, it has been anaemic compared to the norm after a recession, and it is already trending down..."
"The only sure road to recovery is debt abolition—but that will require defeating the political power of the finance sector, and ending the influence of neoclassical economists on economic policy. That day is still a long way off."

Steve Keen's recent paper for the Real-World Economics Review. 57.

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Keep is seemly & on-topic. Thanks.