[cmath] Fields Institute Public Lecture: Steve Keen (University of Western Sydney)

[Andrea Yeomans]

Public Lecture Announcement:

Why the Crisis is Not Over

Steve Keen (University of Western Sydney)

July 5, 2012 at 5:00 p.m.
Fields Institute, 222 College Street

Most post-WWII recessions have lasted less than a year; this crisis has been
going on for five. Conventional "Neoclassical" economists didn't see it
coming, can't understand why it hasn't gone away, and their preferred cure
of austerity seems to be making it worse. To understand where it came from,
why it hasn't gone away, and what might work to end it, you have to
understand the dynamics of private debt. Steve Keen's models, inspired by
Hyman Minsky's "Financial Instability Hypothesis", anticipated the crisis
and explain why it won't go away until private debt levels are drastically
reduced.

Steve Keen was one of the handful of economists to realize that a serious
economic crisis was imminent, and to publicly warn of it from as early as
December 2005. This, and his pioneering work on modeling debt-deflation,
resulted in him winning the Revere Award from the Real World Economics
Review for being the economist "who first and most clearly anticipated and
gave public warning of the Global Financial Collapse and whose work is most
likely to prevent another GFC in the future."

For more information, please visit
www.fields.utoronto.ca/programs/scientific/12-13/public_lectures