VCO Fundamentals John McNeill Worcester Polytechnic Institute [email protected].
CHALLENGING the RECESSION Can we Change the Economy? Yes, we Can! Grand Committee Room April 23,...
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Transcript of CHALLENGING the RECESSION Can we Change the Economy? Yes, we Can! Grand Committee Room April 23,...
![Page 1: CHALLENGING the RECESSION Can we Change the Economy? Yes, we Can! Grand Committee Room April 23, 2009 Sabine K McNeill.](https://reader036.fdocuments.in/reader036/viewer/2022082601/5a4d1b727f8b9ab0599b5abf/html5/thumbnails/1.jpg)
CHALLENGING the RECESSION
Can we Change the Economy?Yes, we Can!
Grand Committee Room – April 23, 2009
Sabine K McNeill
![Page 2: CHALLENGING the RECESSION Can we Change the Economy? Yes, we Can! Grand Committee Room April 23, 2009 Sabine K McNeill.](https://reader036.fdocuments.in/reader036/viewer/2022082601/5a4d1b727f8b9ab0599b5abf/html5/thumbnails/2.jpg)
![Page 3: CHALLENGING the RECESSION Can we Change the Economy? Yes, we Can! Grand Committee Room April 23, 2009 Sabine K McNeill.](https://reader036.fdocuments.in/reader036/viewer/2022082601/5a4d1b727f8b9ab0599b5abf/html5/thumbnails/3.jpg)
Debunking Economics
• The Naked Emperor of the Social Sciences
• Steve Keen – Assistant Professor,
University of Western Sydney – www.debunking-economics.com
![Page 4: CHALLENGING the RECESSION Can we Change the Economy? Yes, we Can! Grand Committee Room April 23, 2009 Sabine K McNeill.](https://reader036.fdocuments.in/reader036/viewer/2022082601/5a4d1b727f8b9ab0599b5abf/html5/thumbnails/4.jpg)
The National Debt
• 1694: £1.2 million at 8%
• 1855
• 1998:DMO
![Page 5: CHALLENGING the RECESSION Can we Change the Economy? Yes, we Can! Grand Committee Room April 23, 2009 Sabine K McNeill.](https://reader036.fdocuments.in/reader036/viewer/2022082601/5a4d1b727f8b9ab0599b5abf/html5/thumbnails/5.jpg)
Cash & Credit
• Issued by States– Interest free
• Notes• Coin
• Cash : Credit Ratio– 1945: 48% : 52%– 1968: 29% : 71%– 2008: 3% : 97%
Bad Money (Broad M1)
• Issued by Banks– Interest bearing– Wholesale
• Monetary & Financial Institutions (MFIs)
• Private Non-Financial Corporations (PNFCs)
• Other Financial Corporations (OFCs)
– Retail • Consumer Credit
Good Money (Narrow M0)
![Page 6: CHALLENGING the RECESSION Can we Change the Economy? Yes, we Can! Grand Committee Room April 23, 2009 Sabine K McNeill.](https://reader036.fdocuments.in/reader036/viewer/2022082601/5a4d1b727f8b9ab0599b5abf/html5/thumbnails/6.jpg)
Today
![Page 7: CHALLENGING the RECESSION Can we Change the Economy? Yes, we Can! Grand Committee Room April 23, 2009 Sabine K McNeill.](https://reader036.fdocuments.in/reader036/viewer/2022082601/5a4d1b727f8b9ab0599b5abf/html5/thumbnails/7.jpg)
Onwards & Upwards