I hate to say it but steve keen is an academic economist from UWS in sydney, not known for the strength of its economics faculty. I agree with much of his academic work including what he has to say about neoclassical and mainstream economics, but the fact is he is trying to be the aussie version of peter schiff and make a buck selling books by spruiking dooms day scenarios. He came out during the height of the histeria during the stockmarket crash last year and told mums and dads their homes would devalue 40%. why??? Because he knew people were panicking, that it would scare people and get a headline, and that he would make a buck. He's a leach in my opinion, not a serious economist.
Let me make it clear that I agree with some of the analysis of these guys. Especially the idea that debt to GDP increasing in an historical sense, much of which has gone in to consumption, combined with recent quantitative easing (which hasn't been done in 40 years), has the potential to devalue the USD and import a hell of a lot of inflation to our shores. But these guys have a lot of shortcomings as well... the main one is that the way they operate: they are the equivalent of 'a current affair' or the daily telegraph of the economics world. If they were genuine, they would write peer reviewed articles in respected journals to get these ideas out there. Then governments and policy makers might consider them. Hocking off books to scared punters during a recession does nothing but line their own pockets.
