{"id":16046,"date":"2014-02-04T16:00:00","date_gmt":"2014-02-04T21:00:00","guid":{"rendered":"http:\/\/ssgreenberg.name\/PoliticsBlog\/?p=16046"},"modified":"2014-02-04T16:00:00","modified_gmt":"2014-02-04T21:00:00","slug":"steve-keen-a-computer-simulation-of-monetary-dynamics","status":"publish","type":"post","link":"https:\/\/ssgreenberg.name\/PoliticsBlog\/2014\/02\/04\/steve-keen-a-computer-simulation-of-monetary-dynamics\/","title":{"rendered":"Steve Keen: A Computer Simulation of Monetary Dynamics"},"content":{"rendered":"<p>On the <em>Institute for New Economic Thinking<\/em> web site, I found the interview <strong><a title=\"The Institute For New Economic Thinking interview\" href=\"http:\/\/ineteconomics.org\/new-economic-thinking\/steve-keen-computer-simulation-monetary-dynamics\" target=\"_blank\">Steve Keen: A Computer Simulation of Monetary Dynamics<\/a><\/strong>.&nbsp; I think I have hit the mother lode, and it will take me a couple of blog posts to cover what I have just discovered.<\/p>\n<blockquote><p>\nThe financial crisis that ran from 2007 to 2009 has been called a &#8220;Minsky Moment,&#8221; meaning it offered a much-needed reminder to all economists of Hyman Minsky&#8217;s neglected dictum that &#8220;capitalism is essentially a financial system.&#8221; <\/p>\n<p>But even with this reminder, it is hard to know what to do next, since it is difficult to express Minsky&#8217;s vision using the standard equilibrium methods of economics. Arguably that is one reason that Minsky has remained a minority taste in economics.\n<\/p><\/blockquote>\n<div style=\"text-align:center\">\n    <iframe loading=\"lazy\" width=\"560\" height=\"315\" src=\"\/\/www.youtube-nocookie.com\/embed\/WODCdSnN7u8?rel=0\" style=\"border:thick ridge #009900\" allowfullscreen><\/iframe>\n<\/div>\n<pre>\r\n<\/pre>\n<p>This interview is just the beginning of the pay-off of my learning about this line of thinking.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On the Institute for New Economic Thinking web site, I found the interview Steve Keen: A Computer Simulation of Monetary Dynamics.&nbsp; I think I have hit the mother lode, and it will take me a couple of blog posts to cover what I have just discovered. The financial crisis that ran from 2007 to 2009 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[166],"tags":[],"class_list":{"0":"post-16046","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-stevegsposts","7":"czr-hentry"},"_links":{"self":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/16046","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/comments?post=16046"}],"version-history":[{"count":1,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/16046\/revisions"}],"predecessor-version":[{"id":16047,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/16046\/revisions\/16047"}],"wp:attachment":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/media?parent=16046"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/categories?post=16046"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/tags?post=16046"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}