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Post #2083 263
Crypto talks a lot about macro.
But most of CT still does not really study how money is created, how bank credit works, or why debt drives crises.

That is why we invited Steve Keen.

If you do not know him: Steve Keen is one of the rare economists who saw the 2008 crisis coming for the right reason — the buildup of private debt and credit, not just “bad sentiment” or market noise.

One of the most important ideas from this conversation:
When a bank creates a loan, it also creates the money matching that loan.

If you miss that, you miss a huge part of how the modern economy actually works.

If we want to build new financial systems, programmable money, and better coordination mechanisms, we need to understand the system we are trying to replace, improve, or route around.

This is exactly why CT should know Steve Keen.

We talked about money creation, debt, crises, inflation, Bitcoin, and why crypto can become a lab for new monetary experiments.

Watch here: https://www.youtube.com/watch?v=YWdv51ZfjNo
YouTube Why the Economy Is Broken and How to Fix It Why do economists keep getting money wrong? In this conversation, Prof Steve Keen and Victor from Humanode break down how banks actually create money, why the 2008 crisis was really a collapse in credit, why austerity is political, when government spending…
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