Steve Keen on private debt & Australia, bitcoin as an enduring platform
Steve Keen is a well-known economist, considered one of the leading critics of mainstream economics’ treatment of debt and money. His focus is debt, and specifically how Hyman Minsky’s ‘financial instability hypothesis’ is reflected in highly-indebted economies. He is currently working on an ambitious mathematical model of financial instability called simply, ‘Minsky’.
Erin Ade spoke with Dr. Keen about debt generally and private debt specifically as well as the Australian economy. Also, Erin and Edward Harrison discuss how bitcoin purchases at casino hotels will be processed through BitPay, a service that streamlines transactions using tablet and mobile interfaces. Could bitcoin itself crash and burn but the platform and application endure anyway?