Published in: openDemocracyUKThe Keen-Krugman debate
The debate between these two economists on the role of banking and specifically the creation of credit is of fundamental importance in understanding the shortcomings of orthodox economic thinking - and why it was so ill-equipped to handle, let alone predict, the crash of 2008.
Published in: HomeThe Euro as the SDR of Europe?
By converting the Euro to a supranational means of settlement underpinned by Euro-National currencies, both devaluation and the Euro's survival may be achieved, albeit at heavy loss to creditors. This would, more than anything, come close to Keynes' vision for the Bancor, and give a localised Bretton Woods for the 21st century.