About the Icelandic Economy, the European Economic Crisis, debt and deflation. "Words ought to be a little wild..."
Monday, 13 February 2012
Steve Keen on Iceland's Financial System
Steve Keen was interviewed by Iceland Television 1 last Sunday. He was first and foremost talking about why the neoclassical economics was all wrong and how it was nonsense that "No one saw the crisis coming." He also mentioned why debt jubilee was basically needed in order to keep social peace and fascist powers at bay.
Regarding Iceland especially, he said: "What horrifies me is that you've got a financial system designed by neoclassical economists."
Ain't that right!!
You can see the interview here (in English, introduction in Icelandic to 0:30min):