The Great Debate©: Keen and Krugman on Money and Banking

by Steve Keen, Debtwatch with extensive quotations from Paul Krugman Editor’s note: There has been an ongoing exchange between Steve Keen and Paul Krugman over the way that money and banking should be accounted for in the macroeconomy.  Between spurts of invective there are some very important concepts being debated. Jetlag has me up and at …