The economic science and the debt crisis (the Swedish TV program "World of Science, Nov. 19th 2012)
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"Vetenskapens värld (14-18) ekonomivetenskapen och skuldkrisen" 12.11.19-2000(SVT2) 95 % of the interviews are in English. The excellent weekly Swedish TV program, "The World of Science" ('Vetenskapens värld') at 20:00 hours today broadcasted a program on economic theory and the financial crisis. Focus was on debt and productive investment, and the elimination of the financial and banking sector in economic theory. - and how the financial sector went from a lubricant to being a parasite and a Ponzi scheme. The NEP conference in Berlin and George Soros were mentioned briefly. The crisis has released criticism against neo-classical economics, Kunghof's model shows how debt increased the wealth differences and imploded the system. The banks and austerity are blamed. Debt has to be sanitized. Sweden is heading towards a debt crisis. Slowly a new consensus is building within the community of economists: The financial sector has become too large and must shrink. But which? Debt has be be restructured and written off.
Comments
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Centralbanking, which is regulation, is doomed to fail. The book "Man, Economy and the State" by Murray Rothbard is an excellent book that demonstrates how economy and markets really work and then how they should not work but do anyway.
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Here's a version in HD with English subtitles: goo.gl\qiunw
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Hi Arno, do you plan to add English subtitles?
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Excellent program. Even if you don't understand Swedish!
59m 16sLenght
25Rating