Steve Keen | Rate cut both courageous and a failure


As the Reserve Bank of Australia cuts its rate by a full 1%, Steve Keen says it’s a move that should be applauded – but it is also an admission of failure.

Writing for Crikey, Keen says that the RBA and other Central Banks around the world must bear responsibility for current crisis. He explains why the neoclassical economic vision is wrong and warns that negative inflation is likely to lead to a Depression.

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