Here’s a good outline by Australian economist Steve Keen of Minsky’s theory and our current debt situation. Enjoy.

Ancient Jewish law calls for a “year of jubilee” with all debts forgiven every 50 years to give everyone a new start -with plenty of warning to all concerned, debtors and creditors alike.  Dr. Steve Keen (ht Naked Capitalism and Credit Writedowns) says we need a Debt jubilee now or else…