A Debunking Economics listener asked for a podcast on the role of Shadow Banks. In particular, he wanted to know if shadow banks create money in the same way as conventional banks. The quick answer is, no, because they are not able to create deposits – but they do increase the ability for banks to extend more loans. Phil Dobbie talks to Prof Steve Keen about the role of shadow banks and asks, do they need to be curtailed? And, if so, how? It’s an issue that’s been flagged by Janet Yellen, Governor of the Federal Reserve in the US, who flagged that the influence of shadow banking on the financial system is hard to measure.
To hear the full version subscribe by picking a plan in the right column of the Debunking Economics website (not the mobile app). Or become a patron at https://www.patreon.com/ProfSteveKeen
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When will teleworking take off?
Why do we insist on going into the office every day? The technology is there for us to work from home for part of the week.
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Growth. Do We Really Need It?
Why is the economy is dependent on growth. Is it psychological – that we like to think we are better off – or is there a mathematical reason that demands growth?
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Aussies Snub Technology for In-Person Meetings
New research from Citrix Online shows that Australians are more reluctant than most to engage in online meetings.
