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Do high mortgages slow growth?

Ask a conventional economist about household debt and they’ll say it’s not an issue. The money you spend on repayments won’t be spent on shopping, but whoever gets that money will spend it and keep it circulating. Phil Dobbie asks Prof Steve Keen whether, in that case, debt matters. Listen in to hear Steve’s explanation on why it does matter, and why high mortgage debt slows down the economy.

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 supporter of Steve Keen on Patreon at https://www.patreon.com/ProfSteveKeen

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