Debt, a great invention is the first episode of a video lecture by Dirk Bezemer from the University of Groningen. It covers how debt and money systems developped over the years into the financial system we have today. All modern money is debt created by banks and this system has and can potentially bring us great wealth.
How bubbles grow is the second episode of a video lecture by Dirk Bezemer from the University of Groningen. It covers how debt and money can be created by banks for both productive and non-productive purposes. With non-productive purposes mainly being asset markets. Here excessive debt causes the prices of these assets to go up. The market does not correct for this. This leads to bubbles and a large debt burden which are a drag on the economy.
Why crises occur is the third episode of a video lecture by Dirk Bezemer from the University of Groningen. It covers how a debt fuelled asset bubble is always doomed to burst. This leads to a selve enforcing process of debt reduction that spirals into the real economy. This is why we call our crisis today a debt crisis or a credit
The post-bubble economy is the fourth and final episode of a video lecture by Dirk Bezemer from the University of Groningen. After exploring how money is debt created by banks and how this can both help and hurt our economy.
Is it possible to create an economic system that does not produce bubbles and crises? And is it possible to solve our current debt crisis?
We need to restructure unsustainable debt, redirect bank lending to productive purposes and get productive bank lending going again. And finally the economic science should pay close attention to Debt, one of its most important variables.
Note: All four episodes can be accessed through the playlist below.
Finance Documentaries: http://www.financedocumentaries.com/2013/08/debt-good-bad-and-ugly.html