Prof. Steve Keen, one of the world's leading economists, will arrive in Israel to participate in the "Globes" 2013 Israel Business Conference. Keen is one the 12 economists who predicted and warned about the financial crisis. Before that, he predicted the high-tech bubble and European sovereign debt crisis.
Prof. Keen, a professor of economics and finance at the University of Western Sydney, is a leading global expert in the Hyman Minsky financial instability hypothesis, and is a fierce critic of prevailing neoclassical economic theory. He says that national debt-to-GDP ratio are the root of the economic crisis, and if the political leadership chooses to continue to deal with the crisis with current tools, the world will face a severe recession that is liable to last at least two decades.
In 2010, Keen won the Real-World Economic Review's Revere Award together with Nuriel Roubini of New York University and Dean Baker and the Center of Economic and Policy Research for their quick and persuasive warning of the pending economic disaster. Prof. Keen writes a blog in which he publishes monthly reports about the Australian and American debt.
At the Israel Business Conference, Prof. Keen will participate in the session "The US: catch 22 the zero interest rate." The US economy is responsible for the current recovery and optimistic sentiment. American consumers are spending money once again. The session will offer answers on issues, such as, Will the end of the QE3 era reverse this trend, or will budget cuts and tax increases halt the American economy once again? Will a political crisis over future fiscal policy send the US into yet another double dip?
The other participants in the session will be Prof. Tyler Cowen, Professor of Economics at George Mason University, one of the most influential American economists in the world; IHS Global Insight EVP and chief economist Dr. Nariman Behravesh; former US Assistant Treasury Secretary for Economic Policy Prof. Richard Clarida, a global strategic advisor at PIMCO, and a Lowell Harris Professor of Economics at Columbia University. Channel 2 News head of the foreign news desk Arad Nir will be the moderator.
The 2013 "Globes" Israel Business Conference, the country's largest business conference, will be held this year under the title "The Global Economy in 2014". It is Israel's premier and most prestigious economic event, attended by decision-makers, businesspeople, government officials, academics, researchers, spokespersons, and delegations from Israel and around the world. The conference will offer analyses and insights by leading economics and academics, businesspeople, and policymakers from Israel and other countries.
Published by Globes [online], Israel business news - www.globes-online.com - on November 11, 2013
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