Sounds to me like Keen is arguing for socialism - centralised banking and money creation for the good of the people. Sounds good until you factor in that every time men are given the power of gods, they abuse that power. I'd rather go to a system where money is not equal to debt and money is an actual commodity. This way, money is tied to the planet the same way we are, rather than a figment of the imagination of some human money creator / banker.

Keen does not factor in money.   Money is used to store accumulated Wealth/Value.   When ~50% of that is written off there is chaos.   One one big write off creates a chain of them.   So just print more money and give directly to the people?   So they can bid up another bubble?    Plus just handing the money to the people is fraut with fraud potential and there is no mediator so talk about pooring fuel on existing inflation. We lived a fiction fro the last 40 years and now we have to pay the price.

I am surprised at this episode featuring in the best of form Capital Report; it is rather the opposite with the normally excellent Lauren letting Prof Keen off the hook. The good professor is a keynesain-marxist who appears to have a very limited grasp of his subject area. He favours bid-state solutions and government intervention to solve the problems caused by previous rounds of big-state solutions and government intervention. He believes that printing little bits of green paper can make up better off. He believes that saving makes us worse off. He believes that he, or people like him have the wisdom to direct the lives of all of humanity although individual humans are prone to error.
In short he suffers from the pretense of knowledge.
The questions Lauren should have asked included:
1. Where is all this money coming from (answer- thin air)2. Won't printing all this money devalue the current stock of money, that is cause inflation (answer you bet it will)3. Isn't inflation just a stealthy manner of theft (ans: yes, even keynes knew this)4.Won't this inflation cause a disincentive for savers, resulting in less capital accumulation (and yes and that is what he is trying to achieve , cos he is a keynesian and he hates saving and savers)5.In the absence of voluntary capital accumulation, how can we get investment and capitalism (Ans: Government will solve this by printing money and directing investment)6. Isn't government controlled capitalism called fascism (Ans yes)7. Doesn't fascism eventually break down economically due to the lack of valid price signals (Ans yes, but often there is a war first)8. Doesn't all of of the above mean that Prof Keen knows just enough economics to be dangerous (Ans ?)
So Lauren, next time you come across this dangerous fool, go get him.