Agenda: Thursday lecture is about adding up groups of stuff with pictures

I just want to put this out there in case anyone hates math. I am going to talk about the most basic unit of economic activity. It’s a path to understanding Godley tables.

I promise there will be no spreadsheets. Equations and proofs upon request, of course.

I’ll start with a brief overview of the historical origins starting in Mesopotamia…then to the Renaissance in Venice…the Industrial Revolution…a paper published in the 80s by Ellerman (who has cited Steve Keen in a post Keynesian journal)…and finally an analysis of the most basic economic unit that is holding up the entire world economy: the transaction (in pictures, not spreadsheets).

No negative numbers either.

I hope to see you all tomorrow. Thanks!

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