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Honorary Professor of Economics, UCL

Steve was one of the handful of economists to realise that a serious economic crisis was coming our way, and to publicly warn of it from as early as December 2005 ( This, and his pioneering work on modelling debt-deflation, resulted in him winning the Revere Award from the Real World Economics Review ( for being the economist whose work is most likely to prevent a future financial crisis. He maintains a highly influential blog on economics ( and his book Debunking Economics (2nd edition 2011) is a classic exposition of why Neoclassical economic theory is not only wrong, but more of a threat to the survival of capitalism than any number of left-wing revolutionaries (a third & final edition will be published in 2021).

He has over 70 academic publications on topics as diverse as financial instability, the money creation process, mathematical flaws in the conventional model of supply and demand, flaws in Marxian economics, the application of physics to economics, Islamic finance, and the role of chaos and complexity theory in economics


  • 2018–present
    Honorary Professor, University College London
  • 2014–2018
    Professor, Kingston University London
  • 1996–2013
    Professor, University of Western Sydney


  • 1998 
    University of New South Wales, PhD (Economics)

Grants and Contracts

  • 2011
    Extending Monetary Macroeconomics and Developing a Dynamic Monetary Simulation Tool
    Chief Investigator
    Funding Source:
    Institute for New Economic Thinking

Research Areas

  • Macroeconomics (Incl. Monetary And Fiscal Theory) (140212)
  • Heterodox Economics (149903)
  • Mathematical Software (080204)


Winner, Revere Award: see