TJ:  Austrians see folly in the very idea of ‘monetary policy’. They favor separation of money and state, and predict the market would once again choose silver and gold(and perhaps bitcoin) as parallel monies.
“Monetary policy” is akin to saying “ruler policy” where we change the definition of a foot from 12 inches to 10 inches or 15 inches depending on politics, which would be ridiculous.

The positions are irreconcilable as Prof. Keen takes a position that is politically far away from Austrian-ism, namely bank ability to emit money and credit is fundamentally OK and not the root cause of business cycles. Whereas to Austrians, this is essentially the Great Evil(tm) of our age.

It seems Minksy never read any Mises, because Minsky’s foundational observation was explained In Mises’s most famous work, the Theory of Money and Credit. Ignorance of such gurantees “Minsky Moments” that Prof. Keen has eloquently described.

Sadly, this is typical with many of the world’s best “renegade” economists. They are often brilliant on 99% of issues, except for the last 1% which is unfortunately the most important part politically.

“The proper role of the Fed is to disappear” – Murray Rothbard

Me:  Yes, well that is why I favor an integration of the Austrian desire to see price deflation and the policies of a universal dividend direct to the individual and a deflationary discount to retail prices. That way the consumer, with his adequate purchasing power money-vote….would actually be in control of who survives economically….not the state or a private institution like the FED who dominates the state.