Here is the first part of a new narrated visual tutorial:
This part covers the very basics, so you’re not likely to learn anything if you’ve followed this topic recently in the blogosphere or used the Macroeconomic Balance Sheet Visualizer… but I hope it might be helpful to those less familiar with the topic. The format also introduces a little more interactivity — the last page lets you create and repay loans, pay interest, and default on loans. I believe the non-video format has more potential than I’ve used it for so far — for example, it could include built in gamification and quizzes.
Part 2 will show the central bank’s involvement — including how reserve requirements, capital ratios, and cash withdrawals do not limit economy-wide lending — and other related topics that distinguish the Post-Keynesian understanding from the mainstream.
Since the How the Economy Works tutorial turned into a bit of a monster (at half an hour of narrated content plus lots of text-only additional details) I’m going to try making new tutorials as short as I possibly can… 2-5 minutes per tutorial seems to me a good upper limit to attempt, but I am happy to have feedback on this (or anything EconViz related!)