DFA Live Q&A HD Replay: Steve Keen: Why Real World Economics Matters!
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- Опубліковано 10 чер 2024
- This is an edited version of live discussion, with Professor Steve Keen.
Steve Keen is an Australian economist and author, highly critical of neoclassical economics as inconsistent, unscientific, and empirically unsupported. Mainstream economist have in effect damaged society and the planet because of what they don't know!. There are better ways to think about what's going on. His latest book The New Economics.
profstevekeen.substack.com/
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Caveat Emptor! Note: this is NOT financial or property advice!!
I love your work Martin and the way you explain things for us non-economists.
If Steve Keen wants to give his climate opinions, I suggest he does it on a climate podcast with Ian Plimer or one of the other thousands of scientists who have a different view about man made climate change that Mainstream peddle.
Martin you’re a legend 💪
Thanks Martin for having Steve on. Great discussion.
Thanks, you are welcome...
Need to watch this a few time to try and understand what is being said as it’s an avalanche of information. Thank you for information a lot of concepts to try and get my head around.
I have worked in financial industry and this concept is not known by people who have worked with banks over 20 years! i follow Steve Keen thats why i knew this 14:56.
Great interview! Thank you.
Our pleasure!
Economics is just another word for make the rich richer!
Correction - Jeff Kennett became premier of Victoria in 1992, The State Bank of Victoria collapsed in 1990. Steve Keen is wrong.
again!
I believe Steve was making the point that Kennett came into power as a reaction to the failure of banks. So "correct".
I think Steve has been watching to much CNN
Michael Caine, should go back to catching bats!
Fantastic video and to think I've been pondering so many of the ridiculous economic analysis the last 2 decades and the ramping up of reactionary economic policy wandering why we have well paid "credentailled economists " relentlessly so far off course constantly and even doing the same thing and ignoring such huge swathes of unacknowledged outcomes- to think Steve Keen is classified as a "renegade" .
It's farcical.
Some similar themes have always been bandied about by Stiglitz, Naomi Klein etc etc and I just don't know why any of this is not even implied strategically into the Australian economic architecture.
One of my favourite tools for dealing with and managing complexity is to "assume you are wrong, and look for the first signs of it."
Economics is dealing with complexity, yet they know very little about it...
2:20: People disappointed with 'Albo'. Yeah having truly mad levels of immigration, with the express purpose to make an essential cost of living rise in price (housing), would do that.
I reckon they've realized they mismanaged the price rises.
Australian governments over the last 30 years, have used housing to 'regulate' the economy, largely by carefully managing the level of scarcity. Labor has miscalculated this pretty badly.
Can’t believe you fell for the hate trump narrative lol. Otherwise fantastic video as usual! Very informative
No change!. This whole video was pointless! Bring on Steve Spiers!
R-Rated!
⭐⭐⭐⭐⭐
I would have alot more respect for this guy if he was wasn't a left wing climate extremist. thank you martin for bringing the interview back to things like Aussie finance, banks and economics
Bit triggered are we...?
What he's really getting at is not that climate change is or isn't happening, it's that their economic models are wrong and making it far worse. Not just climate, but pretty much everything they do is wrong. And he's dead to rights on that!
We are now debt slaves. I wanted to sell and get out of farming, but someone would have to become a debt slave. I could just ask that the real estate just sell to one of keatings rich boomers for cash and no damage done to economy.
NOW? we always have been since the birth certificate!
What a shame they removed the 👎
Signing out when he reveals himself as a climate change nut
In the next century people will laugh about the 21st century climate loonies.
The climate system is going to break down with the inevitable decline in resources. Logic, We live in a finite world, impossible to have infinite growth. That means the way of life we enjoy now ( Mostly taken for granted) is a short term exercise. But.. perhaps has 500 years to go. The problem is the solutions proposed may slow this down slightly but its inevitable. Things like banning international tourism and crypto could only be implemented by a marxist or totalitarian regime. So maybe that buys another 100 years or so. But is that worth the misery for people that exist now? And what international policeman is going to force the already totalitarian/ communist regimes to stop using these resources? So if we in Aus were to ban the sale of coal for example what stops them just coming and getting it.
Im reading Tom Hollands book Dominion at the moment and what it brings home to me is how much we take for granted and why belief in a God has always been a human condition. Im an agnostic but recognise these sorts of problems are too overwhelming to face and why humans turn to the religious. As for the economic points i think the guest makes some sense in my limited knowledge of the subject.
Yeah good points! I'm not expecting 500 more years. 200 years would be my guess.
Yes 500 is a bit optimistic. When the Roman Empire fell it took a couple of hundred years. But perhaps we are in fast forward pace now.