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If you enjoyed this video, you might also like my most popular video, "Don't Study Economics, Study THIS Instead." https://www.youtube.com/watch?v=oO7iCv_NsPE -- Who is Dr. Steve Keen? Dr. Steve Keen is an influential economist who has dedicated over 50 years to challenging mainstream economic theories. Since his days as a university student, he has been engaged in a David vs. Goliath battle against conventional economic models. Holding a Ph.D. in economics, Dr. Keen is well-known for his critical analysis and advocacy for more realistic economic approaches. His work emphasizes the importance of accounting for financial instability and incorporates elements of complex systems theory. Engineers, finance professionals, and IT experts will appreciate his methodical breakdown of economic
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If you enjoyed this video, you might also like my most popular video, "Don't Study Economics, Study THIS Instead." https://www.youtube.com/watch?v=oO7iCv_NsPE -- Who is Dr. Steve Keen? Dr. Steve Keen is an influential economist who has dedicated over 50 years to challenging mainstream economic theories. Since his days as a university student, he has been engaged in a David vs. Goliath battle against conventional economic models. Holding a Ph.D. in economics, Dr. Keen is well-known for his critical analysis and advocacy for more realistic economic approaches. His work emphasizes the importance of accounting for financial instability and incorporates elements of complex systems theory. Engineers, finance professionals, and IT experts will appreciate his methodical breakdown of economic
Topics:
Steve Keen considers the following as important:
This could be interesting, too:
New Economics Foundation writes Is the Labour government delivering on its promises?
John Quiggin writes Dispensing with the US-centric financial system
New Economics Foundation writes Whose growth is it anyway?
Matias Vernengo writes What is heterodox economics?
| If you enjoyed this video, you might also like my most popular video, "Don't Study Economics, Study THIS Instead." https://www.youtube.com/watch?v=oO7iCv_NsPE -- Who is Dr. Steve Keen? Dr. Steve Keen is an influential economist who has dedicated over 50 years to challenging mainstream economic theories. Since his days as a university student, he has been engaged in a David vs. Goliath battle against conventional economic models. Holding a Ph.D. in economics, Dr. Keen is well-known for his critical analysis and advocacy for more realistic economic approaches. His work emphasizes the importance of accounting for financial instability and incorporates elements of complex systems theory. Engineers, finance professionals, and IT experts will appreciate his methodical breakdown of economic phenomena and his development of the Minsky software, which models financial crises. Dr. Keen's contributions are crucial for anyone seeking a deeper understanding of how economic systems can impact technological and financial environments. His teachings offer valuable insights into the economic forces shaping our world. By following his analysis, professionals can gain a better grasp of economic dynamics that influence their fields. |
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11:30 – Doctor who isolated Ebola needed 42 days to prevent spreading
14:10 – . . . The rest is history
28:17 –
28:33 – On Screen
Examples of stochastic events include: * The growth of a bacterial population
* An electrical current fluctuating due to thermal noise
* The movement of a gas molecule * Floods, droughts, and other catastrophes
14:53 – How did Ty include stochasitc events in Ravel ?
_______ Stochasticity is used in many fields, including: Image processing, signal processing, computer science, information theory, telecommunications, chemistry, ecology, neuroscience, physics, and cryptography.
14:32 – A model of a pandemic event in detail
36:42 – on screen
38:10 – . . . when I saw the simulation of the model . . .
44:10 – On screen
46:00 – 3 variables
Hey Steve and Ty, I couldn't follow every detail, but One thing I know: you guys and your models need to be heard in and employed by government into very relevant positions!! 🙏🤙🇩🇪
The Laws of Physics do not care about Economics.
But Physics causes Technology, be it Capital or Consumer Goods, to wear out. So where is the data on the Depreciation of Durable Consumer Goods in the NET Domestic Product equation?
Oh right, economists hardly talk about the NDP.
Planned Obsolescence is too good for GDP.
Hi Steve,
Thanks for sharing your insightful content over the years. I’d love to get your perspective on the following topic:
GLOBAL GOLD REPATRIATION & POTENTIAL GOVERNMENT DEBT REVALUATION
The ongoing country-level gold repatriation worldwide. (London & NY vaults cannot keep up with demand)
The steady rise in gold prices.+40% rise in the last 12 months currently $2,886 per oz
The understanding the US Treasury holds gold at a low $35-40 per oz (notional value) way below the market value above.
The potential for the US/Trump to revalue gold on the US balance sheet reducing national debt
The the big question what are the potential impact scenarios to global currencies and global government debt
I have not covered all important point, I'm sure you understand where I'm going. Would make an excellent podcast or Youtube episode.
Thanks again
Investment not Consumption is driving the economy. This is a critical insight for the future of the Living Planet. Invest in restoration and the economy and ecosystem will thrive.
Thanks, this is a great video. Your comments towards the end if I understood property that the rate of change of the S&P 500 can be predicted by the equity level in Firms really has me thinking. Could it be simplified by thinking about a macro 'Market Price * Earnings' ratio? So if Firms are spending more on wages, earnings reduce and the market price falls. If workers spend more earnings rise and the market price rises? Thats probably way too simple! But if there are other 'macro ratios' out there, perhaps you could predict the value of other non-financial assets? For example, if mortgage loans are extended at a particular loan to income value, and mortgages drive house prices, perhaps you could also find a way of predicting movements in house prices based on aggregated household incomes?
You can find out more about Ty's work on this front at https://appliedmmt.com/
Professor Keen – Great Video! Unrelated Request: Do you have a perspective on Georgist ideology you would be willing to share? Thank you
Well, ok, I got about an hour into it, and although I've heard of most of the components, really this does not correspond to the title: you would need to have a good prior understanding of the subject to get much out of it. I was initially looking for something quite different, which might have been more useful, but was seduced by the title.
I created a model that tracked the Corona Virus spread here at my little city in Brazil. It worked very well and used differential equations solution to the logistics equation. I determined empirically that the true function here was a mixture of an exponential and a linear function (easy to explain). Would you like to see the model?
Sure. DId you use Ravel to create it?
Regarding ventilators, does dying because of being on the vent have any relation to being dead if you didn't get on the vent?