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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
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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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Top Economist? Never heard of you.. last video you posted AI video too.. Kinda hard to believe shit you say.
Edit: I bet instead of 50mil to gaza for condoms.. would of been nice to help fight the fires. or give those people more then 700$ dollars.. Newsome already talking about millionaires coming in to rebuild. Democrats make me sick to my stomach..
I wonder if Steve ever noticed that there are no economists that are billionaires?
Because they just talk theory. And have no actual skills irl..
He’s like I created a program that tells me I’m right.. this guys a genius to idiots
Musk knows and understands jack shit about engineering, which I think Mr Keen suspects and he is kinda jabbing at him. However I think Musk understands economics quite well and knows that gov budgets don't work like household budgets, but simply lies. If he is good at something it is investment, money and marketing. Marketing emphasized on hype and flatout lies.
He lies, to get an excuse from the masses to gut out federal state. "I must balance the budget or the US will fall!". And scared angry person in red hat agress enthusiastically, while his social security check gets frozen and agencies who were in place to protect him get destroyed.
What!!! Is he totally stupid. Cant he even count? Elon is a fake. I warned about him 3 yets ago. The richest in America has panic over their own fault of sucking every dollar out of the people, government and country so the economic situation is vors than terrible by for centuries moving most of their businesses to other countries. They also in panic because now they notice that the countries they moved to has with their money developed to competition, a competition that has become much better in every part of business like manufacturing, science, development and quality. So the panic is enormous among the richest in America. So they come up with a plan, do massive of extreme right wing capitalist politics propaganda, and manipulate people from the truth and let them be engaged and get angry to small stupid topics like, gay, transgender, covid, left or voke, climate change, immigration, gun laws, blame fake media and all others that not agree. And they have the perfect way to do this, they own most media, they have a very easy manipulate target group in MMA, WWF and many more or less in criminal group like neo natzi, Mc gangs, the millions of not educated, and of course the idiot influencers on social media like Joe, Ben, Jordan … and many more that do anything for money and feed their attention desperation. But they needed a popular face to do this. It was stupid Elon, the man that has information of every one by his spy satellites, his massive internet control. And he was really in panic and needed all peoples tax money he could get because his continued failure and the competition that now has tured out to be better. And at the same time they found the perfect leader, a very narcissistic and stupid Trump, filled with lies, crimes and scams. With no remorse or responsible, just a massive dictator to make it better for the richest to the cost of the people.
Elon and Trump, both in big economic problems, both more or less criminals, both attention desperate narcissisd. So of course they were the easiest persons to get to do what the richest wanted and very easy to control.
The really sad part that in any right wing capitalist politics people have had it better, except for the richest. And when a right wing capitalist government and country they all do the same to manipulate their people in blaming others. And then they provoke and start war and conflicts with other countries. Just as we see Trump do now to Canada, Mexico, Greenland, Venezuela, Gaza, Iraq, Europe ..
Private debt? Here in the USofA credit cards are being issued with rates up to 34%. Good credit can get 19.9%! Now that’s “inflation”.
one catch is that Elon doesn't acrually believe any of this. He's a wannabe fascist demagogue. He just makes stuff up to confuse and manipulate people so he can keep grabbing power
How does this apply to the tax breaks? I assume there still needs to be a balance between what money governments have to take in and how much it creates. It seems to me that this administration is going to cause instability by chaos and limited federal income.
Can you be our shadow president and not Elon
A brilliant explanation. Very well grounded model of iur current financial system.
Fascinating. I came away with this immediate question and I apologize if it’s something you already dressed, but – – – what if the interest payments become you know several trillion 8 trillion whatever will the Fed simply increase the money supply to meet that value and does that just go on and on or is there some limit?
Elon Musk is stuck on trial and error. He's willing to burn down the house and then try to fix it later to say he's right.
Clearly this is a simplified model so it's missing a lot of nuance, but you stopped the revised model as it appeared to be linearly growing the interest rates on the federal debt without showing how that impacts an escalation in the debt interest payments (compounds the borrowing). This new model makes two assumptions: the economy is entirely self contained (there are no external countries/currencies extracting value), and that increased GDP guarantees an increase in spendable income for the federal government. Neither of these are true… This model sidesteps the inflation debt spiral by just not talking about it… And a model that never falters… I feel like I've seen these before.
A fraudulent president telling you about the economy?
What makes anyone think they're going to tell you the truth?
I still don’t know why the hell Americas financial business has to do with Leon
Americans are still paying for Trumps first tax cut!!!!
You benefitted from it so please stop!!!
Man im a monster in excel, making models and tables related to budget, PnL and such but I have nothing going compared to you, well done sir!
There is no value without trust.
The model assumes infinite growth despite finite resources.
How many countries are dumb enough to have a foreign oligarch freezing all gov computers, freezing accounts, demanding access to records on everything and everyone. This deserves a violent end. Musk and Trump after beholden to China and Russia.