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Lecture05 Why Economists Disagree: The common blindspot on the Environment

Summary:
The posi­tion of the econ­omy in the envi­ron­ment is a shared blindspot in eco­nom­ics: no exist­ing school han­dles the topic well, and yet this is the key issue we need to under­stand. I explain the Laws of Thermodynamics–as well as I could in an intro­duc­tory class with­out using mathematics–and pro­vide some links to impor­tant top­ics that stu­dents wouldn’t nor­mally hear about in an eco­nom­ics degree. [embedded content] Click here for the Pow­er­point slides.

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The posi­tion of the econ­omy in the envi­ron­ment is a shared blindspot in eco­nom­ics: no exist­ing school han­dles the topic well, and yet this is the key issue we need to under­stand. I explain the Laws of Thermodynamics–as well as I could in an intro­duc­tory class with­out using mathematics–and pro­vide some links to impor­tant top­ics that stu­dents wouldn’t nor­mally hear about in an eco­nom­ics degree.

Click here for the Pow­er­point slides.

Steve Keen
Steve Keen (born 28 March 1953) is an Australian-born, British-based economist and author. He considers himself a post-Keynesian, criticising neoclassical economics as inconsistent, unscientific and empirically unsupported. The major influences on Keen's thinking about economics include John Maynard Keynes, Karl Marx, Hyman Minsky, Piero Sraffa, Augusto Graziani, Joseph Alois Schumpeter, Thorstein Veblen, and François Quesnay.

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