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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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Steve Keen considers the following as important:
This could be interesting, too:
Lars Pålsson Syll writes From one old guy to another old guy
Lars Pålsson Syll writes The pretence-of-knowledge syndrome
Lars Pålsson Syll writes Släpp skuldbromsen!
Lars Pålsson Syll writes Music that heals my soul in troubled times
| 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. |
Engineers, Finance, IT Pros, and Economic Enthusiasts: Learn 50+ years of Real Economics in only 7 Weeks. Weekly with me. Learn more: https://apply.stevekeenfree.com
Hey Steve, please also include the name of your very interesting conversation partner in the title or at least in the description of this video.
Maybe even a link for his book 😉
It's a mistake to reduce everything to energy and money, because we must first become acutely aware of our Earth's limits, which have unavoidable consequences:
1. Earth has finite dimensions, which implies that the quantity of natural resources is finite, including fossil fuels.
2. The capacity of the Earth's recycling and regeneration cycles is limited, which means that if we create more waste and destruction than the Earth can recycle and regenerate, then we are destroying the environment that sustains us.
3. The only truly available non-polluting energy is the energy of the sun's rays.
4. The only non-polluting method of producing energy is photosynthesis.
From this point on, it's clear that it's an illusion to believe that finding ways of producing unlimited energy will solve all our problems. In fact, the opposite is true, since more energy means more destruction of our environment in order to consume more. Humanity is doomed to extinction if it does not VOLUNTARILY limit itself to what the Earth can recycle or regenerate.
Too much AI which is then nonsense.. fo musketeers
Good piece but the title is a bait-and-switch. That's not a good look.
So much insanity… just staaaahp!!!
Europe is destroyed — by your theories… we don’t need your lies
Total lies, propaganda and nonsense!
Fossils were charged up by biological metabolic processes. If we assume no fossils exist, that's the lower bound instantaneous output of ecology. If we cut down trees and replace them with dry monoculture rows, then the metabolic capacity goes down. Same goes if we delete 1% of insects per year, have microplastics reduce agricultural yields 5-15% worldwide, toxify with PFAS and spray pesticides everywhere and kill microbes. The underlying lower limit is hydrology and biomass. The rest is a temporary drawdown of nature's bank account. Metabolism is king.
Interesting topic but hard to listen to with the editing.
The Technocrats of Technocracy Inc. had this all figured out back in the 30’s. They saw that applying science to the social mechanism was the only way for our survival. To have an energy based system will require giving up the scarcity based economic price system. Wake up to reality the scarcity based price economic outdated system has to go or we go.
There are no "renewable energies" there are only "renewable scams"
Energy tyranny to "save the planet"? Chilling
❗Taking forever using technical terms ad infinitum and dropping names using no ECONOMY of words to make a point ! Confusing, you do yourselves a disservice.
Steve Keen always has problems explaining how government gets its supposed economic or moral super-competence, super-knowledge, and super-goodness.
Because it doesn't exist.
hey Prof Keen how about you model Kalecki/Levy profit equation in Minsky in next video?
Our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.
People believe their currency has the worth it does because they have no other option. Even in a hyper inflationary environment, individuals must continue to use their hyper inflationary currency since they likely have minimal access to other currencies or gold/silver coins.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.!!
I've stuck with SOPHIE LYNN CARRABUS since the pandemic, and her performance has been consistently impressive. She’s quite known in her field with over two decades of experience, simply look her up.
Thank you for sharing, I must say, SOPHIE appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled a call
The current rate of primary energy consumption can be cut down to 1/3 using renewable energy. We are wasting 2/3 of our energy trying to get the energy from the source fossil fuels in the ground to the consumer. The benefit of renewables is overwhelmingly positive. The health benefits are never talked about enough either.
Of course the USA is wrong, anything Trump touches goes down the drain.
I have watched several videos that Dr. Steve Keen has created, and his discussion of economic models and the flaws in many of the classical models and their assumptions.
I came across an article that addressed the GDP/Energy correlation probably 20 years ago. I could never find it again as I tried to learn more about that topic. I think they have with their models as discussed here found the most realistic approach. Energy is key. Historically it's role in different forms was key. And once models/theories were created to explain more complex economic systems, to leave it out was a huge error. Now to go watch the one about the US debt. The huge elephant in the room, that is and has been making a huge mess.
A theoretical economist (this guy) criticizing a practical experienced economist (Trump); book-learning vs. practical experience. Practical experience will win every time.
BTW,
Q; do you know why God made weathermen?
A: so economists wouldn't feel so alone.
Just a light tome for vacation reading!!😂😂😂😂
Everyone use closed captioning, turn off your sound.