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Join 10,000 Other Truth-Seekers by Downloading my new 'Funny Money' Bundle for Free at https://new.stevekeenfree.com -- "The tensions between our basic humanity and the capitalist machine can transform society over time." Dive deep with Steve Keen as he unpacks Karl Marx's revolutionary ideas and their relevance in today's world. Discover how Marx's concept of dialectics, and his critique of value in capitalist societies, still hold powerful insights into our modern economic systems. From ancient trade practices to today's factories, Steve challenges us to rethink the values driving our economy. -- 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
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Join 10,000 Other Truth-Seekers by Downloading my new 'Funny Money' Bundle for Free at https://new.stevekeenfree.com -- "The tensions between our basic humanity and the capitalist machine can transform society over time." Dive deep with Steve Keen as he unpacks Karl Marx's revolutionary ideas and their relevance in today's world. Discover how Marx's concept of dialectics, and his critique of value in capitalist societies, still hold powerful insights into our modern economic systems. From ancient trade practices to today's factories, Steve challenges us to rethink the values driving our economy. -- 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
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| Join 10,000 Other Truth-Seekers by Downloading my new 'Funny Money' Bundle for Free at https://new.stevekeenfree.com -- "The tensions between our basic humanity and the capitalist machine can transform society over time." Dive deep with Steve Keen as he unpacks Karl Marx's revolutionary ideas and their relevance in today's world. Discover how Marx's concept of dialectics, and his critique of value in capitalist societies, still hold powerful insights into our modern economic systems. From ancient trade practices to today's factories, Steve challenges us to rethink the values driving our economy. -- 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. |
Metabolic Rift JBF
This is the one I wanted to have a follow up. Thanks Lex! Thanks Steve !!
I would love a follow-up interview on Lex. It’s so exciting to see fantastic MMT minds getting more exposure. Thanks, Professor Keen!
The only fundamental input is energy (more precisely energy differential), because it is the raw material to which every other input can be traced. Everything that exists is made out of it, and if something has a function, energy is required to perform it. Labor is the organized application of energy, which originates from the Sun and other stars. Either we eat biologically stored solar energy in the form of organic chemicals and do work with it, or we use stored stellar energy to power machines to do work.
Utility is the only fundamental value, and exchange value is derivative of utility. Money is an abstraction of value, as are many commodities, in part. Commodities don't have either exchange value or utility, they always have both, unless they are in surplus supply everywhere. If they have no utility, they aren't true commodities. Capitalism did not invent exchange value, nor were emperors agnostic of it.
Evil genius
Lex Fridman or Steve Keen?
It's one thing to itemize every object in society and include it in "the economy" in the common Materialistic fashion, that is as a consequence of having to use languages to apply utilitarian values to the life of the developing child, and family values spread valuations across all participants in society. This is why there's a never ending conflict between sibling greed or social responsibility and the Totality of the global ecology.
Every individual is a "democratic anarchist" (David Greaber) by default, and the Truth in Labelling required to see holography as-it-is, the illusion of separation / delusion of authoritarian importance and sense of entitlement.