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Keen Amsterdam Rethinking Economics 01

Summary:
This is a critique of the truly appallingly bad work done by Neoclassical economists on climate change.

Topics:
Steve Keen considers the following as important:

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This is a critique of the truly appallingly bad work done by Neoclassical economists on climate change.
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.

21 comments

  1. Nordhaus should read some research from prof. dr. Marten Scheffer about tipping points in complex systems

    • TheCanMan Can Since 1990

      Any excuse to continue the Usury infact you can no longer even argue against it or we are all gonna die
      That my friend is a true violation of the social contract

    • @TheCanMan Can Since 1990 I'm not sure what usury has to do with Scheffers research 😉

  2. Boudi E J van Vlijmen

    One wonders what happened to science?

  3. TheCanMan Can Since 1990

    Close the forex an derivative markets
    Strictly like punishable by death enforce laws and collateral requirements for insurance real estate and how capital is allowed to flow
    Ie tax evasion finger removal
    Simply tax away the profit idle land speculation
    In the climate will fix itself

  4. Pizza? Doesn't that add to climate change with that hot oven? 😉

  5. Harry Kiralfy Broe

    Keep up the good work professor Keen. You are our only hope, right now.

  6. Truly eye opening. If this is the sort of research Trump is being presented with, no wonder he thinks its a hoax. This is what I like to call "soft denial" of climet change

  7. Bjorn Lomborg is not a climate change denier.

  8. Truly baffling Steve buys straight into man made climate change promoting Soros sponsored Extinction Rebellion world totalitarian crap at the same time saying the captain has to be killed, does he mean his benefitter Soros then or?

  9. You don't need to have discontinuity to exhibit a tipping point. A simple exponential function can do. See for instance, in electronics the diode with the Schockley model where, for conveniance, electronics engineers just assume a simple behavior. And it's quite easy to get exponentials even from simple linear differential equations…

  10. Dear Steve, climate change is but a symbolic manifestation for a much more significant change in our own story. Your work at present is like that of an individual cell in a 9 month old baby which is trying to figure out how to live forever inside the womb because all indicators seem to point that its existence is threatened. The future financial system is going to function in much the same way as our own body and how it distributes resources. Does this quote ring a bell? "From each according to his ability, to each according to his needs". That's the exact description of how energy is distributed in your own body. If you are truly an open minded revolutionary, then you will explore this new monetary theory: https://en.trm.creationmonetaire.info/ The highly centralized debt based monetary system is a mirror to the way a baby receives energy in the womb: via the placenta. You don't "reform" the placenta, you get rid of it once the baby is born and the umbilical cord is cut.

    • Nope. Money is the greatest human discovered/invented tool the Babylonians have given us.
      But keep learning. Some reading for you : 

      Barnes and Noble Routledge Classics set: Can "It" Happen Again? (Vol. 149) 1st Ed. by Hyman Minsky ISBN-13: 978-0873322133 ISBN-10: 0873322134 ISBN-13: 978-1138641952 ISBN-10: 1138641952
      1a.
      Book arrived 05 NOV 2019 : The Case for the Green New Deal
      By Ann Pettifor
      1b.
      Book arrived 12 NOV 2019 : A Planet to Win: Why We Need a Green New Deal
      By Kate Aronoff, Alyssa Battistoni, Daniel Aldana Cohen, Thea Riofrancos, Naomi Klein (Fwd)
      1c.
      A Global Green New Deal: Rethinking the Economic Recovery – 7 JUN 2010 By Edward B. Barbier
      1d.
      This Changes Everything: Capitalism vs. The Climate – 16 SEP 2014 By Naomi Klein
      1e.
      On Fire: The (Burning) Case for a Green New Deal – 17 SEP 2019 By Naomi Klein
      1f.
      The Green New Deal: Why We Need It And Can't Live Without It – And No, It's Not Socialism! – May 12, 2019 By Larry Jordan
      1g.
      The Green New Deal: Why the Fossil Fuel Civilization Will Collapse by 2028, and the Bold Economic Plan to Save Life on Earth – 10 SEP 2019 By Jeremy Rifkin
      1h.
      H.Res.109 – Recognizing the duty of the Federal Government to create a Green New Deal By Alexandria Ocasio-Cortez
      2.
      DIAGRAMS & DOLLARS by J D Alt
      3.
      THE MILLENNIAL's MONEY : Why the Next Power Generation CAN Afford to BUILD a Better World by J D Alt
      4.
      Can We Avoid Another Financial Crisis? (The Future of Capitalism) By Steve Keen
      5.
      Debunking Economics – Revised and Expanded Edition: The Naked Emperor Dethroned? By Steve Keen
      6.
      eCONcomics: Taking the CON Out of Economics By Steve Keen
      7.
      Fighting Bob La Follette: The Righteous Reformer By Nancy C Unger
      8.
      Bullshit Jobs: A Theory By David Graeber
      9.
      Debt – Updated and Expanded: The First 5,000 Years By David Graeber
      10.
      …and forgive them their debts: Lending, Foreclosure & Redemption From Bronze Age Finance to the Jubilee Year
      (THE TYRANNY OF DEBT) By Michael Hudson
      11.
      Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy By Michael Hudson
      12.
      J IS FOR JUNK ECONOMICS: A GUIDE TO REALITY IN AN AGE OF DECEPTION By Michael Hudson
      13.
      Essentials of Organizational Behavior: An Evidence-Based Approach By Terri A. Scandura
      14.
      The Complacent Class: The Self-Defeating Quest for the American Dream By Tyler Cowen
      15.
      The Oxford Handbook of Meaningful Work By Ruth Yeoman & Catherine Bailey & Adrian Madden
      16.
      Leading Lives That Matter: What We Should Do and Who We Should Be By Mark R. Schwen & Dorothy C. Bass
      17.
      Austerity: The History of a Dangerous Idea By Mark Blyth
      https://fivebooks.com/best-books/how-worlds-political-economy-works-mark-blyth/
      18.
      The Ponzi Factor: The Simple Truth About Investment Profits By Tan Liu
      ___ https://theponzifactor.com
      16.
      The New Confessions of an Economic Hit Man 2016 By John Perkins
      19.
      The 7 Deadly Innocent Frauds of Economic Policy By Warren Mosler
      20.
      Soft Currency Economics II By Warren Mosler
      21.
      MACROECONOMICS MMT textbook – http://tinyurl.com/yycy82pw or https://www.youtube.com/watch?v=RxSL5fazA5s
      ISBN-13: 978-1137610669 ISBN-10: 1137610662

    • Marma Developer

      @Thomas D if you've got nothing better than MMT then I don't need to read any of this. I know it already. MMT still operates within a debt based monetary system. And that's like adding springs to a horse cart: it might smooth the ride a bit, but it's a useless gimmick when we're about to transition to cars. Keep reading! 😉

  11. "All truth passes through three stages. First, it is ridiculed. 
    Second, it is violently opposed. 
    Third, it is accepted as self-evident." –Arthur Schopenhauer

  12. Nice work Steve but does this mean we have to pump CO2 into the air to stop us going deep into the next ice age?
    Ie you showed a 4C Lower world temp 20000 years ago. So if we don’t want to end up there again we need more greenhouse gases. The timeframe is a lot longer but still we will need to do it long term if we want to keep temps as they are now. So coal will be our savior eventually???

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