by Summary:
I cover complexity, which is why macroeconomics cannot be derived from microeconomics; the alternative and much simpler macrofoundations of macroeconomics; how Minsky's Financial Instability Hypothesis drops out naturally from the three key definitions--the employment rate, the wages share of GDP, and the private debt to GDP ratio; then how Neoclassical economics can't integrate energy into its production function without destroying their theory of income distribution; how all Post Keynesians have to to is treat the "capital output ratio" as the inverse of the efficiency with which machines turn energy into useful work; and two models of production, one with energy and the other with energy and matter.
Topics:
Steve Keen considers the following as important:
This could be interesting, too:
I cover complexity, which is why macroeconomics cannot be derived from microeconomics; the alternative and much simpler macrofoundations of macroeconomics; how Minsky's Financial Instability Hypothesis drops out naturally from the three key definitions--the employment rate, the wages share of GDP, and the private debt to GDP ratio; then how Neoclassical economics can't integrate energy into its production function without destroying their theory of income distribution; how all Post Keynesians have to to is treat the "capital output ratio" as the inverse of the efficiency with which machines turn energy into useful work; and two models of production, one with energy and the other with energy and matter.
Topics:
Steve Keen considers the following as important:
This could be interesting, too:
Dean Baker writes Health insurance killing: Economics does have something to say
NewDealdemocrat writes Retail Real Sales
Angry Bear writes Planned Tariffs, An Economy Argument with Political Implications
Joel Eissenberg writes Will DOGE be an exercise in futility?
| I cover complexity, which is why macroeconomics cannot be derived from microeconomics; the alternative and much simpler macrofoundations of macroeconomics; how Minsky's Financial Instability Hypothesis drops out naturally from the three key definitions--the employment rate, the wages share of GDP, and the private debt to GDP ratio; then how Neoclassical economics can't integrate energy into its production function without destroying their theory of income distribution; how all Post Keynesians have to to is treat the "capital output ratio" as the inverse of the efficiency with which machines turn energy into useful work; and two models of production, one with energy and the other with energy and matter. |