by Summary:
Special guest Graham Boyd joins us this week, Graham is a CEO, Serial entrepreneur, Particle Physicist, Disruptive Innovator, and author. Check out his website: https://graham-boyd.biz/
Topics:
Steve Keen considers the following as important:
This could be interesting, too:
Special guest Graham Boyd joins us this week, Graham is a CEO, Serial entrepreneur, Particle Physicist, Disruptive Innovator, and author. Check out his website: https://graham-boyd.biz/
Topics:
Steve Keen considers the following as important:
This could be interesting, too:
Lars Pålsson Syll writes I am I said
Lars Pålsson Syll writes The non-existence of economic laws
Michael Hudson writes Gaza – Civilization will Win over Barbarism
John Quiggin writes The war to end war, still going on
| Special guest Graham Boyd joins us this week, Graham is a CEO, Serial entrepreneur, Particle Physicist, Disruptive Innovator, and author. Check out his website: https://graham-boyd.biz/ |
good video. Well done.
The new book 'Stopping 1984' cites Steve Keen and his works.
And the Dynamic Disequibrium which causes crashes and collapses.
Happy New Year 🎉!
What a shame that the host, Daniel Sanderson, has been so well trained on how to interrupt academics. I felt the dialog had just started warming up when the show ended. Well done to everyone involved. A tough topic to cover, but you did it superbly! 🙏
7:01 still just screwing around.. later for this
Mike Thanks for uploading the videos on System Dynamics.
All very interesting, but
We are hearing here how to exploit peoples production and try to minimise risk. However the constant trickle up economy is itself bankrupted by the interest constantly creamed off the real economy by the financial service. So yes we have a good model for a temporary economic model, but in the end the chaos of our dominant economy fails on the actual services while taking all into the financial services. It's a shame that such people use their talents to make a great argument for something that is reaching a saturation level destined to fail people in favour of a few rich people.
Still we're stuck with these clever people until reality comes up and bites us all and we have to change. beware climate change and financial collapse. Regenerative economy will be found when we get realistic about the economy and expose these stories for what they are.
or they will trash everything and we never get gov for the people.
26:00 "It is wrong to think that the task of physics is to find out how Nature is. Physics concerns what we say about Nature." ~ Niels Bohr
Exactly the origin!
Really great show guys, Thank You!
Bob Leore is spot on, Paul Davidson the great American Post-Keynesian talked about ergodic understanding in Economics that was misleading.
2:30 show begins
https://youtu.be/lSEAPmquCv4?si=8BpsxgkspRuqtHB5
This is the most interesting thing I've listened to in quite some time. Much food for thought. Many thanks 👏
So you could have a large, diversified company – and run it like the Mondragon. The large company doesn't have to be run by a CEO and board of directors and have returns to shareholders as its primary purpose – it could be run democratically. Would that be an effective redistribution of power?
Mondragon is the example of that, yes. The significant different between an employee co-op and standard business is the difference between authoritarian rule / oligarchy and democracy. Mondragon isn't 100% bunnies and butterflies, over time they've hired more contractors which means employees that don't benefit from membership, but at the same time there is now pressure to reverse the practice. DW 'Defying the Crisis – The Spanish Collective Mondragón | Made in Germany' reports on its response to GFC and it's a good survey of how coops can differ greatly from standard corps. Structure matters though. Coops may be centered around customers or employees and from them you get different dynamics.
Absolutely – and that's very much how we're building companies, and once we have investment in our holding company, how the ecosystem will be built. As a Holarchy of governance / power …
Ayyy I made the list!
Steve I've been preaching your work to the Colin Drumm Mimbres School crowd.
34:35 optimization means Bak's sandpiles…
I don't see how this "ecosystem" addresses the class strife inherent to the wage relation.
This was one of my favourite shows so far. I thought Graham covered terms such as ergodicity, antifragility and hysteresis well and the regenerative ecosystem of companies is an interesting idea given some of the other work out there on circular economy and post-growth. It is fascinating to see so many physicists such as Ole Peters, Julia Steinberger, Doyne Farmer, Cesar Hidalgo and Graham Boyd working on different approaches on how the economy functions and how it needs to change given the climate and ecological crisis.
Is the end point , one company , the Soviet system?
If it keeps employment down to limit inflation, I am all for it…
Consider for a moment, as a riff on Author C Clark, "any sufficiently large corporation is indistinguishable from totalitarian centralized command and control rule'. Today's economy is a layer cake of sector cartels. In many respects we are already close.
The Soviet system replaced private authoritarian rule with government authoritarian rule. The central problem is who is in power and whose interests are at play. Democracy is a different model.
Absolutely not, that would be very fragile and lack the necessary level of competition; just as the end point of life is not a single celled organism the size of the planet. Rather you end up with a holarchy – a hierarchy of ecosystems at all scales, giving (recall, complementary pairs, 2 dimensions not a single polarity) and end point that is simultaneously one big thing and an enormous number of small things.
@@grahamboydphd Part and parcel of the problem though, is a mono business and economic culture. The global economic ship of state is fully dedicated to an energy intensive modality and it obsesses with a fix to co2 emissions by way of an absurdly lavish investment in renewables, with their own side effects and weaknesses, and EV. None of them are willing to perform a cost benefit analysis of the actions available. The most absurdly inexpensive option? Changing municipal zoning laws to support mixed use / car-free cities.
Suburbia and car centric design, which the entire investment world is geared to supporting, is a failed experiment. After subsided construction, the maintenance costs bankrupt cities, which is only papered over by eternal housing developments. The status quo, in other words, is fiducially negligent anyway.
In every study performed, walkable mixed use neighborhoods are a commercial positive yielding far more commerce and tax revenue to a city than suburbia, which is demonstrably subsidized by city centers and poor neighborhoods.
To quote the Major (Ghost in the Shell): "if we all thought the same way, we'd be predictable. It's simple. Overspecialize and you breed in weakness."
The other pillar that has allowed the sorry state of affairs in the US is the Bork doctrine which has all but nerfed many of the qualities you would cultivate. Married to free market fundamentalism, which is empirically, if not mathematically false, our situation is very much an own goal.
Noam Chomsky has often cited Mondragon as an example of the economic model he espoused. He was very interested in the decentralization of power. He referenced the “factory girls” of 19th century New England who believed that the people who worked in the mills should own the mills. These ideas informed his concept of a libertarian socialism that was at a far remove from the top-down approach of the Soviet Union. And yes, the foundational and macro aspect of the biosphere would require a seat at the table, as Steve saliently interjected at the end.