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Kingston Masters Economic Change and Ideas Lecture 08

Summary:
This lecture starts with Yaroufakis’s critique of Neoclassical methodology and then proposes an alternative based on macroeconomic definitions and complexity theory. I build a couple of dynamics models in Minsky from scratch, and I make a few mistakes too on the way too (which I corrected once back at home, and inserted into this video). ...

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This lecture starts with Yaroufakis’s critique of Neoclassical methodology and then proposes an alternative based on macroeconomic definitions and complexity theory. I build a couple of dynamics models in Minsky from scratch, and I make a few mistakes too on the way too (which I corrected once back at home, and inserted into this video).



One additional mistake was that I stuffed up the sliding window graph feature of Minsky by having the boundaries the wrong way around. That’s fixed in the sample files I will put up on my Patreon page https://www.patreon.com/ProfSteveKeen.



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.

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