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Kingston University Becoming an Economist Lecture 05: The Ecological Blindspot in Economics

Summary:
I criticise all schools of thought in economics as having a blindspot on the relationship between economics and ecology. I explain the Laws of Thermodynamics and the fact that nothing can be produced without energy, and yet theories of production in both Neoclassical and Post Keynesian economics ignore this. I show how energy could be ...

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I criticise all schools of thought in economics as having a blindspot on the relationship between economics and ecology. I explain the Laws of Thermodynamics and the fact that nothing can be produced without energy, and yet theories of production in both Neoclassical and Post Keynesian economics ignore this. I show how energy could be incorporated. I cover the inevitability of reaching a maximum level of energy consumption per head, and the impact of Limits to Growth on the viability of our current consumption-oriented economic system.


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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