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Scottish Economics Conference Glasgow: Economics of Debt (& Climate Change)

Summary:
This keynote to the student-organized Scottish Economics Conference held in Glasgow in February 2019 covers the macroeconomics of private debt and credit, and in the final minutes, covers the absurdity of the “damage function” that Nordhaus uses to conclude that a 6 degree temperature rise–a level which last occurred during what’s known as the “Permian ...

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This keynote to the student-organized Scottish Economics Conference held in Glasgow in February 2019 covers the macroeconomics of private debt and credit, and in the final minutes, covers the absurdity of the “damage function” that Nordhaus uses to conclude that a 6 degree temperature rise–a level which last occurred during what’s known as the “Permian Extinction” when about 80% of all then existing life forms went extincy–will cause a mere 8.5% fall in GDP.


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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