Dr. Steve Keen - Debunking Economics - Money, Debt Crisis, Economy, Recession, Taxes
http://sustainabilityconference.org/ To hear Dr. Steve Keen speak in person, attend The International Conference on Sustainability, Transition & Culture Change: Vision, Action, Leadership. To learn more and register visit: http://sustainabilityconference.org/ ***** Dr. Steve Keen received the Revere Award from the Real World Economics Review in 2010 for being the economist who most cogently warned of the economic crisis, and whose work is most likely to prevent future crises. He is Associate Professor of Economics & Finance at the University of Western Sydney and author of "Debunking Economics" (2011). Dr. Keen was one of the handful of economists to realise that a serious economic crisis was coming our way, and to publicly warn of it from as early as December 2005 (http://mpra.ub.uni-muenchen.de/15892/). This, and his pioneering work on modelling debt-deflation, resulted in him winning the Revere Award from the Real World Economics Review (http://rwer.wordpress.com/) for being the economist whose work is most likely to prevent a future financial crisis. He is one of the handful of economists to receive a grant from the Institute for New Economic Thinking (http://www.ineteconomics.org). Dr. Keen was able to predict the crisis due to economic work that expands upon Keyes, Fischer, and Minsky, utilizing an accounting, flow of funds or circuit model. He was one of the few economists studied for the paper "No One Saw This Coming" (2009) by Bezemer, Dirk J. Keen is commonly interviewed by TV stations and written up in the press. He is often invited to meetings of financial advisors, hedge funds and economic conferences, world wide. http://sustainabilityconference.org/ Dr. Keen maintains a highly influential blog on economics (www.debtdeflation.com/blogs) and his book Debunking Economics is a classic exposition of why Neoclassical economic theory is not only wrong, but more of a threat to the survival of capitalism than any number of left-wing revolutionaries. The second edition will be published in October 2011. Dr. Keen is Associate Professor of Economics & Finance at the University of Western Sydney, and author of the popular book Debunking Economics (Zed Books UK, 2001; www.debunkingeconomics.com). He has over 70 academic publications on topics as diverse as financial instability, the money creation process, mathematical flaws in the conventional model of supply and demand, flaws in Marxian economics, the application of physics to economics, Islamic finance, and the role of chaos and complexity theory in economics. His work has been translated into multiple languages. Steve Keen's Debtwatch blog (http://www.debtdeflation.com/blogs) makes his non-orthodox approach to economics available to the public. The site has over 12,000 subscribers and more than 50,000 unique readers each month. Dr. Keen's excellent communication skills were honed in his pre-academic career, which included stints as a school librarian, education officer for an NGO, conference organizer, computer programmer, journalist for the computer press, and economic commentator for ABC Radio National and Radio Australia.Category: Education
Author: newculture
Published (on YouTube): 2011-10-01
Published (here): 2012-05-28
Rating: 4.773585; Votes:53
Views: 5617; Favorites: 42
Video duration: 27 min.
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Comments on «Dr. Steve Keen - Debunking Economics - Money, Debt Crisis, Economy, Recession, Taxes»:
CusterFlux on 2012-03-06
If Keen's right ( ...
If Keen's right ( and I suspect he is ) and something can be done about it, we stand a chance of becoming one of those rare cultures in history to cure kleptocracy: the cancer of civilizations - and usually terminal.
carlosperdue on 2012-02-16
Yah, doode! fuk ...
Yah, doode! fuk skule, fuk teechurs, fuk wurk, fuk them fuking propuganduh fuks, n fuk u 2!
carlosperdue on 2012-02-16
Debunking economics ...
Debunking economics? He is SO right! For starters, people always buy more of something when the price goes up, but producers actually produce less of it at the same time. Also, central planning by super-smart bureaucrats totally rules. That's why the Soviets won the cold war and Gorbachev is President of the USA.
Panpiper on 2012-01-28
I was a bit thrown ...
I was a bit thrown at the beginning of this presentation by his equating mathematical economists with market fundamentalists. The mathematical economists I know are very strong on having the heavy hand of government involved in the economy, they are 'not' market fundamentalists. Meanwhile the folks I know of as market fundamentalists are most emphatically 'not' mathematical economists and roundly criticize that approach. He then goes on to debunk mathematical economics...
SteelHamburger on 2011-12-30
At around 7:00 he ...
At around 7:00 he says that because the principle eigenvalue must be > 0, the price system must be unstable (meaning it won't converge). Unless I'm missing something, that's only true if the eigenvalue is >= 1. The Perron-Frobenius theorem only says that the matrix has a positive principle eigenvalue, so it's not as though he just misspoke.
NicosMind on 2011-12-22
I like what he says ...
I like what he says at 11 minutes. That students are taught not from oringal pieces of work but interpretations of that work which are presented as perfect jewels. Which in itself explains the religious fundementalism of a lot of them when you point out its many flaws. Although i disagree with a lot of what Steve Keen says what i do like is that he takes classical theory and proves it wrong on its own grounds. Thats the best way to attack any "theory".
NicosMind on 2011-12-22
Ive bought the new ...
Ive bought the new edition of his book. Its sitting on my shelf and im sure ill get to it in the next year or two(ive got a lot of books) But i have to strongly disagree with him that we have a market economy. We dont. We have a political economy. Theres loads of vids out there proving it just search cronny capitalism, or mercantilism and see the vids you come up with. But this vid here i think sums it up perfectly "Buying Up Politicians Through Lobbying" watch?v=bIjgb0_htq4
ApocalypticAang on 2011-11-25
LOL, "a theory of ...
LOL, "a theory of uncertainty free from any probability concept...(Debreu)" seriously? So apart from making a joke out of mathematics and economics, the neo-classical economists have gone on to turn the English language into garbage... "The consequences of accomodating such aspects of reality are likely to be disastrous...(Sharpe)" i.e. their best supporting argument is TINA-There Is no Alternative? Oh, that explains people like Paul Krugman-- they are trained to write SCIENCE-FICTION!
mrzack888 on 2011-11-19
fuck economics, ...
fuck economics, fuck school. fuking propaganda fucks.
qatarguy85 on 2011-10-16
Great presentation ...
Great presentation sir, Thank you.
newculture on 2011-10-03
You are welcome.
You are welcome.
slipcurve on 2011-10-02
Awesome ...
Awesome presentation. Thanks.