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July 8, 2024 Readings
July 8, 2024 Readings Flooding Across the Midwest May Have Wiped Out Up to 1 Million Acres of Crops, New Estimates Now Show | AgWeb Let’s Stop Arguing About An Imaginary Energy Transition | Art Berman The Normalization of Madness – by Geoffrey Deihl “Overlapping Emergencies” Pushes Countries To Bolster Food Supply Stocks | ZeroHedge […]
The Role of Energy in Production
The Role of Energy in Production Chapter 13 from my forthcoming book Rebuilding Economics from the Top Down Human society is energy blind. Like a fish in water, it takes for granted the existence of that without which it could not survive. This is Chapter 13 from my forthcoming book Rebuilding Economics from the Top Down, […]
Why you can’t win an argument with a Neoclassical
Why you can’t win an argument with a Neoclassical I’ve been arguing with Neoclassical economists for over fifty years, without ever getting a concession from them that I was right, even when there was overwhelming logical or empirical evidence on my side. Recently, I’ve realised why. It’s because they don’t read—really read—critical literature. Instead, they […]
What About Prices?
What About Prices? Chapter 8 from my forthcoming book Rebuilding Economics from the Top Down Inflation, having been quiescent for decades, became a serious issue once more with the bout of inflation that occurred after the peak of the government reaction to the Covid crisis. Though it did not reach the 12-15% levels of the […]
The Failure of Neoliberalism
The Failure of Neoliberalism Backing Up Macro Alf, & Showcasing Ravel, in 11 plots and two averages The macro commentator Alfonso Peccatiello, who writes as @MacroAlf on Twitter/X and publishes the Macro Compass newsletter, recently posted an excellent thread on private debt that cited my work: Let me show you one of the most underrated and yet crucial […]
The schizophrenic understanding of money in economics
The schizophrenic understanding of money in economics One of the great ironies of economics is that, while the public regards economists as experts on money, the issue of how money is created is still not settled within economics. In 2014, the Bank of England published a landmark paper explicitly rejecting the textbook model of money […]
The macroeconomics of bank-created money and a Modern Debt Jubilee as a way out of the private debt trap
The macroeconomics of bank-created money and a Modern Debt Jubilee as a way out of the private debt trap My friend Dr. Sabri Oncu has established an innovative seminar program at Kadir Has University in Turkey. Called the “Kadir Has Lectures on Global Political Economy”, it has had lectures from a number of non-mainstream economists, […]
Economist Steve Keen says the planet cannot sustain 8 billion people | The Business | ABC News
Economist Steve Keen says the planet cannot sustain 8 billion people | The Business | ABC News
Friede Gard Prize Lecture 05 Energy In Production Functions
Friede Gard Prize Lecture 05 Energy In Production Functions Both Neoclassical and Post Keynesian economic models have been “energy blind”: postulating output from inputs of Technology, Labor and Capital, but ignoring energy (and matter, for that matter…). In this lecture I show how tautological and wrong the Cobb Douglas Production Function is, and that incorporating […]
Energy’s role in economic production is severely underestimated!
Energy’s role in economic production is severely underestimated! Another brilliant exposition by Prof Steve Keen. The wording below is from a LinkedIn post I made tonight, targeted to Megan Woods (NZ Energy Minister) and Tina Schirr (BEC Lead) I posted the following to LinkedIn tonight, here’s the link to the OP: https://www.linkedin.com/posts/nathansurendran_friede-gard-prize-lecture-05-energy-in-production-activity-6994962828289851392-oU7s Friede Gard Prize Lecture […]
Steve Keen: “Mythonomics”
Steve Keen: “Mythonomics” On this episode, we meet with Economist, Author, and Research Fellow at the Institute for Strategy, Resilience, and Security at University College in London, Steve Keen. Keen discusses how mainstream economics misses the centrality of energy to our economy and to our futures, the naive treatment to the risks of money and […]
The Mineral Supply Crisis That’s Rarely Talked About
The Mineral Supply Crisis That’s Rarely Talked About
The Coming Financial Crisis of 2021
The Coming Financial Crisis of 2021 Economist Steve Keen issues new warning Economist Steve Keen predicts that even if the covid-19 health crisis subsides next year, a brewing financial crisis on par with the 2008 Great Recession is in the making. He sees the pandemic as having delivered an “unprecedented shock” to the global economy, […]
Nobel prize-winning economics of climate change is misleading and dangerous – here’s why
Nobel prize-winning economics of climate change is misleading and dangerous – here’s why While climate scientists warn that climate change could be catastrophic, economists such as 2018 Nobel prize winner William Nordhaus assert that it will be nowhere near as damaging. In a 2018 paper published after he was awarded the prize, Nordhaus claimed that 3°C of warming would reduce global […]
The Delusional Leaders of the Eurozone
The Delusional Leaders of the Eurozone I was looking forward to chilling with family and friends in Sydney this New Years Day, but Phil Dobbieruined it for me with this tweet: I had forgotten that this was the 20th anniversary of the start of the Euro. But the Eurocrats in Brussels hadn’t. Some hours before […]
