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Rewiring Economics: Dr Steve Keen on Climate, Energy, and Ravel
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EP 320 - Steve is a professor, a world leading critic of neo-classical economics, and a major contributor to the development of an alternative monetary approach to economics.
We discuss the urgent need to debunk mainstream economic theories, particularly those ignoring climate change and energy integration, and advocate for substantial paradigm shifts in addressing these issues.
Steve introduces Ravel - his innovative software revolutionising data analysis. He also emphasises the need for more engineers and scientists in leadership roles, supporting his arguments with personal anecdotes and reflections on his experiences and ambitions.
Chapters:
00:00 BWB with Dr Steve Keen
01:08 Climate Change and Economics
01:43 Introducing Ravel: A Revolutionary Software
03:21 The Problem with Spreadsheets
04:29 The Complexity of Economic Systems
08:56 The Role of AI in Data Analysis
16:29 Flaws in Economic Surveys and Data Collection
19:13 The Greek System of Sortition and Modern Politics
30:59 The Paradigm Shift in Science and Economics
44:41 The Financial Crisis and Economic Theories
48:17 Shifting Expectations and Risky Investments
48:47 Current Economic Cycle and Private Debt
49:32 Neoclassical Economics and Interest Rates
51:28 Inflation and Markups
52:40 The Ignored Problem of Private Debt
01:22:19 China's Economic Approach and Global Comparisons
01:24:40 Wrap Up
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