Community | November 12, 2011 | 6 comments

Steve Keen: Economic Progress one Funeral at a Time? (Parts 1 and 2)

source: http://www.youtube.com/watch?v=UNIJ66m1BLQ

KB723
Many modern economists missed the financial crisis and the economic problems we've seen since then, such as the eurozone debt crisis. Why? Well according to economics professor and author of Debunking Economics Steve Keen, they're not really experts on the economy but experts on a model of the economy. The great tragedy according to Keen is that the model is almost completely irrelevant to the system we actually live in. And despite the learnings of the financial crisis, not much has changed. Keen says the problem is Neoclassical economics, which economists are traditionally trained in. As for the solution? Well we may just have to wait for the economists in charge to die off. In the meantime, should people be occupying the economics departments of universities along with Wall Street? Keen says absolutely.

To see part 2 click on the link:
http://www.youtube.com/watch?v=UNIJ66m1BLQ

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address...

"I am not surprised that Bernanke did not see this, as far as I am concerned he simply over looked it..."
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6 comments // Steve Keen: Economic Progress one Funeral at a Time? (Parts 1 and 2) // Video

  • VoyagerFilms
  • AmericanStandard
  • Milieu
    • +1
      Milieu  
    • AmericanStandard:

      Charlie and Ronnie out to screw the American people Together.

      "It takes a genius to transform arcane economic theory into a profitable enterprise, and Koch has done just that, using ivory-tower concepts of the Austrian school"

      "In an interview with the American Journal of Business, Koch said he owes "a huge debt of gratitude to the giants who created the Austrian School [of economics]"

      "Mar 28, 2011 – On Charles Koch: One day he came across the Austrian school of economics. Von Mises, Hayek, F.?A. Harper, Sowell—these free market..."

      "We also co-sponsor the annual FEE Prizes in Austrian Economics for the best ... to the Koch Foundation, the Mercatus Center, and the Cato Institute, ... now open for the 2011 Foundation for Economic Education Prizes for the ..."

      "By applying his Market-Based Management® philosophy, which is rooted largely in concepts from the Austrian School of Economics, Koch has achieved tremendous..."

      "Charles Koch credits the principles of Austrian School of Economics as the ... from the Austrian School of Economics to build Koch Industries, Inc., and second..."

    • 7 months ago
  • AmericanStandard
  • KB723
  • KB723
    • +2
      KB723  

    • Steve Keen: Economic Progress one Funeral at a Time? (Parts 1 and 2)

      "I am not surprised that Bernanke did not see this, as far as I am concerned he simply over looked it..."

    • 7 months ago
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