Prof Steve Keen exposes the drastic harm of climate policies based on spurious economics.
This 17- min yt debunks the execrable climate work of Prof Wm Nordhaus, author of a paper savaging The Limits to Growth (on deceptive premises) shortly after its 1972 publication.
We have all been paying for policies, laws, and practices dismissive of the effects of global heating ever since. It's bad, folks!
#SteveKeen #GlobalHeating #Econ #ClimateScience
#ScienceBasedEconomics
Prof Steve Keen recommended this short climate film to the seminars. So glad he did - I echo his recommendation! Strong shared themes with the climate elements of his critique of mainstream econ, incl. feedback loops, tipping points, and complex systems. And yet, accessible! An important film.
#ClimateExtremes:AtTheAbyss #SteveKeen #climatechange #systemdynamics #feedbackloops #tippingpoints #amoc
May 19
#SteveKeenAndFriends
#SteveKeen
6 min
Clips out of the stream with Denise Hearn. Steve responds to mean Xits.
#SteveKeenAndFriends
#SteveKeen
May 12
The show returned this Saturday, and despite the internet throwing curveballs at the guest, it went well with the spiffy new host.
I have fun at Steve's expense. ;)
A riff on Kimmel's mean tweets was trialed. It has potential with a little work.
#SteveKeen #mmt #economics #uspol
I have to wonder about standard political talking points.
Dems crow of their budget cutting prowess to explain why the economy does better under them while hissing at Republican’s raising the deficit as an explanation of why the economy does less well. But MMT explains the opposite and I have to ponder that the reason is there’s a lag of a couple years.
Oh dear, Hitchhiker vibe.
“Figure 42: A Government Deficit increases the net financial worth of the private sector”
On another note, Laffer doesn’t want the Fed chairman position. For good reason, he’d ruin the economy. I think we should run the experiment and have a different school of economic thought heading it. Laffer sounds absolutely mental.
(paywall)
https://www.ft.com/content/23ddac23-003f-45b8-a006-a4209423c102
@economics-that-works #SteveKeen #mmt #economics
File this under the heading economics is not even a dismal science, because mainstream economics isn’t even science. Economics could actually be a rigorous discipline, if orthodoxy can be kicked out.
“ In contrast to its attitude to private debt, which it ignores, mainstream economics obsesses about government debt. But this volte-face doesn't besmirch its record of being 100% wrong.”
https://profstevekeen.substack.com/p/its-a-mixed-credit-fiat-world-e3f
@academicchatter
@economics @breadandcircuses
#SteveKeen #climatechange #economics
Steve has made the direct appeal to have scientists/economists referee mainstream economist's climate damage functions (like Nordhaus).
Included is the research proposal Steve and Tim Lenton have authored.
* Note that it may be possible to gather enough contributors to co-author cooperatively, but that has to be taken up with Steve or Tim
https://profstevekeen.substack.com/p/my-talk-to-stewardship-summit-2024
@economics-that-works
#economics
#SteveKeen
Chapter 7 update from his serialization (note some notation fails to export. it’s those few funny boxes)
https://profstevekeen.substack.com/p/the-macrofoundations-of-macroeconomics-310
#SteveKeen #climatechange #economics
Mainstream economist assertions:
"Tipping points reduce global consumption per capita by around 1% upon 3°C warming and by around 1.4% upon 6°C warmings, based on a second-order polynomial fit of the data."
Keen: This was simply ridiculous. A planet missing those 8 critical elements of the Holocene environment would be totally unlike the one we currently inhabit.
guess what mainstream economists replied?
https://www.planksip.org/none-so-blind-as-those-who-will-not-see/
Apr 3
7 min video
Academics know there's something wrong with mainstream economics, yet it's given authoritative influence on climate|economic policy and it continues to monopolize research funding.
Academics need to bring this field to account. Here's a proposal to do just that. It's time to take a hard look at their methods.
Please BOOST this one and share the video. Talk about it with your colleagues.
@breadandcircuses @YusufToropov
There are different examples of what is a freigeld monetary system (see wiki on Gesell, Freigeld and cheimgauer as an example).
This last bit is prolly the most vexatious, but #MMT theory on the monetary system is 80% of this.
In terms of economics, though, I use the #SteveKeen hashtag to spread the word that the mainstream has its critics and alternatives. One's that seek to anchor the field in reality, math+empirical data.
anyone in the sciences, academics should have a listen
The Q&A makes the point.
The field of economics needs a massive housecleaning of ideas that are lethal to humanity (and I would say of even a functioning economy).
Neoclassicals are so vain they imagine their discipline should run every field of study(!)
mar 18
5 min video
Wherein I disagree with both interlocutors for different reasons. Keen argues that educating politicians about MMT might make them less subject to banker influence (not really the problem) and rebel capitalist thinks shriveling the fed gov will fix banker influence, which is also not the problem.
"Your best example of this is Japan, which made no change whatsoever to its interest rate [after the COVID pandemic began], but experienced much the same increase in inflation, and then fallback again afterwards. So interest rate is not a control and not a fine tuner for the economy in the way that neoclassical economists believe it is."
Professor #SteveKeen, 2023
https://debunkingeconomics.com/episode/should-we-fix-central-bank-interest-rates
https://invidious.fdn.fr/watch?v=lrMWSkzrMYg
Great interview. I especially liked the part where he connected energy-blindness of mainstream economics with its ideological role in maintaining contemporary power structures.
