Marx, Capitalism, and Neoclassical Economics | Steve Keen | Escaped Sapiens #65

On this episode of the podcast I speak with UCL Honorary Professor of Economics and
ISRS Distinguished Research Fellow Steve keen. Steve famously predicted the 2008 market crash. He is also known for his criticism of modern economic theory, which he views as being inconsistent, unscientific, and empirically unsupported. He is currently working on a new science of economics built upon incontrovertible facts. We discuss the history of economic theory, the problems with neoclassical economics, and the way that our economic theory causes environmental destruction.

►Find out more about Steve's work:
profstevekeen.substack.com/
www.profstevekeen.com

►Support Steve on Patreon:
  / profstevekeen   or Substack https://

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   / @profstevekeen  

These conversations are supported by the Andrea von Braun foundation (http://www.avbstiftung.de/), as an exploration of the rich, exciting, connected, scientifically literate, and (most importantly) sustainable future of humanity. The views expressed in these episodes are my own and those of my guests.

Menu:
0:00 - Introduction
1:22 - Is economics a science?
3:15 - Chaotic and complicated systems.
6:25 - Economic Tribalism.
10:11 - Neoclassical economics & BullS@%t!
18:40 - History of neoclassical economics.
22:44 - Socialism Vs Capitalism.
29:20 - China and dynamism.
36:55 - Ghost cities.
40:45 - Economics on mars.
46:10 - Should there be billionaires?
48:40 - What is value?
56:20 - Micro Vs macro economics.
59:15 - Managing the economy.
1:01:50 - The value of economic predictions.
1:12:45 - Toxic assets & the little guy.
1:16:10 - Value and free energy.
1:22:20 - Avoiding economic disaster.
1:28:10 - Fossil slaves
1:31:55 - AI and consumption
1:36:40 - UBI.

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