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The Real Truth about Economics (with Lex Fridman)
Manage episode 426165223 series 3579547
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"Economic systems are some of the most complex on Earth, and understanding them means using the right tools, which we've fundamentally failed to do."
Join Steve Keen as he delves into the true essence of economics and its profound impact on human civilization. Discover why he believes the field has lost its way and how adopting engineering principles could revolutionize economic modeling. From the exploitation of high-grade energy sources to the need for respecting life, Steve challenges conventional economic thought and calls for a transformative approach to understanding and sustaining our society.
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Who is Dr. Steve Keen?
Dr. Steve Keen is an influential economist who has dedicated over 50 years to challenging mainstream economic theories. Since his days as a university student, he has been engaged in a David vs. Goliath battle against conventional economic models. Holding a Ph.D. in economics, Dr. Keen is well-known for his critical analysis and advocacy for more realistic economic approaches. His work emphasizes the importance of accounting for financial instability and incorporates elements of complex systems theory. Engineers, finance professionals, and IT experts will appreciate his methodical breakdown of economic phenomena and his development of the Minsky software, which models financial crises. Dr. Keen's contributions are crucial for anyone seeking a deeper understanding of how economic systems can impact technological and financial environments. His teachings offer valuable insights into the economic forces shaping our world. By following his analysis, professionals can gain a better grasp of economic dynamics that influence their fields.
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