We need good new economics, and what it could be, Part 1
This post is a summary of the interview below, where Steve Keen talks with Lachlan McCall, the President of the Young Economists Network for the ACT (Australian Capital Territory) branch of the Economic Society of Australia about the main ideas in his new book “The New Economics: A Manifesto“. Below the video is a summary […]
We need good new economics, and what it could be, Part 2
The economics of ecocide? This, claims Professor Steve Keen, is one of the primary reasons why we need a new economics. He makes the rather hyperbolic statement that neoclassical economics is the economics of ecocide precisely because it does not include the critical nature of energy in its economic modeling. Plus the fact that is […]
We need good new economics, and what it could be, Part 3
Professor Steve Keen states we need new economics because neoclassical economics does such a poor job of modeling how the world and how economies really work. It trivializes the role of energy in economics and ignores that while a transition to a carbon-free energy system will be expensive, it’s not something we can ignore or […]