“Neoclassical economics has effectively insulated itself from the great advances made in science and engineering over the last 40 years. This self-imposed isolation must come to an end. For while the concepts of neoclassical economics appear difficult, they are actually… — Steve Keen Copy Share Image
“From this failure to expunge the microeconomic foundations of neoclassical economics from post-Great Depression theory arose the "microfoundations of macroeconomics" debate, which ultimately led to a model in which the economy is viewed as a single utility-maximizing individual blessed with… — Steve Keen Copy Share Image
“We should look closely on what is happening at the moment, guys with little moustaches can pop up everywhere now given this instable economic… — Steve Keen Copy Share
“A period of tranquil growth thus leads to rising expectations, and a tendency to increase leverage: as Minsky put it in his most famous… — Steve Keen Copy Share
“Neoclassical economics has effectively insulated itself from the great advances made in science and engineering over the last 40 years. This self-imposed isolation must… — Steve Keen Copy Share
“The fallacy that dynamic processes must be modeled as if the system is in continuous equilibrium is probably the most important reason for the… — Steve Keen Copy Share
“An essential pedagogic step here is to relegate the teaching of mathematical methods in economics to mathematics departments. Any mathematical training in economics, if… — Steve Keen Copy Share
“As Thorstein Veblen correctly surmised over a century ago, the failure of economics to become an evolutionary science is the product of the optimizing… — Steve Keen Copy Share
“From this failure to expunge the microeconomic foundations of neoclassical economics from post-Great Depression theory arose the "microfoundations of macroeconomics" debate, which ultimately led… — Steve Keen Copy Share
If you have a sane economy, and by sane economy I mean one which is not addicted to debt, not a Ponzi economy, then… — Steve Keen Copy Share
“Economics also has to become a fundamentally monetary discipline—from the consideration of how individuals make market decisions through to our understanding of macroeconomics. The… — Steve Keen Copy Share
“...If you look at mainstream economics there are three things you will not find in a mainstream economic model - Banks, Debt, and Money.… — Steve Keen Copy Share
Engineers do engineering, i.e. they build bridges. So engineering needs engineers. The economy does NOT need economists. Economists do not make economy, but they… — Steve Keen Copy Share
