--- title: "Meaning & Key Takeaway of: ...If you look at mainstream economics…" description: "\"“...If you look at mainstream economics there are three things you will not find in a mainstream economic model - Banks, Debt, and Money. How anybody c..." image: "https://sms4smile.com/quotes/i/c7c/steve-keen-37679_banking_if-you-look-at-mainstream-economics-ther_3227999.png" --- # ...If you look at mainstream economics there are three… ![“...If you look at mainstream economics there are three things you will not find in a mainstream economic model - Banks, Debt, and Money. How anybody can think they can analyze capital while leaving out Banks, Debt, and Money is a bit to me like an ornithologist trying to work out how a bird flies…” quote by Steve Keen](https://sms4smile.com/quotes/i/c7c/steve-keen-37679_banking_if-you-look-at-mainstream-economics-ther_3227999.png) [Download](https://sms4smile.com/quotes/i/c7c/steve-keen-37679_banking_if-you-look-at-mainstream-economics-ther_3227999.png) [Open image](https://sms4smile.com/quotes/i/c7c/steve-keen-37679_banking_if-you-look-at-mainstream-economics-ther_3227999.png) > ““...If you look at mainstream economics there are three things you will not find in a mainstream economic model - Banks, Debt, and Money. How anybody can think they can analyze capital while leaving out Banks, Debt, and Money is a bit to me like an ornithologist trying to work out how a bird flies whilst ignoring that the bird has wings...”” [Steve Keen](https://sms4smile.com/quotes/author/steve-keen/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Mainstream economics ignores essential financial elements—banks, debt, money—making its models incomplete. **In simple terms:** Economics missing banks, debt, money. Key Takeaway Include financial realities in analysis. Themes economics finance critical thinking Mood analytical critical Type academic economic When to use this quote - policy making - academic research - investment decisions - public education Key Concepts heterodox economics systemic risk Questions to Reflect On - How would incorporating banks change economic forecasts? - What barriers prevent mainstream acceptance? A Different Perspective Overlooking these factors can lead to flawed policies and crises. ★ ★ ★ ★ ★ No ratings yet [Banking](https://sms4smile.com/quotes/about/banking/) [Debt](https://sms4smile.com/quotes/about/debt/) [Economic Model](https://sms4smile.com/quotes/about/economic-model-588423/) [Economics](https://sms4smile.com/quotes/about/economics/) [Economics Things](https://sms4smile.com/quotes/about/economics-things-1422249/) [Economists](https://sms4smile.com/quotes/about/economists/) [Experts](https://sms4smile.com/quotes/about/experts/) [Finance](https://sms4smile.com/quotes/about/finance/) [Financial crisis](https://sms4smile.com/quotes/about/financial-crisis/) [Financial-crisis-of-2007-2011](https://sms4smile.com/quotes/about/financial-crisis-of-2007-2011-64052/) [Mainstream Economic](https://sms4smile.com/quotes/about/mainstream-economic-796306/) [Mainstream Economics](https://sms4smile.com/quotes/about/mainstream-economics-1413693/) [Money](https://sms4smile.com/quotes/about/money/) [Occupy wall street](https://sms4smile.com/quotes/about/occupy-wall-street/) [Things Mainstream](https://sms4smile.com/quotes/about/things-mainstream-1560366/) [Three things](https://sms4smile.com/quotes/about/three-things/) ## Related quotes > [Mainstream economic theories popular in the last several decades have tended to downplay the government's role in markets and to increase skepticism about even…](https://sms4smile.com/quotes/mariana-mazzucato/mainstream-economic-theories-popular-in-the-last-several-decades-have/) [Mariana Mazzucato](https://sms4smile.com/quotes/author/mariana-mazzucato/) > [“While the financial crisis destroyed careers and reputations, and left many more bruised and battered, it also left the survivors with a genuine sense…](https://sms4smile.com/quotes/andrew-ross-sorkin/while-the-financial-crisis-destroyed-careers-and-reputations-and-left/) [Andrew Ross Sorkin](https://sms4smile.com/quotes/author/andrew-ross-sorkin/) > [“These are tough times for state governments. 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I like more mainstream economics](https://sms4smile.com/quotes/robert-sarvis/i-m-not-into-the-whole-austrian-type-strongly-libertarian-economics-i/) [Robert Sarvis](https://sms4smile.com/quotes/author/robert-sarvis/) > [Mainstream economics scholarship produces theory without facts (pure theory) and facts without theory](https://sms4smile.com/quotes/michel-chossudovsky/mainstream-economics-scholarship-produces-theory-without-facts-pure/) [Michel Chossudovsky](https://sms4smile.com/quotes/author/michel-chossudovsky/) > [With respect to teaching, I couldn't make sense of mainstream economics when I had to teach it to college students. At the same time,…](https://sms4smile.com/quotes/michael-yates/with-respect-to-teaching-i-couldn-t-make-sense-of-mainstream/) [Michael Yates](https://sms4smile.com/quotes/author/michael-yates/) > [When people are running up more and more debt for housing, they call that "real wealth." 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It thinks like a drug addict: 'Where can I get my next fix?'…](https://sms4smile.com/quotes/naomi-klein/it-doesn-t-have-the-ability-to-think-rationally-this-economic-model/) [Naomi Klein](https://sms4smile.com/quotes/author/naomi-klein/) ## More by Steve Keen > [“We should look closely on what is happening at the moment, guys with little moustaches can pop up everywhere now given this instable economic…](https://sms4smile.com/quotes/steve-keen/we-should-look-closely-on-what-is-happening-at-the-moment-guys-with/) [Steve Keen](https://sms4smile.com/quotes/author/steve-keen/) > [“A period of tranquil growth thus leads to rising expectations, and a tendency to increase leverage: as Minsky put it in his most famous…](https://sms4smile.com/quotes/steve-keen/a-period-of-tranquil-growth-thus-leads-to-rising-expectations-and-a/) [Steve Keen](https://sms4smile.com/quotes/author/steve-keen/) > [“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…](https://sms4smile.com/quotes/steve-keen/neoclassical-economics-has-effectively-insulated-itself-from-the/) [Steve Keen](https://sms4smile.com/quotes/author/steve-keen/) > [“The fallacy that dynamic processes must be modeled as if the system is in continuous equilibrium is probably the most important reason for the…](https://sms4smile.com/quotes/steve-keen/the-fallacy-that-dynamic-processes-must-be-modeled-as-if-the-system/) [Steve Keen](https://sms4smile.com/quotes/author/steve-keen/) > [“An essential pedagogic step here is to relegate the teaching of mathematical methods in economics to mathematics departments. 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The…](https://sms4smile.com/quotes/steve-keen/economics-also-has-to-become-a-fundamentally-monetary-discipline-from/) [Steve Keen](https://sms4smile.com/quotes/author/steve-keen/) > [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…](https://sms4smile.com/quotes/steve-keen/engineers-do-engineering-i-e-they-build-bridges-so-engineering-needs/) [Steve Keen](https://sms4smile.com/quotes/author/steve-keen/) [Explore all 12 Steve Keen quotes ](https://sms4smile.com/quotes/author/steve-keen/) ## More Banking quotes > [If I could wave a magic wand, I'd break up the banking system.](https://sms4smile.com/quotes/kenneth-c-griffin/if-i-could-wave-a-magic-wand-i-d-break-up-the-banking-system/) [Kenneth C. Griffin](https://sms4smile.com/quotes/author/kenneth-c-griffin/) > [Historically, usury was defined as any interest whatever on an unproductive loan.Our whole banking system I have ever abhorred, I continue to abhor, and…](https://sms4smile.com/quotes/john-adams/historically-usury-was-defined-as-any-interest-whatever-on-an/) [John Adams](https://sms4smile.com/quotes/author/john-adams/) > [I am alive. Up here with the song of the engine and the air whispering on my face as the sunlight and shadows play…](https://sms4smile.com/quotes/stephen-coonts/i-am-alive-up-here-with-the-song-of-the-engine-and-the-air-whispering/) [Stephen Coonts](https://sms4smile.com/quotes/author/stephen-coonts/) > [It's not that I have any general aversion to technology but online banking just seems to be asking for trouble. 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As family life, it was very conventional, happy, and comfortable. We weren't wealthy, but…](https://sms4smile.com/quotes/julia-child/my-father-was-in-real-estate-banking-and-land-management-as-family/) [Julia Child](https://sms4smile.com/quotes/author/julia-child/) > [I only know one thing: Everything I learned about the banking business, I learned in the banking towers of the Societe.](https://sms4smile.com/quotes/jerome-kerviel/i-only-know-one-thing-everything-i-learned-about-the-banking-business/) [Jerome Kerviel](https://sms4smile.com/quotes/author/jerome-kerviel/) > [I have nothing against investment banking, but it's like massaging money rather than creating money.](https://sms4smile.com/quotes/michio-kaku/i-have-nothing-against-investment-banking-but-it-s-like-massaging/) [Michio Kaku](https://sms4smile.com/quotes/author/michio-kaku/) > [If you've taken Econ 101, you know that the quantity of money rises only when the banking system makes a net loan.](https://sms4smile.com/quotes/kenneth-fisher/if-you-ve-taken-econ-101-you-know-that-the-quantity-of-money-rises/) [Kenneth Fisher](https://sms4smile.com/quotes/author/kenneth-fisher/) > [I want the best people, not just on the banking side but on innovation and technology.](https://sms4smile.com/quotes/ana-patricia-botin/i-want-the-best-people-not-just-on-the-banking-side-but-on-innovation/) [Ana Patricia Botin](https://sms4smile.com/quotes/author/ana-patricia-botin/) > [“Intellectually and compassionately explaining the reason freedom works is required for credibility.”](https://sms4smile.com/quotes/ron-paul/intellectually-and-compassionately-explaining-the-reason-freedom/) [Ron Paul](https://sms4smile.com/quotes/author/ron-paul/) > [With post offices and postal workers already on the ground, USPS could partner with banks to make a critical difference for millions of Americans…](https://sms4smile.com/quotes/elizabeth-warren/with-post-offices-and-postal-workers-already-on-the-ground-usps-could/) [Elizabeth Warren](https://sms4smile.com/quotes/author/elizabeth-warren/) > [A banking system is an act of faith: it survives only for as long as people believe it will.](https://sms4smile.com/quotes/michael-lewis/a-banking-system-is-an-act-of-faith-it-survives-only-for-as-long-as/) [Michael Lewis](https://sms4smile.com/quotes/author/michael-lewis/) > [For my own part, I did not see and did not appreciate what the risks were with securitization, the credit ratings agencies, the shadow…](https://sms4smile.com/quotes/janet-yellen/for-my-own-part-i-did-not-see-and-did-not-appreciate-what-the-risks/) [Janet Yellen](https://sms4smile.com/quotes/author/janet-yellen/) [Browse all 571 Banking quotes ](https://sms4smile.com/quotes/about/banking/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "“...If you look at mainstream economics there are three things you will not find in a mainstream economic model - Banks, Debt, and Money. 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