" />
Building a world of
resilient communities.

MAIN LIST

 

Debunking Economics


Roughly 90% of the world’s economics professionals failed to see the current economic crisis forming on the horizon of the early 21st century. Many of them are now striving for stability through policies of refinancing and quantitative easing. While this class of economic thinkers have driven the planet’s policies for decades, their faulty logic is being exposed by structurally high unemployment and failing banks. Ben Bernanke and Mario Draghi are using central bank policies to prop up a system that’s imploding due to heavy debt burdens by using national deficits for attempts to accelerate private debt accumulation once again. Could one of the few economists that predicted the current financial crash outline a path forward for educating the next round of economists while providing an alternative to austerity?

In Extraenvironmentalist #39 we speak with Steve Keen about how neoclassical economics controls the ways our governments think. Steve draws on themes from the second edition of his book that exposes neoclassical economics and its faulty logic, Debunking Economics. In the first half of the interview, we draw on a technical understanding of where neoclassical economics has gone wrong and where the economies of the Eurozone are headed through following the path of austerity. In the second half, we talk about modern debt jubilees and retooling economics education. After which, Jennifer Baichwal joins us at the 95′ mark to talk about her newest film, Payback, based on Margaret Atwood’s book about debt and debtor relationships. Last of all, Seth and I recall our recent gig at Jackson Hole.

What do you think? Leave a comment below.

Sign up for regular Resilience bulletins direct to your email.

Take action!  

Make connections via our GROUPS page.
Start your own projects. See our RESOURCES page.
Help build resilience. DONATE NOW.


Evaluating your community currency

From local currencies to time banks, more and more people and organisations …

Loosening the grip of oligarchy

...the next political phase of the campaign started by Occupy is now …

It’s Money that is Killing the Local Economy

A recent report on local currency and local economy from Sweden, complied by …

From Bitcoin to Beets

The recent collapse of Mt. Gox and the “inconvenience,” in its …

Piketty in Washington: How to Reverse the Increasing Concentration of Wealth

One of Piketty’s main concerns is the increasing concentration of …

Simply calling the US an oligarchy is not enough

It’s not every day that an academic article in the arcane world of …

The New Economic Events Giving Lie to the Fiction That We Are All Selfish, Rational Materialists

Jeremy Rifkin's new book, “The Zero Marginal Cost Society,” …