" />
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!  

Find out more about Community Resilience. See our COMMUNITIES page
Start your own projects. See our RESOURCES page.
Help build resilience. DONATE NOW.

 

This is a community site and the discussion is moderated. The rules in brief: no personal abuse and no climate denial. Complete Guidelines.


Progress Toward a True-Cost Economy Now Comes From Developments in Renewable Energy

A renewable energy revolution is sweeping the planet. This revolution has …

These Friends from High School Bought an Abandoned Factory. Now They're Distilling Artisanal Whiskeys

“If we can put this building back to work, we can put any building in …

Self-Help by the People: A Short History of Cooperatives in Britain, With a Foray into the United States

This is the story of 175 years of successful self-help, of an international …

Can an Olympics Fight Inequality?

As someone concerned about inequality, what would it take for you to support …

We Need New Economics for a New Era of History

We are entering a new era in which the current way we run our economy …

What does REconomy look like in ... Linlithgow, Scotland?

Alan Brown of Transition Linlithgow (TL) in Scotland participated in the …

It’s time for a new political and economic system – A conversation with Gar Alperovitz

Here’s our starting point: If you don’t like corporate …