Steve Keen (born 28 March 1953) is an Australian-born, British-based economist and author. He considers himself a post-Keynesian, criticising neoclassical economics as inconsistent, unscientific and empirically unsupported. Keen was formerly an associate professor of economics at University of Western Sydney, until he applied for voluntary redundancy in 2013, due to the closure of the economics program at the university. In autumn 2014 he became a professor and Head of the School of Economics, History and Politics at Kingston University in London. He is also a Fellow at the Centre for Policy Development.
By Resilience.org Staff, Resilience.org
The Resilience.org editorial team are taking a short break from 13-14 July. Regular posting will resume on Wednesday 15 July.
By Steve Keen, Patreon
One reason that the Neoclassical School is so resilient to criticism is that it has a theory of value that provides its believers with a frame of reference that is both a core set of beliefs, and a means to generate coherent arguments across a wide range of topics. Post Keynesians deliberately eschewed that, and I think this is one reason they failed.
By Steve Keen, Youtube
Economic theory has failed to incorporate the role of energy in production for two centuries since the Physiocrats. In this video I derive a production function that includes energy in an essential manner. It implies that economic growth has been driven by the increase in the energy throughput capabilities of machinery.