#303 – Steve Keen: Marxism, Capitalism, and Economics
Lex Fridman Podcast
Reframing Economics: Understanding Value and Money
This chapter explores the fundamental purpose of economics, advocating for a focus on human civilization's development and sustainability. It critiques traditional economic methodologies, particularly the reliance on difference equations, while calling for a shift towards a more holistic understanding of complex systems through differential equations. The discussion also examines the evolution of economic theories and the intricate relationship between money, assets, and liabilities, highlighting the necessity for a modern approach to address the challenges within economic systems.
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