The Escaped Sapiens Podcast cover image

Marx, Capitalism, and Neoclassical Economics | Steve Keen | Escaped Sapiens #65

The Escaped Sapiens Podcast

00:00

Economists' Shortcomings in Managing the Economy

The chapter critiques economists for failing to predict the 2007 financial crisis due to reliance on outdated models and neglecting crucial factors like private debt. It discusses flaws in traditional economic theories and highlights the importance of considering private debt and the monetary system in economic modeling. The conversation explores government deficits, borrowing, private debt, and money creation, as well as the impact of government policies on credit money and the financial system.

Transcript
Play full episode

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!
App store bannerPlay store banner
Get the app