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Unlearning Economics: Jon Erickson, Josh Farley, Steve Keen, & Kate Raworth | Reality Roundtable #03

The Great Simplification with Nate Hagens

CHAPTER

The Role of Energy in Economics

The role of energy in economic theory has been debunked by Steve Keene. He says neoclassicals reject this empirical fact because it conflicts with neoclassical theory. Now they continue to trash the model that post-Kansians use to model production called the Leontia of production. They say it makes nonsensical predictions with regard to the evolution of marginal products prices and expenditure shares.

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