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

The Great Simplification with Nate Hagens

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The Paradigm Blindness of Humanity

"Economists are irrational," he says. "I've had a lifetime of experiencing this in the sense that, since I predicted the global financial crisis, one of about a dozen economists who did." A barrel of oil has 1,700 kilowatt hours of work potential, which is years of human labor,. So an economist is not going to want to look through that telescope because obviously that implies a much larger value addition than its cost share to the economic function".

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