Steve Keen: Why Economics Is Bunk

Synopsis

Newsnight Economics Editor Paul Mason interviews the controversial economist Steve Keen before an audience at the London School of Economics. Keen was one of a small number of economists who predicted there would be a major financial crisis before the 2008 crash. He argues that if we keep the “parasitic banking sector” alive the economy dies, and says that conventional economics provides an unwitting cover for “the greatest ponzi schemes in history”.

Producer: Kavita Puri.

BBC

3 Comments on "Steve Keen: Why Economics Is Bunk"

BillT on Sat, 4th Aug 2012 1:57 pm 



Perhaps, as mentioned in another article, the world economy is already dead and is just on the machines in the ICU, being kept alive by the Central Banks because they know that it would be the end of Capitalism and any chance of a One World Government?

Economics is on about the level of reading tea leaves without the tea. Even the weathermen get it right more often and can predict when a storm is coming. Economists don’t seem to have even that skill, only hindsight and arguing over who caused what.

dissident on Sat, 4th Aug 2012 4:03 pm 



Everyone should listen to this interview. Keen demolishes the Mickey Mouse economics that defines the mainstream today.

DC on Sun, 5th Aug 2012 8:03 am 



I guess these days, telling the truth and describing the world as it is, not as the media pretends it is, qualifies as controversial.