Economics professor Steve Keen Does Not Say On The One Hand This Might Happen But On The Other This Could Happen…
How the world economy works is not a secret but only the people at the top of banks tend to actually know, most economists do not. Merely because you are very rich, even the richest man in the world does not mean you would know.
Professor Steve Keen is an economics professor who is a brilliant communicator with his own YouTube channel.
Can The USA Become Bankrupt?
In this video Professor Steve Keen explains how an economy works and that the US National Debt is not as big as problem as Elon Musk et al suggest.
I left a comment under the video which went as follows…
@charleswillcock3235
22 hours ago I have been interested in economics nearly all my life and you are the first economist who does not say one the one hand this might happen, or the on the other hand something else my happen. One of my late father’s favourite jokes was about a king who was looking for a one handed economist. I find your explanation the most believable of all the people who talk about macro economics. For me your explanation is like describing gravity. I could say I do not believe in gravity but it still happens. I have suggested via a tweet that Ben Meiselas? One of the brothers, Ben Meiselas, is an attorney who represented former NFL player Colin Kaepernick. Another brother, Brett Meiselas, is an Emmy-winning video editor who worked for The Ellen DeGeneres Show. And, the third brother, Jordan Meiselas, is a marketing supervisor living in Brooklyn, New York. I have suggested that they have you on their show – they have 5 million subscribers who are not MAGA. Only you can save America and thus much of the world economy from Trump’s attempt to destroy it.
@ProfSteveKeen
8 hours ago
That would be fantastic, thanks for attempting to get me on there. And that’s a good analogy: I call the dominant school of economics “Ptolemaic” these days. They have a model they can fit to the data retrospectively, but it’s as realistic a description of the universe as the Flat Earth-centric model. And of course, they could never handle gravity as a concept.
@charleswillcock3235
8 hours ago @ProfSteveKeen I am just one of their 5 million subscribers but I will keep trying I have no desire to live through a 1930s depression which is where Trump’s policies are likely to take the world economy.
What Makes Prof. Steve Keen Different?
At Bradford University Management Centre the most engaging lectures were presented by those in marketing department. The economics lecture were in the OK category. Prof. Steve Keen however bucks the stereo type when it comes to those who talk about economics. Keen is in a class on his own.
Better still he has a software program which visually illustrates what happens when different policy scenarios are applied. Therefore, Keen does not say, on the one hand this could happen, or on the other this alternative. The model he uses, and demonstrates, allows for the variable to be input and a predicted result is generated.
Why Does This Matter?
Elected politicians are very keen on talking about economics and the why their policies are the right ones. Most of the time countries just muddle along and nothing much changes but now and again someone does something radical.
Elon Musk And Doge
All politicians say Government money should be spent wisely, but often the changes between Governments tend to be style over substance. Elon Musk took a chainsaw approach to reshaping how money is spent in the US. The main impact of which will fall on the least well off it would appear. Were / are these changes necessary to curtail US Government spending? This is where Prof. Steve Keen’s model provides the answer. No, in a word.