Prof Steve Keen is a profound critic of Neoclassical economics and the author of “Debunking Economics” and several papers and courses on reframing macroeconomics. He is also ranked the 18th most influentail economist today. https://richtopia.com/inspirational-people/top-100-economists
He is a strong proponent of the Minsky model and has operationalized it for policy and real-time tracking. His new book, “Can we avoid another Financial crisis” is a great read, very well researched and forcefully argued.
In this podcast, we discussed
- his critique of the standard economic model
- how he saw the global crisis of 2008,
- the Minsky model, and
- How he sees the possibility of further crises
Many Pakistanis are very suspicious of neoclassical economics and yes there is good reason to be. Indeed, critical thinking requires that we examine critiques and not swallow any one theory as dogma.
I am very grateful to professor Keen for giving us an education in good economics that is different from what most of us are taught in class.
So enjoy and think about how you can develop build your own research on development or on Pakistan using Steve’s work.
Listen to this and let us reinvigorate research and debate into change.
Listen to this fascinating discussion. There is much to learn and research here.
You can also look at my book “Looking Back: How Pakistan Became an Asian Tiger in 2050” now available in hard copy in Pakistan. Soft copy here. https://www.amazon.com/Looking-Back-Pakistan-Became-Asian-ebook/dp/B06X94135J/ref=sr_1_1?s=books&ie=UTF8&qid=1488133596&sr=1-1&keywords=nadeem+haque
Listen and learn and write some papers on this subject. Don’t forget to cite Soch Bichar
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