Top Economist: The unthinkable is about to happen to economic models

About this episode

Dr. Steve Keen discusses the flaws in modern economic models and the implications of exposing the supply and demand model as a fabrication.

📚 Learn 50+ years of Real Economics in only 7 weeks. Apply here: https://www.stevekeen.com/supplyanddemand (Apply this week and get my 3-Book Rebel Economist Bundle as a Free Bonus. Plus if you're fully approved by my team, get Ravel© - my proprietary economic visualization software I use in my YouTube videos; to predict the economy, like I did years before the 2008 Financial Crash happened). Is the foundation of modern economics built on a lie? What happens to governments, corporations, and global markets when the most powerful model in economic history supply and demand is exposed as a complete fabrication? As 80 years of empirical research has accumulated proving the model wrong, and as mainstream institutions continue to ignore it, the shockwaves of that denial are distorting policy, pricing, and public understanding of how the world actually works.In this in-depth economics explained breakdown, we analyze how the neoclassical supply and demand model was constructed on two unverified assumptions rising marginal costs and utility maximization and how independent surveys conducted since the 1950s have systematically destroyed both of them. This is not theory. This is data.The…

People in this episode

Host: Dr. Steve Keen

Topics covered

• economic models
• supply and demand
• neoclassical economics
• empirical research
• economic visualization

Keywords

• economic models
• supply and demand
• neoclassical economics
• marginal costs
• utility maximization
• empirical research
• economic visualization
• 2008 Financial Crash

Mentioned in this episode

Organizations: Oxford Economic Research Group

Products: Ravel©

Books & works: Rebel Economist Bundle

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