Steve Keen of Kingston University, London gives an important high-level talk on the considerable shortcomings of mainstream economics. Keen argues a major objective of the discipline is to justify the virtues of markets, which in turn leads disciples to adopt a strongly ideological posture along with highly simplified models and narrow mathematical approaches to reach conclusions they find acceptable.
”Gonçalo Fonseca interviewed me on my approach to economics at the Institute for New Economic Thinking (INET) conference in Edinburgh last year. INET has just published extracts of the interview as “How mainstream economics became a cult“.
It’s an excellent edit: I come across more convincingly than I think I deserve! This is partly because of the top notch production qualities in the video, but it’s also because Gonzalo–who is edited out in the production itself–is a brilliant scholar of the history of economic thought. Having a dialogue with him was a pleasure.
On that note, Gonzalo (with Leanne Ussher) produced a magnificent online resource on the history of economic thought back in the early 2000s. It languished for some years, but has now been revived by INET here: http://www.hetwebsite.net/het/. I highly recommend checking it out.”
~ Steve Keen