Re:Economists effectively assume that capitalism is unnecessary
by dredmorbius on Monday October 26, 2015 @03:09PM
(#10453672)
If you're going to mention Keen, you should note that his true hero and influence (reflected in the name of his analytic software) is Hyman Minsky, a rather underappreciate 20th century economist (not to be confused with the AI researcher Marvin Minsky, whom I'd initially referenced, since edited):
https://en.m.wikipedia.org/wiki/Hyman_Minsky
Yes, Keen does abstract from both Keynes and Hayek (who's among the less-strident Austrian School types), but neither are his primary focus.
Re:Economists effectively assume that capitalism is unnecessary
by carsongross on Monday October 26, 2015 @03:24PM
(#10453773)
Thank you for mentioning that, I should have pointed it out in my initial comment.
Re:Economists effectively assume that capitalism is unnecessary
by dredmorbius on Monday October 26, 2015 @05:38PM
(#10454674)
To be fair, Keen neglected to mention it in the entry as well. Interesting, as he frequently does.
And he did conspicuously mention Hayek.
Re:Economists effectively assume that capitalism is unnecessary
by latj on Monday October 26, 2015 @02:04PM
(#10453137)
I had never heard of him but the title of this article is beyond a literary device- it is bait-and-switch. It is dishonest. You expect this from from shifty clickbait websites hawking beauty tips and lists of top 10 ___ "they" dont want you to know about. But you cannot take anyone serious who writes an article like this.
Re:Economists effectively assume that capitalism is unnecessary
by carsongross on Monday October 26, 2015 @02:16PM
(#10453239)
The title is a joke. Yes, it's provocative, but give the guy a break: he's a small time economist at a second-tier university in an island nation who is saying some of the most interesting things about economics in the world today.
You would be doing yourself a disservice not reading his stuff based on a blog post title.
Re:Economists effectively assume that capitalism is unnecessary
by latj on Monday October 26, 2015 @04:21PM
(#10454178)
Well, your description of him hits a little too close to home so I guess I have to give him a second chance.
Also I wrote "hawking". haha.
He is very difficult to categorize: he is a liberal Australian academic who is an admirer of both Keynes and Hayek, and has built upon and synthesized both of their work. He does a lot of computer simulations of economies using real-world behaviors (e.g. mark-up pricing) and has generated results and opinions that are guaranteed to annoy pretty much everyone.
He blogs at Forbes (which is funny, given his politics):
http://www.forbes.com/sites/stevekeen/
And has a great book out that takes on classical economics:
http://www.amazon.com/Debunking-Economics-Revised-Expanded-D...