http://letthemconfectsweeterlies.blogspot.com/2013/09/capitalist-dead-horse-flogs-99.html 23 September 2013
That people exchange things , trade things gift things and so forth is quite natural to say that this is a behavior ascribable to a market or that due to the nature of or existence of markets, people do these things is non-nonsensical .The concept of the Market in a Capitalist sense gets further away from human nature. Commerce exchange and trade would exist without capitalism and without our conception of Market.
“This is Keen explaining his reasons for pursuing his dynamic systems modelling with the importance of debt & money factored in drawing on, well, his entire academic career.
I think Keen is miles ahead in understanding how a real macro economy works & why the present mainstream thinking is so utterly crap & deeply corrupted by vested interests. Keen’s distinction between the ‘dynamic’ (mathematically ‘chaotic’) system that is reality versus the ‘equilibrium’ or static system it is assumed to be, is massively important in considering macro policy.
Engineers & mathematicians should grasp this immediately. But Keen makes a good effort at explaining this for others, and I think he absolutely nails probably the most important aspects of money & macro, drawing on insights & critiques of Marx, Schumpeter, Keynes, Fisher, Kalecki, Goodwin, Minsky and others. Top stuff”
Mike Hall ( pre MMT is the truth and Light Cnversion) .
´´ I am a big fan of Steve Keen and particularly his work on Minsky’s instability hypothesis. Ceteris paribus, is an analysis tool it has nothing to do with natural systems where Pante Rhei rules
I accept what freedom is about, but not that Freedom qua free is what ´´Free Market ´´is about. I do not know if that is so. In a pure sense of a perfect knowledge where all transactions are fully informed of all the facts and all participants participate on their own terms, would that or could that ever exist?
Keens Blog is linked here I have been reading it for several years http://www.debtdeflation.com/blogs/
Some links to some more blasphemy against Capitalism.
And Finally on the dangers of Zealous Ideology.
2 thoughts on “Flogging the 99%. Keen explaining his reasons for pursuing his dynamic systems modelling with the importance of debt & money factored in . Is There a God of Markets”