How Economists Got Climate Change Wrong

Steve Keen, economist and author, joins Decouple host Dr. Chris Keefer to explain how modern economics has catastrophically misunderstood the role of energy in our world and underestimated the risks of climate change through oversimple models. In this in-person conversation, we discuss the evolution of economic thinking since feudalism, the shortcomings of prevailing economic models, modern monetary theory, the role of state capitalism in funding large infrastructure projects, and much else. Episode title on podcast apps: "A Heterodox Economics Lesson" Listen to Decouple on: • Spotify: https://open.spotify.com/show/6PNr3ml... • Apple Podcasts: https://podcasts.apple.com/us/podcast... • Overcast: https://overcast.fm/itunes1516526694/... • Podcket Casts: https://pca.st/ehbfrn44 • RSS: https://anchor.fm/s/23775178/podcast/rss Website: https://www.decouple.media Chapters: 00:00 Introduction 05:12 History of economics in stages 14:20 Physiocracy 21:57 Classical economics 30:25 Energy blindness 36:18 Neoclassical economics 41:33 Utopianism in economics 44:40 Monetary theory 57:53 Climate change economics 1:22:07 State capitalism 1:25:49 What is money? 1:35:38 The future of economics amid climate change