Over the Fiscal Cliff - Professor Steve Keen

The world's top economist, Dr. Steve Keen, professor of economics, University of Western Sydney, Australia and author of the book Debunking Economics speaks to the International Conference on Sustainability, Transition and Culture Change: Vision - Action - Leadership on the truth or consequences of the so-called "Fiscal Cliff" and what might be expected if the USA went "over". Keen also discusses his speech at a United Nations conference in Bangkok, the outcome of his work with the Field's Institute at the University of Toronto, and his work into modeling money and financial flows.

Dr. Keen provides a detailed analysis of the "fiscal cliff" here:

Keen followed this talk with four hours of new materials on Sunday, November 18, 2012 at the International Conference on Sustainability, Transition and Culture Change: Vision - Action - Leadership sponsored by Local Future, a non-profit educational organization.

EXTENDED BIOGRAPHY

Dr. Steve Keen received the Revere Award from the Real World Economics Review in 2010 for being the economist who most cogently warned of the economic crisis, and whose work is most likely to prevent future crises. He is Professor of Economics & Finance at the University of Western Sydney and author of "Debunking Economics" (2012).

Extended Biography of Steve Keen

Dr. Keen was able to predict the crisis due to economic work that expands upon Keyes, Fischer, and Minsky, utilizing an accounting, flow of funds or circuit model. He was one of the few economists studied for the paper "No One Saw This Coming" (2009) by Bezemer, Dirk J. He is commonly interviewed by TV stations and written up in the press. He is often invited to meetings of financial advisors, hedge funds and economic conferences, world wide.

It's Time to Put Money Into the Equation (includes video interview)

Dr. Keen's excellent communication skills were honed in his pre-academic career, which included stints as a school librarian, education officer for an NGO, conference organizer, computer programmer, journalist for the computer press, and economic commentator for ABC Radio National and Radio Australia.

[joesousa]

Steve Keen is easily the world's most valuable economist to have on your side.

[thomasd]

10:00 -
10:28 - Keen Model based on 1995 paper of Minsky's Instability Hypothesis
THE FIELDS MEDAL - For those who do not fumble the number
12:22 -
12:30 - Combine Scientists and Mathematicians
12:44 - Fields Institute . . . neoclassical economists
13:13 - Let us mathematicians help the economists as well
The 2010 Fields Institute of Mathematicians and Economists
13:23 -
13:35 - Mathematicians of the Fields Institute asked the world's math-economists:
-The answers they received amounted to, "Don't know. W D Y T ?"
13:40 - Leading Mathematical Economists had no idea why
AUG 2007 was a phase change of the GREATER DEPRESSION
13:50 - This surprised the Fields Institute Mathematicians
13:57 - Someone asked if anyone in economics knew about CYCLES ?
14:00 - Matheus Grasselli is a Professor at McMaster University and the Deputy
Director of the Fields Institute for Research in Mathematical Sciences.
14:56 - The reply : Read Kindleberger . . . Kindleberger mentions Hyman Minsky
14:25 -
14:33 - There must be many models of in
the MATHEMATICAL ECONOMIC LITERATURE . . . Nope. No ??? Yup.
Yup, yes or Yup nope ? Yup. Well, which then ??? Nope. ROFLMAO
14:37 - Found only one : By Professor Steve Keen
15:03 -
15:15 - Working on model
15:27 -
15:40 - Then the crisis happened and they don't know
15:44 - Suddenly, Mathematicians are on the side critical of neoclassical theory

[RipTheJackR]

Oh my god, yes, he talks about the "quality of growth in asia", and elaborates some of this, of what he just did. And the interviewer was completely out of it, instantly - amazing.

[LocalFuture]

Dr. Keen spoke in Washington D.C. to go into detail on how the fiscal cliff is similar to failed policies of the 1930s that kept the nation in depression:

(see the description above)

[NwoDispatcher]

gotta get into space. that should be our top priority

[MrManny]

Are the chines building 6 cities the size of Sidney to house Australians ? cause he seem to say they are not distributing wealth, it doesn't makes sense .

[Lordbeemans]

Dear god, the questioner was painfully dull.
Keen was interesting as usual!

[CusterFlux]

"Dahkter of Akanahmicks", it's a bit of a giggle ...

[thomasd]

15:44 - Suddenly, Mathematicians are on the side critical of neoclassical theory
17:09 - FISCAL CLIFF - - - CLISCAL FLIFF lol

[devlieger]

Keen will repair what Milton Friedman destroy

[BRAIDERMAN]

Well why should an Australian economist necessarily have to know when the American economy reaches its 'fiscal cliff'? I notice that an american audience and an american interviewer weren't too forthcoming with any answers, so speaks heaps about the general awareness of the american public! After all - their the ones who are going to go over it in a big way - can't understand why the interviewer was so / passive / slow / & disinterested ?