Ty

So there is an equilibrium for that after all.

😂

An economist is an expert who will know tomorrow why the things he predicted yesterday didn't happen today."

-Lawrence J. Peter

The most "import" tent thing about this quote is the photo I used, specifically his shirt. You're welcome Steve😉😁

YouTube video by Inspire Us Podcast Steve Keen Exposes the Fatal Flaws in Mainstream Economics | S5EP10 Steve Keen Inspire Us Pod

youtu.be/DDQ5s1Ux62U?...

''The great tragedy of the global economic malaise is that it is caused by a shortage of something that is essentially costless to produce: money.''

-Steve Keen

“Such a secondary depression caused by an induced deflation should of course be prevented by appropriate monetary counter-measures. Though I am sometimes accused of having represented the deflationary cause of the business cycles as part of the curative process"

-Friedrich Hayek

I'll probably get cancelled for this...🤷

''Even a modest Basic Income program could become a stepping-stone toward the most profound transformation of all: to unlatch work from livelihood entirely.''

-David Graeber

a close up of a heartbeat on a black background . ALT: a close up of a heartbeat on a black background .

The economy isn’t “alive and well” in equilibrium—no more than a heart is when it flatlines. 😉

Like any complex system, it orbits strange attractors (and repellers), never truly at rest.

YouTube video by Relearning Economics The Surprising Reason I Love ECONOMICS!

My dysfunctional relationship with economics that turned into a bizarre love story.😐 youtu.be/LktJHH9KDzc

"The decline of the West is not necessary or historically inevitable. It is the result of choosing policies dictated by its rentier interests."

-Michael Hudson

“Separate two of the most important issues regarding entitlements: the government’s financial ability to pay and our economy’s productive capacity to deliver promised real benefits.”

-Stephanie Kelton

"The myth that holds that the great corporation is the puppet of the market, the powerless servant of the consumer, is, in fact one of the devices by which its power is perpetuated."

-John Kenneth Galbraith

The vagueness is meant to make the reader think. These posts on Blue sky suck though because my account is shit small, but they pop on X.

She is considered to be the economist that carried John Maynard Keynes forward after his death. One could consider her to be the first of the Post Keynesian school of economics.

So yes, but her books were long and her solutions were in-depth, much more than I want to write. I'd rather us just send selfies to each other...

This model, later formalized mathematically by Kenneth K. Kurihara, provided a framework to understand economic growth without relying on static equilibrium assumptions.

Her growth model analyzed capitalist economies with a focus on capital and labor dynamics, challenging the neoclassical production function.

Her major contribution was her development of post-Keynesian economics, notably through works like The Accumulation of Capital (1956) and Essays in the Theory of Economic Growth.

It reflects her critique of economic theory's reliance on unverified assumptions, a view supported by her 1953 paper "The Production Function and the Theory of Capital," which challenged mainstream capital models.

"Economics limps along with one foot in untested hypotheses and the other in untestable slogans."

-Joan Robinson

However the biggest innovation is the new PFP you have Robin...

Much like humans can produce about 80 watts of output per 8 hours of work, the rest in the modern age has been gained from converting fossil fuel energy into useful human activity energy.

We reached the peak of physical concepts in engineering centuries ago. Everything since has purely been an exercise in exploiting energy.

The example here is that to make that conveyor any faster would require the exploitation of more energy, or converting one form energy to another form of energy adhering to the laws of thermodynamics.

This is actually a great representation of productivity gains pre industrial revolution. Where all gains were from physical improvements, whereas everything post industrial revolution is derived from using more energy.

People don't choose tyranny because they love oppression, they choose it because freedom becomes psychologically unbearable.

"One might even say that it's one of the scandals of capitalism that most capitalist firms, internally, operate communistically."

-David Graeber