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Podcast: The Peter McCormack Show
Episode: #134 - Steve Keen - How Modern Economics Became Ideology
Description: Modern economics is built on competing theories that often describe the world in very different ways. In this conversation, economist Steve Keen sets out his explanation for how money works, why he believes mainstream economic models fail, and why debt, banking and housing play a far greater role in economic crises than most policymakers acknowledge. Keen's perspective challenges the assumptions of neoclassical, Keynesian and Austrian economists alike. In this episode we discuss: – How economics became political ideology – Why neoclassical theory broke the West – The Left vs Right illusion in economic policy – What mon...