Steve Keen is an economist, critic, and author who believes our current economic theories fail to properly deal with private debt, the role of banks in money creation, and more generally fail to take into account real-world contradictions to theoretical predictions at the margins. We talk about the creation of money, deflationary crises, speculation vs innovation, how to distribute public vs private spheres, and his vision for the future of economics. Support the scientific revolution by joining our Patreon: https://bit.ly/3lcAasB Support the podcast and Dr. Keen by buying one of his books on Amazon: https://amzn.to/3YZb2HJ Let us know what you think in the comments or on our Discord: https://discord.gg/MJzKT8CQub 00:00:00 Go! 00:03:17 What is the goal of economics? 00:11:48 Punctuated Equilibrium & System Dynamics 00:18:20 Economics 2.0 00:23:27 The Creation of Money 00:35:21 Godley and Minsky 00:44:54 Why is double entry bookeeping bad? 00:50:09 Alternative paths to money creation CLIP IN 00:56:09 Deflationary Crises 01:10:35 Building an Audience 01:13:49 Public Vs Private 01:24:58 Speculation vs Innovation 01:27:11 What would you do to fix it? 01:30:22 Closing thoughts #economics #bank #financial Check our short-films channel, @DemystifySci: https://www.youtube.com/c/DemystifyingScience AND our material science investigations of atomics, @MaterialAtomics https://www.youtube.com/@MaterialAtomics Join our mailing list https://bit.ly/3v3kz2S PODCAST INFO: Anastasia completed her PhD studying bioelectricity at Columbia University. When not talking to brilliant people or making movies, she spends her time painting, reading, and guiding backcountry excursions. Michael Shilo also did his PhD at Columbia studying the elastic properties of molecular water. When he's not in the film studio, he's exploring sound in music. They are both freelance professors at various universities. - Blog: http://DemystifySci.com/blog - RSS: https://anchor.fm/s/2be66934/podcast/rss - Donate: https://bit.ly/3wkPqaD - Swag: https://bit.ly/2PXdC2y SOCIAL: - Discord: https://discord.gg/MJzKT8CQub - Facebook: https://www.facebook.com/groups/DemystifySci - Instagram: https://www.instagram.com/DemystifySci/ - Twitter: https://twitter.com/DemystifySci MUSIC: -Shilo Delay: https://g.co/kgs/oty671