Steve is the author of ‘Debunking Economics’ (2001), a trenchant critique of conventional, neoclassical economics such as the efficient market hypothesis, which shows how mainstream models dangerously distort understanding of the world. In response, Steve has created more realistic macroeconomic models (dynamic disequilibrium money circuit models) and open source programs building on the insights of Hyman Minsky.
In 2005, based on original research into the unsustainable boom in private debt in developed countries, Steve predicted the global financial crisis of 2007/08.
His most recent book ‘Can We Avoid Another Financial Crisis?’ (2017) explains why the crisis happened, and what we have to do to end it.
How this differs from the mainstream
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An economic analysis that won the highest of accolades and spawned influential followers has sharpened the threat from climate change, says Steve Keen. One of the provisions of the Nobel