Including energy in economic models. It doesn’t have to be that difficult.

Debunking Economics - the podcast

Kandungan disediakan oleh Steve Keen & Phil Dobbie, Steve Keen, and Phil Dobbie. Semua kandungan podcast termasuk episod, grafik dan perihalan podcast dimuat naik dan disediakan terus oleh Steve Keen & Phil Dobbie, Steve Keen, and Phil Dobbie atau rakan kongsi platform podcast mereka. Jika anda percaya seseorang menggunakan karya berhak cipta anda tanpa kebenaran anda, anda boleh mengikuti proses yang digariskan di sini https://ms.player.fm/legal.

5M ago 37:37

MP3•Laman utama episod

So, if economics is all about the allocation of scarce resources, isn’t energy the most scarce resource? And yet its not really included in any economic models. We look at labour and capital as the drivers of growth, but energy is just a contributor to those factors, not a key factor in itself. Yet without energy humans wouldn’t survive and machines would lie dormant. This week Phil talks to Steve about the need to give energy the dominant position it deserves in economic models. As you’ll discover, it doesn’t have to be that complicated. Then, once we have a clear model we can use them to ensure that we deliver economic growth without destroying the planet. Simples.

Hosted on Acast. See acast.com/privacy for more information.

581 episod

#Economics #Business #Business Disciplines #Steve Keen & Phil Dobbie #Phil Dobbie #Steve Keen #Keynesian #Monetary #Money #Science #Podcasting Education #Social Sciences #MMT