Summary: KMO welcomes Steve Keen, author of Debunking Economics back to the C-Realm to discuss the particulars of Steve's recent blogosphere joust with Paul Krugman. Steve explains that Neoclassical economists, like Krugman, do not include debt, banks, money or energy in their economic models which puts them at a distant remove from the real world systems they are supposed describe and predict. The conversation includes discussion of climate, peak oil, and an economy in which even big energy producers like Chesapeake Energy are more focused on financial speculation than on industrial activity. Music by AllFlaws. Join KMO at the 3rd Full Circle Series Event for a talk by Michael Goodwin, author of Economix: How Our Economy Works (And Doesn't Work) In Words and Pictures on December 14th, 2012.
