Steve Keen: Economics

Steve Keen is Australian economist. Explore interesting quotes on economics.
Steve Keen: 54   quotes 0   likes

“Rather like the Bible is for many Christians, the General Theory is the essential economics reference which few economists have ever read.”

Steve Keen

Source: Debunking Economics - The Naked Emperor Of The Social Sciences (2001), Chapter 9, The Sum Of The Parts, p. 199

Reading

“There are numerous theorems in economics that rely upon mathematically fallacious propositions.”

Steve Keen

Source: Debunking Economics - The Naked Emperor Of The Social Sciences (2001), Chapter 12, Don't Shoot Me, I'm Only The Piano, p. 259

Mathematics

“The position I favor is that economics is a science, but a rather pathological one.”

Steve Keen

Source: Debunking Economics - The Naked Emperor Of The Social Sciences (2001), Chapter 7, There Is Madness In Their Method, p. 148

Science

“The term 'capital' has two quite different meanings in economics: a sum of money, and a collection of machinery.”

Steve Keen

Source: Debunking Economics - The Naked Emperor Of The Social Sciences (2001), Chapter 6, The Holy War Over Capital, p. 130

Money

“Trusting souls who accept economic assurances that markets are efficient are unlikely to fare any better this time when the Bull gives way to the Bear.”

Steve Keen

Source: Debunking Economics - The Naked Emperor Of The Social Sciences (2001), Chapter 10, The Price Is Not Right, p. 215

Way , Soul , Time

“Economics is not the Emperor of the social sciences, but the Humpty Dumpty.”

Steve Keen

Source: Debunking Economics - The Naked Emperor Of The Social Sciences (2001), Chapter 3, The Price Of Everything And The Value Of Nothing, p. 83

Science

“Though mainstream economics began by assuming that his hedonistic, individualistic approach to analysing consumer demand was intellectually sound, it ended up proving that it was not.”

Steve Keen

Source: Debunking Economics - The Naked Emperor Of The Social Sciences (2001), Chapter 2, The Calculus Of Hedonism, p. 23

“This ascendancy of economic theory has not made the world a better place. Instead, it has made an already troubled society worse: more unequal, more unstable, and less 'efficient.”

Steve Keen

Preface, p. xiv
Debunking Economics - The Naked Emperor Of The Social Sciences (2001)

World

“Economic theory in general ignores processes which take time to occur, and instead assumes that everything occurs in equilibrium.”

Steve Keen

Source: Debunking Economics - The Naked Emperor Of The Social Sciences (2001), Chapter 8, Let's Do The Time Warp Again, p. 166

Time

“You have a voice, which has been perhaps been quiescent on matters economic because you have in the past deferred to the authority of the economist. There is no reason to remain quiet.”

Steve Keen

Source: Debunking Economics - The Naked Emperor Of The Social Sciences (2001), Chapter 14, There Are Alternatives, p. 313

Past

“What makes economics different from and inferior to other sciences is the tenacity with which it holds to its core beliefs in the face of either contrary factual evidence or theoretical critiques that establish fundamental inconsistencies in its intellectual apparatus.”

Steve Keen

Source: Debunking Economics - The Naked Emperor Of The Social Sciences (2001), Chapter 7, There Is Madness In Their Method, p. 158

Science

“The obsession with equilibrium has imposed enormous costs on economics.”

Steve Keen

Source: Debunking Economics - The Naked Emperor Of The Social Sciences (2001), Chapter 8, Let's Do The Time Warp Again, p. 177