Breaking the Bad Habits of Economics: put that “equilibrium” out!

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This is a talk I gave to under­grad­u­ate stu­dents at Car­tane­ga Uni­ver­si­ty in Colom­bia last week, com­par­ing the insis­tence on equi­lib­ri­um mod­el­ling by econ­o­mists to the bad habit of smok­ing.

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About Steve Keen

I am Professor of Economics and Head of Economics, History and Politics at Kingston University London, and a long time critic of conventional economic thought. As well as attacking mainstream thought in Debunking Economics, I am also developing an alternative dynamic approach to economic modelling. The key issue I am tackling here is the prospect for a debt-deflation on the back of the enormous private debts accumulated globally, and our very low rate of inflation.