Steve Keen

Steve Keen: Marxism, Capitalism, and Economics | Lex Fridman Podcast #303

Steve Keen, Lex Fridman

Steve Keen critiques neoclassical economics and Marxian theory by arguing that financial instability and climate collapse result from fundamental modeling errors regarding money as a liability and the neglect of planetary boundaries. He contends that current democratic systems lack the capacity to address these systemic crises, suggesting that hybrid centralized models or radical technological shifts may be necessary to prevent societal collapse. Ultimately, Keen calls for a paradigm shift away from obsolete economic doctrines toward system dynamics and an ecological worldview that prioritizes biosphere preservation over individual market freedom.