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Lex Fridman Podcast

#303 – Steve Keen: Marxism, Capitalism, and Economics

Lex Fridman Podcast

Lex Fridman

Philosophy, Science, Society & Culture, Technology

4.713.6K Ratings

🗓️ 17 July 2022

⏱️ 217 minutes

🧾️ Download transcript

Summary

Steve Keen is a heterodox economist and author. Please support this podcast by checking out our sponsors:
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OUTLINE:
Here’s the timestamps for the episode. On some podcast players you should be able to click the timestamp to jump to that time.
(00:00) – Introduction
(07:26) – Defining economics
(14:26) – Schools of economics
(38:45) – Karl Marx
(57:00) – Labor theory of value
(1:16:45) – Socialism
(1:31:48) – Soviet Union
(1:45:08) – China
(2:05:00) – Climate change
(2:27:03) – Economics vs Politics
(2:35:06) – Minsky’s model
(2:49:50) – Financial crisis
(2:55:07) – Inflation
(3:08:21) – Marxism
(3:15:42) – Space and AI
(3:21:47) – Advice for young people
(3:25:38) – Depression
(3:30:10) – Love
(3:34:11) – Mortality

Transcript

Click on a timestamp to play from that location

0:00.0

The following is a conversation with Steve Keane, a brilliant economist that criticizes

0:04.4

much of modern economics and proposes new theories and models that integrate some ideas

0:09.8

and ditch others from very thinkers, from Karl Marx to John Maynard Keynes to Hammond

0:15.5

Minsky.

0:16.5

In fact, a lot of our conversation is about Karl Marx and Marxian economics.

0:22.3

He has been a scholar of Karl Marx's work for many years, so this was a fascinating

0:28.5

exploration.

0:29.8

He has written several books I recommend, including the new economics and manifesto and the

0:35.5

bunking economics.

0:39.1

And now a quick two second mention of each sponsor.

0:41.8

Check them out in the description.

0:43.3

It's the best way to support this podcast.

0:45.6

We got weights and biases for machine learning, skiff for email, indeed for hiring, net

0:52.3

suite for efficiency and inside tracker for longevity.

0:57.0

Choose wise and my friends.

0:58.5

And now onto the full ad reads.

1:00.2

As always, no ads in the middle.

1:01.8

I try to make these things interesting, but if you skip them, if you must, please still

1:05.8

check out the sponsors.

1:07.5

I enjoy their stuff.

1:09.1

Maybe you will too.

1:11.2

This show is brought to you by a new sponsor, weights and biases.

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