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The Peter McCormack Show

Debunking Economics and Why Bitcoin Will Fail With Steve Keen - WBD044

The Peter McCormack Show

Peter McCormack

Power, Politics, Government, Markets, News, Society & Culture, Technology, Society, Inflation, Finance, Bitcoin, Economics, Money

4.72.8K Ratings

🗓️ 2 November 2018

⏱️ 70 minutes

🧾️ Download transcript

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Transcript

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0:00.0

Well, the alternative is recognizing you've got a flawed system. I think one of the great weaknesses of the human species is we have this belief of a perfect world and you find it in every, you know, every culture has its Valhalla. Every society has this ideal world

0:15.3

where everything happens perfectly,

0:17.0

you know, the Garden of Eden, etc, etc.

0:19.7

It's something in our psyche to want something perfect. And what economic theory, neoclassical theory,

0:24.4

promise, was a perfect world on this planet.

0:26.9

So you get sucked into this belief in perfection.

0:30.2

And what Minsky is saying is get used to it.

0:32.2

The real world is not a porcelain doll Hi there, how are you all? Welcome to the What Bitcoin did

0:42.8

podcast where you get to hear from the best minds in Bitcoin and

0:45.3

crypto. I'm your host Peter McCormack and this week I have an interview with

0:48.5

economist Steve Keene, who is the author of debunking economics and can we

0:52.3

avoid another financial crisis.

0:54.6

We discuss the inherent problems in capitalist systems and why he thinks Bitcoin will fail.

0:58.6

And if you want to support the show, please head over to the support section of my website, which is

1:02.1

W.W. what Bitcoin did. dot com and you can see all the ways you can help.

1:06.0

Okay on to the interview Steve I hope you enjoyed.

1:08.0

Hi there Steve how are you?

1:12.0

Very good my favorite is my technology finally in order.

1:15.0

Yeah, we did.

1:16.0

So my podcast is about Bitcoin and cryptocurrency currencies,

1:20.0

and I often have people with some kind of economics background on the

1:25.1

podcast who are usually pro Bitcoin but somebody came to me recently and said I

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