meta_pixel
Tapesearch Logo
Log in
The Great Simplification with Nate Hagens

Steve Keen: "On the Origins of Energy Blindness"

The Great Simplification with Nate Hagens

Nate Hagens

Natural Sciences, Earth Sciences, Science

4.8553 Ratings

🗓️ 7 February 2024

⏱️ 93 minutes

🧾️ Download transcript

Summary

On this episode, economist Steve Keen offers a deep forensic history of why modern economic theory has neglected the role of energy in productivity - and why this "Energy Blindness" is now a major blindspot in how our culture views the present - and the future.  The massive, temporary carbon surplus we've extracted over the last few centuries has resulted in an exponential increase in the standard of living for many. This explosion of global economic growth also happened to coincide with the development of all modern economic theories and formulas, leading to a core misunderstanding in the way our economies are powered. How have technology and innovation been used to cover up the role of a growing energy supply in the last century of rising prosperity? In the midst of discussions between value and labor, where does energy really fit into the equation? Where do we go once we understand the true role of energy in our economy - and will we have the ability to reshape economic policies to be in line with our energy realities?

About Steve Keen

Steve Keen is an economist, author of Debunking Economics and The New Economics: A Manifesto. His new book, Rebuilding Economics from the Top Down, will be released in 2024. He is a Research Fellow at the Institute for Strategy, Resilience, and Security at University College in London. Steve was one of the handful of economists to realize that a serious economic crisis was imminent, and to publicly warn of it from as early as December 2005. This, and his pioneering work on modeling debt-deflation, resulted in him winning the Revere Award from the Real World Economics Review.

Watch on YouTube: https://youtu.be/lrMWSkzrMYg

Show notes, and more info: https://www.thegreatsimplification.com/episode/108-steve-keen 

Transcript

Click on a timestamp to play from that location

0:00.0

You're listening to the Great Simplification.

0:05.5

I'm Nate Higgins.

0:06.7

On this show, we describe how energy, the economy, the environment, and human behavior all fit together and what it might mean for our future.

0:15.7

By sharing insights from global thinkers, we hope to inform and inspire more humans to play emergent roles

0:22.5

in the coming great simplification.

0:28.4

I'd like to welcome Professor Steve Keene back to the podcast.

0:33.6

Steve is author of debunking economics and the new economics a manifesto. Steve is author of debunking economics and the new economics, a manifesto.

0:40.8

Steve is, among many other things, a research fellow at the Institute for Strategy,

0:45.5

resilience, and Security at University College in London.

0:49.0

He is writing a new book.

0:51.4

And today we discuss one of the chapters in his book, which is a economic sleuth

0:59.7

story on the origins of energy blindness. We go back all the way to Adam Smith and look at a series

1:07.7

of wrong turns in the road that classical and that neoclassical economists made

1:16.7

on the treatment of land, energy, and things that are not capital and labor. This is a difficult

1:24.0

podcast. Steve is an economist talks in a lot of economist language.

1:30.1

I barely understood what he was saying, but I did understand the critical

1:35.2

importance of his main message is that our main shaman of our culture today, those that

1:42.7

we look to for answers and explanations of what's happening

1:46.7

and what will happen in the future are truly divorced from our biophysical and ecological

1:52.7

reality in their formulas. So this ultimately is a really big deal. There's a chapter in

2:00.3

Steve's upcoming book on that. But this is a really big deal. There's a chapter in Steve's upcoming book on that.

2:02.3

But this is a one and a half hour treatment of energy blindness and its origins.

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from Nate Hagens, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Nate Hagens and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2026.