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

Steve Keen is a heterodox economist and author. Please support this podcast by checking out our sponsors: – Weights & Biases: https://lexfridman.com/wnb – Skiff: https://skiff.org/lex – Indeed: https://indeed.com/lex to get $75 credit – NetSuite: http://netsuite.com/lex to get free product tour – InsideTracker: https://insidetracker.com/lex to get 20% off EPISODE LINKS: Steve’s Twitter: https://twitter.com/profstevekeen The New Economics (book): https://amzn.to/3zb4eg4 PODCAST INFO: Podcast website: https://lexfridman.com/podcast Apple Podcasts: https://apple.co/2lwqZIr Spotify: https://spoti.fi/2nEwCF8 RSS: https://lexfridman.com/feed/podcast/ YouTube Full Episodes: https://youtube.com/lexfridman YouTube Clips: https://youtube.com/lexclips SUPPORT & CONNECT: – Check out the sponsors above, it’s the best way to support this podcast – Support on Patreon: https://www.patreon.com/lexfridman – Twitter: https://twitter.com/lexfridman – Instagram: https://www.instagram.com/lexfridman – LinkedIn: https://www.linkedin.com/in/lexfridman – Facebook: https://www.facebook.com/lexfridman – Medium: https://medium.com/@lexfridman 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