ProfSteveKeen - Invidious

ProfSteveKeen

A critical look at economics from a Professor of Economics.

For more join my Patreon page www.patreon.com/profstevekeen or my Substack profstevekeen.substack.com/

Check out my unique simulation and analysis program Ravel. Signup at patreon.com/ravelation.

Learn 50+ Years of Economics in Only 7 Weeks, by applying here: www.stevekeen.com
(Plus get Ravel™— the economic visualization tool use in my videos, as a bonus if you’re accepted & join.)

View channel on YouTube

Switch Invidious Instance

Videos

Shorts

Livestreams

Podcasts

Courses

Playlists

Posts

ProfSteveKeen

The Quiet Wealth Transfer. From Wages to Debt.

For decades, the story you were sold was simple: "Work hard, get educated, and you’ll be fine."

But behind the scenes, the engine of the economy was swapped out. We stopped powering growth with wages and started powering it with private debt.

The real macro bomb was never public debt - it was private debt. Before the 2008 crisis, U.S. government debt was about 60% of GDP. But private debt had surged up to 170% of GDP.

And that trend didn't stop.

Today, private debt remains elevated at around 145% of GDP. Higher than any pre-2000 level.

Every major modern crisis - the Great Depression, 2008 - was preceded not by government deficits, but by a collapse in private credit.

When that credit engine stalls, the economy crashes. Mainstream economists ignored this.

They told you banks were just "intermediaries." They lied.

Banks create money, and they pumped that money into existing assets - houses - rather than factories or innovation.

3 days ago | [YT] | 767

View 85 replies

ProfSteveKeen

When a bank gives you a $1 million mortgage, they don't get poorer. They type new money into your account.

The seller now has $1 million.

The money supply just increased by $1 million.

I demonstrate this with simple double-entry bookkeeping in my latest video

#banks #finance

1 week ago | [YT] | 69

View 13 replies

ProfSteveKeen

After 50 years of challenging neoclassical orthodoxy, I've learned that the economics taught in most universities is fundamentally disconnected from how modern monetary economies actually function.

The failure to predict the 2008 crisis wasn't an outlier. It was the predictable result of models that exclude banks, ignore private debt dynamics, and assume markets automatically equilibrate.

I created the Seven-Week Rebel Economist Challenge to provide what I believe every economics student should learn first: reality-grounded economics that incorporates double-entry bookkeeping, endogenous money creation, and financial instability.

The curriculum covers:

- Modern monetary mechanics and how banks actually create purchasing power

- The role of private debt in driving economic cycles and asset bubbles

- Dynamic modeling using Ravel, the software I developed for analyzing multidimensional economic data

- Why energy and thermodynamics matter for economic modeling

- How to build models that can actually anticipate financial crises

This week only, we're offering our annual Black Friday promotion. Accepted students receive exclusive bonuses, including full Ravel access, which I use in my own research and teaching.

The program includes twice-weekly live sessions where I share my latest research and answer questions directly.

You'll join a community of over 800 professionals, researchers, and students committed to understanding economics from first principles rather than ideological assumptions.

If you're frustrated with mainstream economics and want to understand the operational mechanics of modern economies, this is your opportunity.

Offer ends today: cyber.stevekeen.com/

1 week ago (edited) | [YT] | 51

View 1 reply

ProfSteveKeen

If no one can afford a home except the super wealthy, then where are we heading?

#realestate

1 week ago | [YT] | 33

View 6 replies

ProfSteveKeen

For 50 years, I've been building an alternative to the economics they teach in universities.

The economics that failed to predict 2008.

The economics that tell you house prices are just supply and demand.

The Seven-Week Rebel Economist Challenge gives you what I wish I'd learned in my first year: how money actually works, why private debt matters, and how to use Ravel to model the real economy.

Black Friday offer ends Friday.

Details in comments.

#Economics #BlackFriday #RebelEconomist