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If you thought you understood the urgency of climate change, our guest, Professor Steve Keen, will shatter those illusions. We’ll be straight with you, this is not an easy episode to hear – but you need to listen anyway. How can we deal with the effects of climate change if we don’t understand the urgency? Professor Keen won’t sugar coat it but he can back up every statement with facts, figures, and astute analysis.
Throughout the interview, he refers to – and debunks – the work of William Nordhaus, who won the Nobel Prize for Economics in 2018 “for integrating climate change into long-run macroeconomic analysis.”
From Left Foot Forward:
“When future generations ask why humanity delayed taking action against climate change for so long, Nordhaus’s model will be one of the prime suspects. The model, known as DICE – Dynamic Integrated model of Climate and the Economy – is a dangerous gamble for humanity’s future. Nordhaus’s transgressions are immense. His ‘damage function’ which he uses to estimate global warming damage is incorrect and uses data that has nothing to do with climate change. Despite this, the Intergovernmental Panel on Climate Change (IPCC) uses his model to advise governments about the economic impact of global warming.”
Nordhaus’s sins trace back to his attacks on 1972’s “Limits to Growth” study. The predecessors to our contemporary climate deniers dismissed its findings, yet it has been proven remarkably accurate. In this interview, Professor Keen compellingly compares facts to fancy. As his home country of Australia is ablaze, he explains why this was predictable. What you learn in this episode will enrage and probably depress you. We can’t afford to ignore it; ignorance is not an option.
Professor Keen is a Distinguished Research Fellow at UCL, the author of Debunking Economics (2011) and Can We Avoid Another Financial Crisis? (2017), and one of the few economists to anticipate the Global Financial Crisis of 2008, for which he received the Revere Award from the Real World Economics Review. His main research interests are developing the complex systems approach to macroeconomics and the economics of climate change.
@ProfSteveKeen on Twitter
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If you thought you understood the urgency of climate change, our guest, Professor Steve Keen, will shatter those illusions. We’ll be straight with you, this is not an easy episode to hear – but you need to listen anyway. How can we deal with the effects of climate change if we don’t understand the urgency? Professor Keen won’t sugar coat it but he can back up every statement with facts, figures, and astute analysis.
Throughout the interview, he refers to – and debunks – the work of William Nordhaus, who won the Nobel Prize for Economics in 2018 “for integrating climate change into long-run macroeconomic analysis.”
From Left Foot Forward:
“When future generations ask why humanity delayed taking action against climate change for so long, Nordhaus’s model will be one of the prime suspects. The model, known as DICE – Dynamic Integrated model of Climate and the Economy – is a dangerous gamble for humanity’s future. Nordhaus’s transgressions are immense. His ‘damage function’ which he uses to estimate global warming damage is incorrect and uses data that has nothing to do with climate change. Despite this, the Intergovernmental Panel on Climate Change (IPCC) uses his model to advise governments about the economic impact of global warming.”
Nordhaus’s sins trace back to his attacks on 1972’s “Limits to Growth” study. The predecessors to our contemporary climate deniers dismissed its findings, yet it has been proven remarkably accurate. In this interview, Professor Keen compellingly compares facts to fancy. As his home country of Australia is ablaze, he explains why this was predictable. What you learn in this episode will enrage and probably depress you. We can’t afford to ignore it; ignorance is not an option.
Professor Keen is a Distinguished Research Fellow at UCL, the author of Debunking Economics (2011) and Can We Avoid Another Financial Crisis? (2017), and one of the few economists to anticipate the Global Financial Crisis of 2008, for which he received the Revere Award from the Real World Economics Review. His main research interests are developing the complex systems approach to macroeconomics and the economics of climate change.
@ProfSteveKeen on Twitter
Coming Soon
Episode 110 - Taming the Megabanks with Art Wilmarth
Episode 109 - Institutions with Linwood Tauheed
Episode 108 - Knowledge is Power with Rev. Delman Coates
Episode 107 - We Are Losing the Media War with Jordan Chariton
Episode 106 - Reform or Revolution with Danny Haiphong
Episode 105 - The Case for Scottish Independence with Kairin Van Sweeden
Episode 104 - Focus on the Family with June Carbone
Episode 103 - Anatomy of a Job Guarantee with Fadhel Kaboub
Episode 102 - The Global Scourge of Neoliberalism with Patricia Pino
Episode 101 - Beat Back Better: Organizing in 2021 with Emma Caterine
Episode 100 - Flying with Sara Nelson
Episode 99 - A Modern Debt Jubilee with Steve Keen
Episode 98 - Imminent Collapse with L. Randall Wray
Episode 97 - Solidarity with Joe Burns
Episode 96 - Treasury's Gift To The Fed with Robert Hockett
Episode 95 - The Land Value Tax with Joshua Vincent and Rich Nymoen
Episode 94 - Political Sobriety with Rohan Grey
Episode 93 - The Public Banking Act with Rohan Grey
Episode 92 - Propaganda and the Vortex of Centrism with Esha Krishnaswamy
Episode 91 - Crisis Management with Warren Mosler
Episode 90 - The MMT Sequence with Warren Mosler
Episode 89 - Juxtapositions with Bill Mitchell
Episode 88 - Debt Deflation and the Neofeudal Empire with Michael Hudson
Episode 87 - A Just Transition Through Participatory Governance with Cindy Banyai
Episode 86 - 2020 with Margaret Kimberley
Episode 85 - Shadow Banking with Robert Hockett
Episode 84 - African Sovereignty and a Global Green New Deal with Fadhel Kaboub
Episode 83 - Mutual Credit and the War on Cash with Brett Scott
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