Steve and Phil critique our systemic over-reliance on Gross Domestic Product (GDP) as the definitive baseline for comparing global economies and measuring societal well-being. The discussion underscores a fundamental flaw in neoclassical modeling: while GDP measures raw industrial output, it completely fails to reflect actual public welfare due to stark…
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GDP is hopelesss as a relative measure
The Debunking Economics Podcast
Economist Steve Keen talks to Phil Dobbie about the failings of the neoclassical economics and how it reflects on society.ems-based alternative to mainstream economics
Economist Steve Keen talks to Phil Dobbie about the failings of the neoclassical economics and how it reflects on society.ems-based alternative to mainstream economicsAppears in episode
