In this episode of the Debunking Economics podcast, Phil Dobbie and Steve Keen explore the core of economic theory: the definition of value. They contrast the classical cost of production theory with the neoclassical focus on subjective utility, arguing that while neoclassical models often fail mathematical rigor, the cost-plus approach reflects how rea…
Share from 0:00
0:00
/
Paid episode
The full episode is only available to paid subscribers of Building a New Economics
Understanding the Value of Value
Steve and Phil discuss the difference between the classical approach to value and the neoclassical focus. Does it all, ultimately, get back to cost-plus?
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
