Several Neoclassical economists have recently derided heterodox economics, and touted the importance of equilibrium modelling in economics. This video shows that equilibrium modelling is utterly misleading about the nature of capitalism.
They also assert that macroeconomics must be derived from microeconomics. I show that macroeconomics can in fact be derived directly from macroeconomic definitions, and that the models which result are not Neoclassical, but are Post-Keynesian in nature.
Please watch and share widely.
Again, very clear. Liking the style of these new videos which cut through. Really looking for the follow up on how central bank overdrafts are managed through govt bonds, and why this is a choice. I've shared your video and this is the content others are curious to see too. Thanks Steve. Keep it up.