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#303 – Steve Keen: Marxism, Capitalism, and Economics

Lex Fridman Podcast

Conversations that explore technology, history, philosophy, physics, mathematics, biology, chemistry, engineering, AI, robotics, programming, music, film, art, sports, psychology, neuroscience, geopolitics, business, economics, religion, astronomy, and the human condition with people from all walks of life.

Steve Keen is a heterodox economist and author. Please support this podcast by checking out our sponsors:
- Weights & Biases: https://lexfridman.com/wnb
- Skiff: https://skiff.org/lex
- Indeed: https://indeed.com/lex to get $75 credit
- NetSuite: http://netsuite.com/lex to get free product tour
- InsideTracker: https://insidetracker.com/lex to get 20% off

EPISODE LINKS:
Steve's Twitter: https://twitter.com/profstevekeen
The New Economics (book): https://amzn.to/3zb4eg4

PODCAST INFO:
Podcast website: https://lexfridman.com/podcast
Apple Podcasts: https://apple.co/2lwqZIr
Spotify: https://spoti.fi/2nEwCF8
RSS: https://lexfridman.com/feed/podcast/
YouTube Full Episodes: https://youtube.com/lexfridman
YouTube Clips: https://youtube.com/lexclips

SUPPORT & CONNECT:
- Check out the sponsors above, it's the best way to support this podcast
- Support on Patreon: https://www.patreon.com/lexfridman
- Twitter: https://twitter.com/lexfridman
- Instagram: https://www.instagram.com/lexfridman
- LinkedIn: https://www.linkedin.com/in/lexfridman
- Facebook: https://www.facebook.com/lexfridman
- Medium: https://medium.com/@lexfridman

OUTLINE:
Here's the timestamps for the episode. On some podcast players you should be able to click the timestamp to jump to that time.
(00:00) - Introduction
(07:26) - Defining economics
(14:26) - Schools of economics
(38:45) - Karl Marx
(57:00) - Labor theory of value
(1:16:45) - Socialism
(1:31:48) - Soviet Union
(1:45:08) - China
(2:05:00) - Climate change
(2:27:03) - Economics vs Politics
(2:35:06) - Minsky's model
(2:49:50) - Financial crisis
(2:55:07) - Inflation
(3:08:21) - Marxism
(3:15:42) - Space and AI
(3:21:47) - Advice for young people
(3:25:38) - Depression
(3:30:10) - Love
(3:34:11) - Mortality

Steve Keen is a heterodox economist and author. Please support this podcast by checking out our sponsors: 
– Weights & Biases: <a href="https://lexfridman.com/wnb">https://lexfridman.com/wnb</a> 
– Skiff: <a href="https://skiff.org/lex">https://skiff.org/lex</a> 
– Indeed: <a href="https://indeed.com/lex">https://indeed.com/lex</a> to get $75 credit 
– NetSuite: <a href="http://netsuite.com/lex">http://netsuite.com/lex</a> to get free product tour 
– InsideTracker: <a href="https://insidetracker.com/lex">https://insidetracker.com/lex</a> to get 20% off
EPISODE LINKS: 
Steve’s Twitter: <a href="https://twitter.com/profstevekeen">https://twitter.com/profstevekeen</a> 
The New Economics (book): <a href="https://amzn.to/3zb4eg4">https://amzn.to/3zb4eg4</a>
PODCAST INFO: 
Podcast website: <a href="https://lexfridman.com/podcast">https://lexfridman.com/podcast</a> 
Apple Podcasts: <a href="https://apple.co/2lwqZIr">https://apple.co/2lwqZIr</a> 
Spotify: <a href="https://spoti.fi/2nEwCF8">https://spoti.fi/2nEwCF8</a> 
RSS: <a href="https://lexfridman.com/feed/podcast/">https://lexfridman.com/feed/podcast/</a> 
YouTube Full Episodes: <a href="https://youtube.com/lexfridman">https://youtube.com/lexfridman</a> 
YouTube Clips: <a href="https://youtube.com/lexclips">https://youtube.com/lexclips</a>
SUPPORT & CONNECT: 
– Check out the sponsors above, it’s the best way to support this podcast 
– Support on Patreon: <a href="https://www.patreon.com/lexfridman">https://www.patreon.com/lexfridman</a> 
– Twitter: <a href="https://twitter.com/lexfridman">https://twitter.com/lexfridman</a> 
– Instagram: <a href="https://www.instagram.com/lexfridman">https://www.instagram.com/lexfridman</a> 
– LinkedIn: <a href="https://www.linkedin.com/in/lexfridman">https://www.linkedin.com/in/lexfridman</a> 
– Facebook: <a href="https://www.facebook.com/lexfridman">https://www.facebook.com/lexfridman</a> 
– Medium: <a href="https://medium.com/@lexfridman">https://medium.com/@lexfridman</a>
OUTLINE: 
Here’s the timestamps for the episode. On some podcast players you should be able to click the timestamp to jump to that time. 
(00:00) – Introduction 
(07:26) – Defining economics 
(14:26) – Schools of economics 
(38:45) – Karl Marx 
(57:00) – Labor theory of value 
(1:16:45) – Socialism 
(1:31:48) – Soviet Union 
(1:45:08) – China 
(2:05:00) – Climate change 
(2:27:03) – Economics vs Politics 
(2:35:06) – Minsky’s model 
(2:49:50) – Financial crisis 
(2:55:07) – Inflation 
(3:08:21) – Marxism 
(3:15:42) – Space and AI 
(3:21:47) – Advice for young people 
(3:25:38) – Depression 
(3:30:10) – Love 
(3:34:11) – Mortality

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#303 – Steve Keen: Marxism, Capitalism, and Economics

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