I have a question for Dr. Keen. If the velocity of the US dollar is less than 2, and the average person using the currency is living paycheck to paycheck, spending all of their income every 2 weeks, wouldn't that mean that the volume of the money supply must be inordinately high to sustain the average citizen? This seems very puzzling to me, and I'd be curious to hear some discussion about that. Thank you.

I do recommend this episode: Robert C. Hockett joins this week as a special guest. Robert is an American lawyer, law professor, and policy advocate. He holds two positions at Cornell University (the Edward Cornell Professor of Law at Cornell Law School and a Professor of Public Affairs), is senior counsel at investment firm Westwood Capital, LLC, and was a Fellow at The Century Foundation think tank. As of 2019, he is advising Congresswoman Alexandria Ocasio-Cortez on the Green New Deal. https://www.youtube.com/live/nkYWHhf2Z-M?si=4ztw8yjyBDUuzr36 The questions are: how can we rig the economy so it enables all enterprises private and public to run green, and is that even possible? He definitley thinks we can rig the economy, but what about the ways and means? My take on this is that if you define technology as "The capability to meet human needs" rather than "clever machines" it is a resounding yes! Now, I am fascinated by the prospect of swapping out all fossil and land-degrading shit methods, and removing the shit social structures that are structurally violent and non-inclusive. Where are those alternatives? I'd love to discuss 1) Climate. Main drivers are the mobility needs. What do you replace that with? You need to think mobility, not car, as that is too narrow. For example, if you reduce demand for mobility, and then reduce need for individual solutions. Next human need is heating from electricity. 2) Water: Main drivers are drinking water and sewage. Breaks the planetary boundary for P and N by about 50% contribution. 3) Food and forestry: are nearly 80% responsible for breaking the planetary boundaries on land use. Can we feed ourselves and get fuel fiber and food from forests without breaking the boundary? BY the way the latest on the boundaries....https://globe.ku.dk/newslist/2023/six-of-nine-planetary-boundaries-now-exceeded/

I think the role of money needs closer examination in order to inform the design of a sustainable economy. In my grandmother's day it may have been sufficient to simply define money as a medium of exchange, with the government's role to stabilize its value. However we live in a very different world now, one in which we can no longer ignore our interdependence. We've evolved from a more self-sufficient agrarian society into a complex interdependent urban culture in which most of our work involves maintaining the infrastructure we all rely on. In earlier times when most of the goods we needed were made by individuals, money could simply be used as a tally for tracking our exchanges. However in our densely populated urban world money is the tool we use to orchestrate our collective efforts, and to provision folks with the space and resources to live. In an agrarian society the folks who thrived were those who were most attuned to the rhythms of nature, however in our modern world those who thrive are the ones most attuned to the rhythms of the market. Markets have become the social ecosystem that sustains our lives. While natural ecosystems have evolved over millennia with life as an emergent property, envisioning our social ecosystem is still gestating. If we consider money as a public utility that orchestrates our collective efforts, then we can recognize that how money is created and redeemed for reuse defines the culture of a society. I'm remembering a scene from the movie 'Why We Fight' in which a woman is working in a bomb making factory saying I'd rather be making toys for children, but this is the only job I could find. The economy is our social operating system. It defines how we share the​ common resources of this planet, how we value each other and our collaborative efforts, and ultimately it is a major factor shaping the goals of our society. Currently our social operating system is out of balance with natural ecosystems as well as the nurturing of what is best in our human nature.

ATTN Rebel Economists: Thank you for supporting me in my half-a-century fight for the truth against deluded mainstream economists. Feel free to help us win the fight sooner than later, by donating here: donate.profstevekeen.me Because Neoclassical economists are the gatekeepers for government funding for economic research, I never received a research grant during my 30-year academic career. That imbalance is, if anything, even worse today: Neoclassicals get the prestigious universities and the research funding, rebels like me are relegated to third-rate universities with zip funding. In this sense, the fight for truth in economics is a classic David vs. Goliath struggle. So we need your help in this fight against mainstream economic fantasists. If I could secure annual funding of $1 Million or more, I could establish a research centre that would enable myself and 6-8 other essential economic rebels--including several non-mainstream economists, one mathematician, and two computer programmers--to work together to develop the complete alternative paradigm we need to replace Neoclassical economics. I also hope that my Ravel© software--which you'll all receive in this course--will generate the millions a year needed for a juggernaut of a centre for realistic economics--The Keen Institute. This would allow me to hire not only the researchers I need, but also the support staff needed to get the word out. I've benefited enormously from linking up with Jordan and his Highest Paid Creator team (https://www.highestpaidcreator.com/home570623): I could never have reached as many people as are signing up to these lectures on my own. If Ravel is a commercial success, I could hire the sort of support team I need--marketing, media, etc.--as well as the 20 or so researchers who would be my dream team for building a realistic economics. So please donate your time to me as a user of Ravel, so that my development team can learn from user experience with the software and make it even more powerful and easy to use. And in the meantime, any penny that you afford to donate at donate.profstevekeen.me will help my Economic Debunkers team (because we're on a shoe-string budget as it is). Thank you to you all for your support

I highly recommend the Steve and Friends chatshow with one of the experts on the superorganism. It sort of explains what happened when humans went from basically tribes, to feudal arrangements to cities to global economy. It represents a challenge in modelling it for systems thinking economists, they talk a little of the maths involved and insights. https://www.youtube.com/live/Wopoc4csxFc?si=DDfIkBELG72fGvQY HOWEVER Having seen that one you have to watch the interview with Jordan Petersson. He speaks of how society can be literally taken over by predatory psychopaths who exploit the fact that most people are nice and kind and helpful. In fact, the nicer and kinder, the more of a potential victim you are and useful to the cause. https://youtu.be/6uNIfIe0wgE?si=5LjZEf9sBuSXpGer My take: The reason things don't work as most people think they should is because society is infected. Like all parasitised organisms, it is hard to shake them off. In the case of mankind we need to be hard, aggressive, determined and wary. We need to develop a culture that makes it hard for these psychopaths to get into the system. And a culture that once infected, has mechanisms for expulsion. Remember Hinton axiom #2: you can do good things with bad systems and bad things with good systems.