7d • General discussion
Hey everyone! 🚨
Steve dropped a video you absolutely need to see right now. 🔥
He nailed the 2008 crash warning years ahead. Now he’s exposing why a Strait of Hormuz shutdown could slash 10% of global energy and trigger a matching 10% GDP plunge.
Neoclassicals claim you can swap labor for oil. Pure delusion, as Steve proves with Ravel© models pitting Cobb-Douglas fantasy against Leontief reality. 📉
The breakdown covers:
🔹 How mainstream econ ignores energy entirely
🔹 Why a 10% energy drop hits output 1:1, no substitutions
🔹 Capital, labor, energy as fixed complements - lose one, lose it all
🔹 Real-world shocks proving post-Keynesians right the hard way.
Watch here and drop your thoughts. Steve checks the comments.
#StraitOfHormuz #EnergyCrisis #PostKeynesian
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Hey everyone! 🚨
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