Written by John Lounsbury
Steve Keen presented a keynote address at the International Conference on Thermodynamics 2.0 on 23 June 2020. The conference was sponsored by the International Association for the Integration of Science and Engineering. The title of his presentation: “Macroeconomics, Minsky, & fraud in Neoclassical climate change economics“.
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From https://www.iasted.org/:
The International Association of Science and Technology for Development (IASTED) is a non-profit organization devoted to promoting social, economic, and technical advancements around the world. Established in 1977, IASTED organizes multidisciplinary conferences for academics and professionals in the fields of science, engineering, medicine, management, and education.
From International Conference on Thermodynamics 2.0:
Thermodynamics 2.0 is a platform where the natural sciences meet the social sciences.
Thermodynamics is a universal science. Thermodynamics 2.0 is about bisociation of thermodynamics with other academic disciplines such as physics, chemistry, biology, sociology, economics and many more. Thermodynamics 2.0 builds on ideas of Ostwald and Helm, known also as energetics. The fable about energetics is brought through times in many forms by many progenitors. This fable can be traced back to Heraclitus: πάντα ῥεῖ (panta rhei) – Everything Flows. The language of Thermodynamics 2.0 is energy or its derivatives such as power and entropy which could be more fundamental than energy in time.
Thermodynamics 2.0 is about reshaping and raising the platform of human knowledge rather than building consensus on how do we connect the dots of human knowledge. It is about merging two cultures, not just bridging the gap. We plan to share coming generation new avenues thermodynamics has opened up in the 21st century. We count on the next generation to take thermodynamics to the next level. The forthcoming generation will always be better than the passing generation and also be equipped with the advantage of time-tested ideas.
From YouTube:
The conference organizers state that Thermodynamics 2.0 is about the “bisociation of thermodynamics with other academic disciplines such as physics, biology, sociology, economics… It is about merging two cultures, not just bridging the gap.”
I argue proper scientific methods should take economics over, not merge with what is currently there. I show that macroeconomics doesn’t need microeconomics, illustrate modeling both financial dynamics and pandemics using the Minsky system dynamics software, & expose the appallingly bad work of Neoclassical climate change economists.
— Steve Keen
Source: YouTube
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