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The Peter McCormack Show

#134 - Steve Keen - How Modern Economics Became Ideology

By Peter McCormack

Aired Dec 9, 2025 · 2h 29m · Last boosted Dec 14, 2025

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Show Notes

Modern economics is built on competing theories that often describe the world in very different ways. In this conversation, economist Steve Keen sets out his explanation for how money works, why he believes mainstream economic models fail, and why debt, banking and housing play a far greater role in economic crises than most policymakers acknowledge. Keen's perspective challenges the assumptions of neoclassical, Keynesian and Austrian economists alike. In this episode we discuss: – How economics became political ideology – Why neoclassical theory broke the West – The Left vs Right illusion in economic policy – What money really is (and how...

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1.3k
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literaryjoeMar 31, 2025
135
Debian first, please ☺️
literaryjoeMar 31, 2025
135
Love the message but wen Linux and Windows?
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Nostr Boosts:10k
shawnSep 11, 2024
10k
You are appreciated, friend. 🫂
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Nostr Boosts:5k
shawnSep 19, 2024
5k
If you’re experiencing low blood pressure, give this @npub1sk7mtp67z… episode a listen.
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shawnSep 6, 2024
5k
Power to the purple. ✊🏼
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shawnAug 28, 2024
5k
LFG #nostronly
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Nostr Boosts:2.1k
shawnMar 19, 2025
2.1k
tldr: Bullish.
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Nostr Boosts:2.1k
shawnFeb 27, 2025
2.1k
Great rip. Side note: Ian needs a NIP-05.
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Nostr Boosts:2.1k
shawnFeb 8, 2025
2.1k
The most bullish conversation I’ve heard in a long while.
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Nostr Boosts:2.1k
shawnJan 24, 2025
2.1k
In the battle of my 1.75x default listening speed versus @npub1hk0tv47zt…, Erik emerges victorious. Mind-bending rip.
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Nostr Boosts:2.1k
shawnJan 20, 2025
2.1k
I’ve been “guilty“ of reiterating the superior utility of stablecoins for the un- and under-banked over Bitcoin and Lightning (because, for now, it’s true), but this conversation reinforces why that’s still no excuse for aiding and abetting their spread. Thanks, @npub16le69k9hw… and Mark Goodwin, for this reminder.
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Nostr Boosts:2.1k
shawnJan 8, 2025
2.1k
Our man, @npub160t5zfxal…, spreading the good word about nostr on X spaces. 💪🏻
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Nostr Boosts:2.1k
shawnDec 6, 2024
2.1k
I learned a lot. Great rip.
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Nostr Boosts:1k
shawnJan 13, 2026
1k
Hell of a conversation, but about halfway in, I ran out of tinfoil. Simon is either Nostradamus or had a big laugh after recording stopped.
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Nostr Boosts:1k
shawnNov 12, 2025
1k
If you love computers, this will delight you. And even if you don't, there are great lessons for builders here.
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Nostr Boosts:1k
shawnSep 9, 2025
1k
This is a must-listen conversation if you're tracking the state of privacy and surveillance.
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Nostr Boosts:1k
shawnAug 6, 2025
1k
Great conversation.
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Nostr Boosts:1k
shawnJul 29, 2025
1k
We need more of this old school New Yorker energy.
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Nostr Boosts:1k
shawnJul 3, 2025
1k
Unapologetically, uncompromisingly bullish. Put it in my veins. Bravo, @npub1hk0tv47zt…, @npub1tr7ndmjkg…, @npub16le69k9hw….
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Nostr Boosts:1k
shawnFeb 28, 2025
1k
Who do you trust?
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shawnJan 15, 2025
1k
Great conversation, @npub16le69k9hw… and @npub1k7vkcxp7q….
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Nostr Boosts:1k
shawnSep 26, 2024
1k
Fascinating conversation. Thanks, @npub1h8nk2346q… and @npub155smppdaq….
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Nostr Boosts:500
shawnSep 25, 2024
500
Thank you, @npub1guh5grefa… and @npub1uyz4w2w4r…, for this conversation. I gleefully look forward to the blowback against the unproductive class. May it be glorious.
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Untitled episode
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shawnAug 18, 2024
500
Bullish on Proton.
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Untitled episode
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Nostr Boosts:500
shawnAug 8, 2024
500
This morning’s listen. 👌🏻
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Nostr Boosts:135
literaryjoeMar 30, 2026
135
This episode is loaded with insights!
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Nostr Boosts:135
literaryjoeSep 29, 2025
135
An excellent rip! Samson is a civilized voice of reason in the midst of lots of emotion.
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Nostr Boosts:135
literaryjoeJun 20, 2025
135
This was incredibly annoying to listen to. Sometimes one has to build a case and Alex kept objecting before he even heard the case! I’m not going to opine on who was right or who won because the debate never happened, and it’s not occurring was entirely on Alex. Alex cannot (or will not) see anything other than the immediate benefit of Lighting to those he is passionate about helping. Paul was attempting to say, “I grant you that, but don’t you want to help everyone, and help them for the long haul?” One cannot adequately nor fairly refute a dialogue partner till one actually understands their view in a sympathetic manner. The one thing clear from this is that Paul understood what Alex was saying but Alex never took the time to understand Paul. 😢 frustrating and almost impossible to listen to because Alex wouldn’t let Paul speak.
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Nostr Boosts:135
literaryjoeApr 17, 2025
135
Great rip; super appreciated this!
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Nostr Boosts:135
literaryjoeApr 2, 2025
135
Loved this one!
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Nostr Boosts:135
literaryjoeMar 18, 2025
135
Excellent episode; pure signal
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Nostr Community

Everyone who has boosted #134 - Steve Keen - How Modern Economics Became Ideology on Nostr, ranked by sats sent, all time.

  1. Shawn 1k sats
  2. Nate Long 270 sats

Episode Boosts

Every boost sent to this episode, as published to Nostr, newest first.

  • 1,021 via Fountain
    Props to @npub14mcddvsjs… for handling this with grace and aplomb. Steven is clearly intelligent, but his argument seems to net out to this: Bitcoin is unworkable because it would destroy our meticulously designed Rube Goldberg machine. Yes. Exactly.
  • 135 via Fountain
    Evidently, post-Keynesian’s are delusional.
  • 135 via Fountain
    It is so strange to hear someone say, “this can only be resolved by an appeal to history,” meanwhile history itself refutes his argument. SMH