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Oybru Brungus
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Oybru Brungus retweetledi
Oybru Brungus retweetledi

Economics Has Lost Touch with Reality (Part 1) - Bob Murphy & Steve Keen, DemystifySci #384
Austrian economist Bob Murphy (@BobMurphyEcon) and Post-Keynesian economist Steve Keen (@ProfSteveKeen) debate the finer points of money creation and the involvement of fractional reserve banking.
They clash over whether bank loans require actual reserves, or if banks create money out of thin air via the radical "loans create deposits" thesis.
The debate exposes the core flaws of neoclassical economics, explains why existing economic theory failed to predict the 2008 financial crisis, and offers some clues about the paradigm shift that's required to actually fix the global financial system.
Timestamps:
00:00 Go!
00:07:00 Understanding Heterodox Economics
00:11:00 Austrian Economics vs. Neoclassical Approaches
00:15:00 The Concept of Equilibrium in Economics
00:19:00 Complexity Theory & Economic Modeling
00:20:12 Critique of Neoclassical Economics
00:22:43 Historical Context of Economic Predictions
00:25:03 Keynesian vs. Post-Keynesian Economics
00:30:12 Influence of Economists in Power Dynamics
00:36:40 Economic Models & Crisis Predictions
00:38:20 Economic Interests in Crises
00:39:56 The Religion of Economic Theories
00:44:49 Consequences of Economic Beliefs
00:50:10 The Oversight of Banks in Economic Models
00:54:32 Challenges of Economic Experimentation
00:56:13 Rival Schools of Economic Thought
00:57:00 Cycles in Economic Systems
01:00:01 Dynamics of Boom and Bust
01:02:15 Role of Interest Rates & Money Creation
01:05:32 Understanding Fractional Reserve Banking
01:11:28 Complexity of Banking & Reserves
01:15:03 Dynamics of Banking & Credit Management
01:17:50 Critique of Central Banking & the Role of Reserves
01:19:54 Reevaluating Economic Models & Banking
01:20:50 The Importance of Reserves in Financial Discussions
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Oybru Brungus retweetledi
Oybru Brungus retweetledi

the evolution of the four-wing strange attractor
AA@measure_plan
four strange attractors and their formulas
English
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Oybru Brungus retweetledi

playing with strange attractors : adjusting the constant b and see it goes through different bifurcation phases or become chaotic
Kat ⊷ the Poet Engineer@poetengineer__
strange attractors more experiments with pops in touchdesigner
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@jarvinart Many memories were had. Do some good crying and celebrate the companionship, it is not a silly thing.
English

@Vivek4real_ Wait for my boner to die down so I can take my morning wiz
English
Oybru Brungus retweetledi
Oybru Brungus retweetledi
Oybru Brungus retweetledi

@tonyskeor These are beautiful. Bless you for your command of the mood.
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