15 Facts About Steve Keen

Steve Keen was born on 28 March 1953 and is an Australian economist and author.

Steve Keen considers himself a post-Keynesian, criticising neoclassical economics as inconsistent, unscientific, and empirically unsupported.

Steve Keen graduated with a Bachelor of Arts in 1974 and a Bachelor of Laws in 1976, both from the University of Sydney.

Steve Keen then completed a Diploma of Education at the Sydney Teachers College in 1977.

Steve Keen completed his PhD in economics at the University of New South Wales in 1997.

Steve Keen argues they show neoclassical assumptions which are fundamentally flawed.

Steve Keen argues economists' overall conclusions are very sensitive to small changes in these assumptions.

Steve Keen has attempted to counter Karl Marx's theory from a post-Keynesian perspective, by arguing machines can add more product-value over their operational lifetime than the total value of depreciation charged "during those asset lives".

Steve Keen argues all factors of production can add new value to outputs.

Steve Keen has challenged the core, elementary textbook neoclassical theories of Perfect competition and Monopoly, and in particular the argument that firms in "perfect competition" and monopolies are usefully thought of as representing polar opposites.

Steve Keen goes on to explore various scenarios by which multiple firms might arrive at an "equilibrium" market price and level of output.

Steve Keen argues that regressions of the GSP of states in the US to average temperature are flawed as the states have similar per capita income, that other factors are more important to GSP rather than average temperature, and that assuming the weak correlation found would continue to hold true with further global warming is begging the question.

Steve Keen ran as a senate candidate for The New Liberals in New South Wales during the 2022 Australian federal election.

Steve Keen was in favour of the UK leaving the European Union, stating mainstream economists were over-certain and exaggerating the likely effects following the country's withdrawal.

Steve Keen envisages it being used for both educational and research purposes.