Steve Keen's Publications

Steve Keen

Debunking Economics Website

s.keen@uws.edu.au

List of publications (as at October 1st 2006)

Refereed Papers

  1. (2006) (with Russell Standish, UNSW) “Profit Maximization, Industry Structure, and Competition: A critique of neoclassical theory”, Physica A 370: 81-85.
  2. (2006) (with Mauro Gallegatti, Universita' Politecnica delle Marche, Ancona, Thomas Lux , Department of Economics, University of Kiel & Paul Ormerod, Volterra Consulting, “Worrying Trends in Econophysics”, Physica A 370: 1-6.
  3. (2006) (with Brian Chapman, Monash University) “Hic Rhodus, Hic Salta! Profit in a dynamic model of the Monetary Circuit”, Storia del Pensiero Economico (forthcoming).
  4. (2006), (with Russell Standish, UNSW). “Irrationality in the neoclassical definition of rationality”, American Journal of Applied Sciences, Special Issue: 61-68.
  5. (2006). “Why economics textbooks must stop teaching the standard theory of the firm”, American Review of Political Economy (forthcoming).
  6. (2004) R.K. Standish and S. Keen, “Emergent Effective Collusion in an Economy of Perfectly Rational Competitors”, Stonier, et al. (eds.), Proceedings 7th Asia-Pacific Conference on Complex Systems, Cairns, arXiv:nlin.AO/0411006, (2004), 228
  7. (2004) Lee, F. S. and Keen, S. 2004. “The Incoherent Emperor: A Heterodox Critique of Neoclassical Microeconomic Theory” Review of Social Economy 62 2, pp. 169-199.
  8. (2004). “Deregulator: Judgment Day for Microeconomics”, Utilities Policy, 12: 109 –125.
  9. (2003) “Standing on the toes of pygmies: why econophysics must be careful of the economic foundations on which it builds”, Physica A 324: 108-116.
  10. (2002) “Economics: from emperor to vassal?”, Australian Universities Review, 44 (1/2): 15-17.
  11. (2000). “The nonlinear economics of debt deflation”, in Barnett, W., Chiarella, C., Keen, S., Marks, R., Schnabl, H., (eds.), Commerce, Complexity and Evolution, Cambridge University Press, 83-110.
  12. (1999). “The nonlinear dynamics of debt deflation”, Complexity International, Volume 6: http://journal-ci.csse.monash.edu.au/ci/vol06/keen/keen.html.
  13. (1999). “Analytical solution of a system dynamics model of cyclical office oversupply under simplifying assumptions”, appendix to “A systems dynamics model of cyclical office oversupply”, Max Kummerow (Department of Property Studies, Curtin University), Journal of Real Estate Research 18: 233-255.
  14. (1999). “The appropriateness of the term Iktisad/Economics: the Islamic perspective”, Accounting, Commerce and Finance: The Islamic Perspective, 3: 1-24 (with O.A. Zaid, then Department of Accounting, University of Western Sydney).
  15. (1998). “Answers (and questions) for Sraffians (and Kaleckians)”, Review of Political Economy, Vol. 10, No. 1, 73-87. (1997). “From prohibition to depression: the Western attitude to usury”, Accounting, Commerce and Finance: the Islamic Perspective, Vol. 1 No.1, 26-55.
  16. (1997). “From stochastics to complexity in models of economic instability”, Nonlinear Dynamics, Psychology and Life Sciences, Vol. 1, No. 2, 151-172.
  17. (1996). “The chaos of finance”, Economies et Societes, Vol. 30, special issue Monnaie et Production No. 10, 55-82.
  18. (1995). “Finance and economic breakdown: modelling Minsky’s Financial Instability Hypothesis”, Journal of Post Keynesian Economics, Vol. 17, No. 4, 607-635.
  19. (1993). “The misinterpretation of Marx's theory of value”, Journal of the History of Economic Thought, 15 (2), Fall, 282-300.
  20. (1993). “Use-value, exchange-value, and the demise of Marx’s labor theory of value”, Journal of the History of Economic Thought, 15 (1), Spring, 107-121.

Edited Books

  1. (2000). Barnett, W., Chiarella, C., Keen, S., Marks, R., Schnabl, H., (eds.), Commerce, Complexity and Evolution, Cambridge University Press, New York.

Books

  1. (2006) (with Yanli Ho). Debunking Economics Chinese Edition, China Economic Publishing House, Beijing. (forthcoming)
  2. (2001). Debunking Economics: the naked emperor of the social sciences, Pluto Press & Zed Books, Sydney & London.

Chapters in books

  1. (2006), “The need and some methods for dynamic modelling in Post Keynesian economics”, in Setterfield, M. (ed.), Complexity, Endogenous Money and Macroeconomic Theory: Essays in Honour of Basil J. Moore, Edward Elgar, Aldershot, pp. 36-59. http://www.e-elgar.co.uk/Bookentry_Main.lasso?id=3552
  2. (2004). “Why economics must abandon its theory of the firm”, in Salzano, M., & Kirman, A. (eds.), Economics: Complex Windows, Springer, New York, pp. 65-88.
  3. (2004). “Improbable, Incorrect or Impossible: The persuasive but flawed mathematics of microeconomics”, in Fullbrook, E. (ed.), Student's Guide to What's Wrong with Economics, Routledge, London, pp. 209-222.
  4. (2003). “Economists Have No Ears”, in Fullbrook, E. (ed.), The Crisis in Economics, Routledge, London (Chapter 17).
  5. (2003). “The Russian Defeat of Economic Orthodoxy”, in Fullbrook, E. (ed.), The Crisis in Economics, Routledge, London (Chapter 46).
  6. (2003). “Nudge nudge, wink wink, Say No More”, in Kates, S. (ed.), Two Hundred Years of Say's Law, Edward Elgar, Aldershot: 199-209.
  7. (2003). “The mad method of economics”, in Argyrous, G. & Stilwell, S., Economics as a Social Science - New edition: Readings in Political Economy, Pluto Press, Leichhardt: 140-145.
  8. (2001). Commentary on De Louca, “Measuring complexity”, in Foster, J., (ed.), Frontiers of Evolutionary Economics, Edward Elgar, Aldershot: 307-313.
  9. (2001). “Minsky’s thesis: Keynesian or Marxian?” in Bellofiori, R., & Ferri, P., (eds.), Financial Keynesianism and Market Instability, Edward Elgar, Aldershot, 106-120.
  10. (1998). “The never-ending cycle”, in Dow, G., (ed.), Everlasting uncertainty: The Communist Manifesto 1848-1998, Pluto Press, Sydney.
  11. (1995). “Comment on Fel’dman’s structural model of economic growth” in Groenewegen, P. and McFarlane, B., (eds.), Socialist Thought in the Post Cold War Era, Journal of Contemporary Asia Publishers, Manila, 39-47.

Refereed encyclopaedia entries

  1. (2006). “The Financial Instability Hypothesis”, in William A. Darity, (ed.), The International Encyclopedia of the Social Sciences, 2nd edition, Macmillan Reference, New York (forthcoming).
  2. (2003). “Post Keynesian growth theory”, in King, J.K., (ed.), Post Keynesian Economics, Edward Elgar, Aldershot.
  3. (1998). “Goodwin predator-prey model”, O'Hara, P. (ed.), Encyclopaedic Dictionary of Political Economy, Routledge, pp. 433-435.
  4. (1998). “Minsky's Financial Instability Hypothesis”, O'Hara, P. (ed.), Encyclopaedic Dictionary of Political Economy, Routledge, pp. 373-376.
  5. (1998). “Use-value”, O'Hara, P. (ed.), Encyclopaedic Dictionary of Political Economy, Routledge, pp. 1176-1178.

Academic reviews/comments

  1. (2004) Review of Bauman, Y., Quantum Microeconomics http://www.smallparty.org/yoram/quantum, Journal of Economic Education
  2. (2002). “Debunking efficient markets?”. Commentary on Sornette, D. and Zhou, W.X., “The US 2000-2002 Market Descent: How Much Longer and Deeper?”, Quantitative Finance, 2: 406-407.
  3. (2002). Review of Edwards, L., (2002), How to Argue with an Economist: Re-opening Political Debate in Australia, Cambridge University Press, Melbourne, in the Australian Journal of International Affairs 57 No. 2 (forthcoming).
  4. (2002). Review of Smith, J.W., Lyons, G., & Sauer-Thompson, G., (1999), The Bankruptcy of Economics: Ecology, Economics and the Sustainability of the Earth, Macmillan, Houndmills, in Economic Analysis and Policy, 32: 277-280.
  5. (2002). Review of Chiarella, C. and Flaschel, P., (2000), The Dynamics of Keynesian Monetary Growth, Cambridge University Press, Cambridge, in Journal of Economic Behavior and Organization, 47: 466-468.
  6. (2000). Review of Besomi, D., (1999), The Making of Harrod's Dynamics, St Martin's Press, New York, in History of Economics Society, http://www.eh.net/BookReview/reviews/0238.shtml.
  7. (2000). Review of Besomi, D., (1999) The Making of Harrod's Dynamics, St Martin's Press, New York, in History of Economics Review, No. 21 Winter 2000, 91-95.

Newspaper articles, radio interviews and other media

  1. (2006) Numerous interviews on the RBA decision to increase interest rates in August 2006, commenting on the explosion of mortgage debt in Australia. ABC TV News, ABC Radio News, Sky News, Channel 7 Midday News, Channel 7 Evening News, ABC Statewide Drive, and about 70 newspaper and radio syndicated articles.
  2. (2006) Nature feature (July 8th 2006) by Phillip Ball on co-authored paper “Worrying Trends in Econophysics”.
  3. (2006) Numerous interviews on RBA interest rate setting May 2006 and Federal Budget 2006: ABC News, The World Today, John Laws on 2UE, Sky News Business Report, ABC Countrywide, 6PR Perth
  4. (2004) Discussion of 2004 Budget on Nightlife with Tony Delroy, May 11.
  5. (2003). Review of Michael Pusey’s The Experience of Middle Australia: the dark side of economic reform, ABC Radio National Booktalk May 3rd.
  6. (2003) “Taking On ‘Rational Man’: Dissident economists fight for a niche in the discipline”, By Peter Monaghan, The Chronicle of Higher Education http://chronicle.com/free/v49/i20/20a01201.htm
  7. (2002) Review of Joseph Stiglitz’s Globalization and its discontents, ABC Radio National Book Talk, September 28.
  8. (2002) “What is worth keeping in standard microeconomics?: Two perspectives to Guerrien’s question”, PAECON Newsletter (http://www.btinternet.com/~pae_news/join.htm) No. 14, 24 June.
  9. (2001) “The Russian defeat of economic orthodoxy”, PAECON Newsletter No. 10, December 10.
  10. (2001). “Textbook examples fail scientific test”, The Guardian, December 3: http://www.guardian.co.uk/business/story/0,3604,610812,00.html
  11. (2001). “Economists Have No Ears”, PAECON Newsletter No. 7, July 10.
  12. (2001). “Understanding economics...”, Discussion of Hugh Stretton’s Economics: A new introduction with Jill Kitson on ABC Radio National Book Talk, September 1.
  13. (2001). Interview on BBC Radio 4 Talking Politics with Sheena Macdonald on economic policy and the UK election, May 26.
  14. (2001). “Economics'r'us”, Sydney Morning Herald Spectrum Magazine, May 26.
  15. (2001). Campus Review (interview and feature on Debunking Economics), May 23.
  16. (2001). ABC Nightlife (Tony Delroy, broadcast nationally; interview on Debunking Economics), May 1st.
  17. (2001). 2JJJ Morning Show (on the history and function of the stockmarket, prior to M1 protests), April 30/May 1.
  18. (2001). 2SER Media Report (on the history and function of the stockmarket, prior to M1 protests), April 30/May 1.
  19. (2001). ABC Sydney Drive Program (Richard Glover, interview on Debunking Economics), April 27.
  20. (2001). ABC Melbourne Drive Program (Virginia Trioli, interview on Debunking Economics), April 17.
  21. (2001). 2BL Afternoon Show (James Valentine, on the recession, debating with Dr. Dave Clark). April 2.
  22. (2001). Round-table discussion on Radio National Life Matters (hosted by Julie McCrossin, with Jocelyn Pixley and Nick Gruen on the emotional import of the falling Aussie dollar), March 23.
  23. (2001). 2JJJ Morning Show (on the Australian dollar), March 16.
  24. (2001). 2BL Afternoon Show (on the US credit bubble and the Australian dollar, with Doug Noland, Prudent Bear Mutual Fund) March 15.
  25. (2001). 2JJJ Morning Show (on the recession), March 13.
  26. (2001).”Why Economics can't avoid a revolution”, The Age, Monday February 26. Critique of William Coleman's attack on critics of economic rationalism.
  27. (2000). “Dinkum blokes get nowhere being charming”, The Australian, 6/10/2000. A feature on antipodean sexual politics, in response to a column by Shelley Gare.
  28. (1999). “Safety ‘net goes bust”, The Australian (special Millenium supplement), 20-21/11/1999. Prediction that the Internet boom on the US stock market will collapse.
  29. (1999)."A history lesson for mums and dads", The Sydney Morning Herald feature, 27/7/1999. Commentary on the impact of sharp stock market falls on small, first-time investors.
  30. (1998). Interview on Radio National Late Night Live with James Galbraith and Peter Hartcher, on the Asian crisis and Wall Street instability of 1998.
  31. (1998). Interview on Radio National Late Night Live with Phillip Mirowski, on “voodoo economics”.
  32. (1998). “1998: The 1930s revisited?”, Ecodate, 12:1 March 1998: 1-4. (Ecodate is a quarterly publication distributed to High School Economics teachers in Australia).
  33. (1997). "A Crash course in Global Warnings", The Australian, Wednesday October 29 (commentary on the inevitability of stock market crashes and the impact of debt accumulation on the physical economy).
  34. (1984-1991). Numerous articles (1 to 2 per month over eight years) evaluating computer software for the magazines Australian Computing and Your Computer.

Created on ... September 30, 2006