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Rebel Economist (Free)

1.4k members • Free

20 contributions to Rebel Economist (Free)
Tell us your hurdles with Ravel so we can create help files!
I know I am not the only one that found a steep curve into Ravel. It is because in my case I am learning economics, Systems dynamics, maths and the program all at once. We could, together, produce an online manual and video demonstration that would help spread Ravel into schools and universities and the homes of home_hackers. To this end I created this survey to capture your experiences with hurdles. When enough have completed this we can start finding ways t help us all from the paddling pool into the big boys' and girls, pool. Eventually the deep end who knows. Please, especially if you have struggled, fill in this survey https://app.harmonica.chat/chat?s=64237d96-07fd-4ad4-a28f-1efffb2a4964
1 like • 13d
Hi Stephen. I was about to fill in your survey and thought I should ask. I agree wholly with the process and value your dedicated interpretative effort across years. Is the research for your own review first and foremost. I have creative Purpose that aligns and perhaps offers an energetic extension to your interpretive ideas here and I would like to explore as a known and measured non-specialist but, nevertheless a supporter follower of the effort. I should say that I have been deep in several actions over the past 5 years of Societal value and have been distracted in the extreme and unable to do justice to Steve and the group's effort but I am getting somewhere now I think having cracked through 4 nutty perennials in the past few weeks. The greatest of those and my 5th is of course this debunking an economics; a flavour that whilst it continues to enjoy Nobel recognition, will be brought to heal with creative applications of Steve's modelling in this wholly undisciplined discipline.
Hey Rebels! 🔥
Professor Keen just dropped an absolute BANGER that's going to make every mainstream economist cry. This one's called "Why Economists Deserve a Mark Twain Award for Confident Falsehoods" and it's absolutely mind blowing. Here's what he tears apart: ✅ Ben Bernanke's catastrophic prediction 3 weeks before the 2007 crisis ✅ The accounting errors that violate basic double-entry bookkeeping ✅ Why economists ignored 170 YEARS of debt data ✅ How the loanable funds model crashes and burns when you apply real accounting If you've ever wondered why economists keep getting everything wrong, this is the video that explains it all 👇 https://www.youtube.com/watch?v=AeL3YlJHi6w&views Drop a comment on YouTube if this blows your mind. 🧠💥 And as always—share this with anyone who still thinks mainstream economics makes sense. Time to wake people up! 🚨 #RebelEconomics #SteveKeen #DebtDeflation #MonetaryTheory
1 like • Dec '25
I will, I will, Nicole and crew. I've been quiet for a while. Things are bubbling along well; no fenestrations, but they tend to be messy and I imagine, our gathering Rebels... the SK Movement, will accept its better, certainly in marketing terms to 'turn a Bernanke' or any other 'positioned' individual and to have them accept their errors than have them end it. A curious proposition from Grandad Bill... an AI appraisal on the current state of Economics/ the baby and the bathwater? Interestingly, with all the valuable skepticism for AI, and hoping for a simple, well interpreted answer, the other month I asked Google's AI feature... "Where does new Money come". I've just checked again now and I'm pleased to report that it still gives the clear and non-neoclassical answer. I will try a question on Double Entry I thought it must understand well what is the neoclassical doctrine. So I asked... "Explain the three most significant errors made by neoclassical economists on how our Economy works". Maybe I should have been more ambitious and asked for the 100 most significant errors. Anyway, before it alters in some weird metaphysical way forever, I would suggest Steve @ProfSteveKeen to have a few team members, more gifted on Economic scrutiny than myself to document and time stamp a question and answers series both for posterity and the security of our future world. Or if you must, give me the questions and I will compile them for when they may come in handy.
1 like • Dec '25
many thanks Nicole. I would appreciate you asking Steve. Curiously, the bookkeeping specific question I intended to try on Google AI... The 8 entry may have been a bite too far but I tried it anyway... Q. Explain 8 entry bookkeeping mechanism necessary to account for commercial banks originated money". The answer in short is and in context, intriguing? ...."When a commercial bank makes a loan to a customer: - The bank's Assets increase, specifically an account titled "Loans" or "Loan Receivable", representing the money owed to the bank. This is recorded as a debit to the loan account. - Simultaneously, the bank's Liabilities increase, as it creates a new "Deposit" in the borrower's current account. The deposit is a liability for the bank because it is money the bank owes to its customer. This is recorded as a credit to the customer's deposit account.  These two entries (a debit to assets and a credit to liabilities) are sufficient to create new money and keep the bank's accounts balanced according to the accounting equation (Assets = Liabilities + Equity)." Any AI nuance might be useful as leverage for 'unravelling' embedded errors and paradox as well as exploiting those moments where as a News item headlines eg "AI proves to have a greater and more creative grip on our Economics than the our led by the nose Policy makers at the Treasury... but still they don't listen." AI nuance may also offer a handle for greater interpretation for those of us that find the topic confounding at times and require patience?
Third World Internet
My apologies about the abrupt failure of tonight’s lecture everyone. As I’m sure you guessed, it was because of an abrupt failure of the internet at my friend’s house here in London. I couldn’t get it to reconnect, and even my iPhone’s Vodafone wouldn’t work! This country is saving its future by bankrupting its present. The internet system in my home town of Amsterdam is far superior. But I’m stuck here for 3 more weeks so as to not breach the Schengen visa waiver rules. I’ll see if I can use Carbon Tracker’s office next week, where this sort of thing won’t happen. I hope.
1 like • Aug '24
Yes many thanks Steve for that first 30 minutes or so; that section I have heard you give previously and, as a country boy, I value it every time. @Nelson Guedes ahh so it was the name Picketty I heard during the downtime... I will check this out. Curiously, that UK case Study... rentier plus... I'm fast realizing that I'm being slowly consumed by some great avaricious beast simply because I exist in UK. For example, in UK, I insure myself to drive an old car at great expense but... in Europe I insure a different old car at a fraction of the cost... for everyone to drive ie in Europe they insure the car and not the driver. Elsewhere, I have a long term dispute with my Water company who refuse to give me a meter and charge me for imaginary liters of service never consumed/delivered; or why is it more affordable (and dangerous and unpredictable) to drive alone by car to London than to go by train... then my Energy Company is guaranteed to peck away at what's left! Some things are too precious to be in the hands of halfwits. As an aside on corporations get away with things... recently I found that the Insurance generally needs a good looking at. I was stunned to find that the Financial ombudsman (edit below) responsible for Banking oversight etc is also responsible for our vast Insurance Industry. How is proper scrutiny possible? Scrutiny is an art they all practice in their sleep! Edit... The FCA (Financial Conduct Authority) I think is the more valid term for the scrutiny body and not "ombudsman".... regardless, I find there are unexpected voids in FCA scrutiny that give perfect form to their sleeping patterns.
Concluding thoughts about the book ‘Alice™’
Having finished reading it, I’ll try not to give spoilers because I think it’s such a worthwhile read. But I can’t help making some observations, to give a kind of warning. In my initial comments on the book at - https://www.skool.com/debunking-economics-7964/initial-reaction-to-stuart-kells-alice-book?p=6539c01e I described its author Kells as something of a modern-day Diarist. That likely seemed negative, and I meant it to be so. On encountering the book I doubted the author’s provenance to be able write with precision about intricate details of the distinctly non-obvious world of high finance, since Kells was and is a complete outsider to that world. Yet in the second half of the book, onwards from Section 4 ‘The Invention’ almost to the end, the skills and outlook of a meticulously detail-obsessed diarist are exactly what I think are needed, to tell the complete and full story with all its broad and profound implications. A specialist would likely have too narrow a grasp to properly encompass the whole. And Kells has - as is obvious from his extensive 'Acknowledgments' - something of an army of specialists at his side. Second 4 shows just how many parties and how many different sorts of skills lay behind the Alice project, while Sections 5 and 6 describe the tangles of the complicated and evolving context of the project, financially, politically and socially. My warning is about the concluding part of Section 6, called ‘Don’t look back’, where diarist-Kells doesn’t flinch at making disappointment, pain and tragedy leap off the page. So I’d say the book’s message to activists is that the game really is rigged - even the supposedly neutral and objective law isn’t necessarily unbiassed. Yet the story the book tells doesn’t really end there - and it might well continue to have ‘legs’ into the unforeseeable future. In the last full Chapter, ‘Today and Tomorrow’ Kells turns philosophic, writing more like a pragmatic systems-analyst than any kind of Diarist. He explains why he thinks the decisions that led to the outcome of his story are a mis-step, with broad and serious consequences. I think he implies that hope for the future requires amending those decisions, however impossibly-hard a task that might seem today.
0 likes • Jul '24
@Alwyn Lewis Thanks Alwyn and all for the critique on reading materials. Inspired (I think) to read Alice but... but, curiosity drives the innocent... how on earth does someone write 304 pages on this practice they call Double Entry Book keeping... how is that possible? So, first principles, that will do me first. I like this term 'capture'... as in a 'behavioural lens'; the fugitive and discrete purposes and Policy are captured... made visible by subsequent actions. Does it not also, in a way, explain the essence, the energy and the unique selling proposition of Steve's Minsky and Ravel... tools that it render policy options visible... as they interpret and capture the range of future outcomes in advance for considered adjustment... only to betray... to capture true policy intent/ error/ benefit? "captured both politics and law"... have we not also seen that with water for example here in the UK? Prompted by this @PrivateEyeNews post on twitter attached image... Filthy water and pathetic investment in our 'liquid gold' played a role in our last elections and has tested and captured the condition of our laws and our regulations and associated Policies; fit for a purpose yes, but not for the one we expect but for that the Industry intends... profit.
The economics of heating by heat pump
There's a detailed article about that question, at - https://www.theguardian.com/business/article/2024/may/13/are-heat-pumps-more-expensive-to-run-than-gas-boilers The short answer is 'It depends". But get those dependencies right and the cost benefits can be large, quite apart from saving planetary eco-systems and defending the future of humanity. Sadly (but maybe to stay focussed on one topic) the article doersn't talk of other rather important issues, such as the level of insulation (Passive-Haus style) and the use of heat-recovering forced-air ventilation. The long answer is that a widespread shift to heating by heat pumps will likely require government intervention and subsidy in the short to mediun term, over-riding market forces. It is really true that because the market can't do it, it shouldn't be done ? Such seems to be the legacy of neoliberal ideology. Happy days ?
0 likes • Jul '24
This is one of the installations I would love to visit... experimental at a time when experiment really was so I guess. I guess the CAT building was part of the understanding of some of the issues later identified in hemcrete... hence the subsequently reported value of the crystallization process (by Madam Perrier). Perhaps that too has now been debunked but it all did appear persuasive. Hemp also had an uncomfortable image; however Henry Ford was reported to have intended to grow all his cars from the fields... until the fossil fuels lobby got a smell of it. My apologies; it is a digression from heat pumps but prompted by the reference to insulation across our millions of buildings. Lime Crete has another remarkable claimed feature that I recall... unmeasured by me of course, it is reported to carbonate over time... keep on hardening as it absorbs carbon from the environment. No idea of the performance of such a feature; it might be useful to have a co2 absorption measurement as with the Horse Power unit across time. I expect, vegetation species must have such an established factor. The hardening has been reported with (certain) roman bridges and on the great wall of china. Nevertheless, I suspect it is the in-home comfort in our current cool temperate zone and the energy savings that inspired me. Again, I've no idea what the cradling costs of manufacture really are compared with that of conventional cements (which are really dirty). I imagine Ravel would offer some insight to accumulated datasets.
1 like • Jul '24
Thanks Alwyn. I have always worked to tie in... anchor my environmental activism in with real and sustainable programs. Pre-2K, I carried the energetic notion that when persuasive economic benefits are provided and intertwined with environment gains, mountains can be moved... that successful local case-studies will lead to scaled up solutions. As a local chair of a national VSO, for the love of tomorrow, I orchestrated one challenging R&D project on 'Hemp-plus applications' to line up a licence for a test crop here in the North of England... we had DEFRA, NUF, the farmer, the land and the customers (inc. a an outdoor clothing firm hungry for an alternative to PetroChem oil)... all lined up ready and willing. Last minute the Regional Dev. Agency demanded yet further evidence of markets before releasing the funds on a crop that must acknowledge seasons; out of time all opportunity was spent on what was a low cost project with turnkey prospects. Even growing the crop for one season would have enhanced his exhausted soil hectares; hemp has a very deep taproot and a reported resilience to drought and pests... with of course some lurking anxieties.
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@william-james-colwell-5429
...are we there yet?

Active 11d ago
Joined Mar 5, 2023
UK
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