Quote:
Originally Posted by jsp
What Keen has stressed is that the economy is a very dynamic system, not a static one. He criticizes the economists who view the economy as almost always in equilibrium, when it most certainly isn't. Therefore, differential equations (or system dynamics) should be the tool used to model such a dynamic system, and he ridicules the economists who have such a sparse knowledge of the mathematical tools that nearly all engineers have learned/used at some time or another.
Here's a little snippet from his blog that highlight what he feels as the "three neoclassical myths" of mainstream economics...
http://www.debtdeflation.com/blogs/2...llingthegfc/

You make a good case for Marx's analysis of capitalism, because his dialectical interpretation clearly distinguishes him from economists with a "static" interpretation.