An enlightening video summary of Steve Keen’s “The New Economics”.

HOW DID NEOCLASSICAL ECONOMICS COME TO BE?

That separate particular story is engagingly told by Professor Mason Gaffney in “Neoclassical Economics as a Strategy Against Henry George“, wherein it is shown the rent-seeking class decided it needed to find economists who would assist to bury the increasingly popular idea of public capture of publicly-generated economic rents, instead of taxing incomes and purchases.

JB Clark and his followers proved to be up to the task, and although it took quite some time to make headway during the post 1893-97 depression Progressive Era, neoclassical economics came to finally achieve its purpose at the 1930s depression. The rent-seeking class had won. It was ‘game over’ for a progressive economics under which everyone might prosper, not just the 0.1%.