Why Economists Ignore the One Chart That Predicts Every Crash | Prof. Steve Keen

Welcome back to Impact Theory, where we dive deep into the minds shaping the future. In this episode, host Tom Bilyeu sits down with renowned economist Steve Keen, known for his heterodox and often controversial takes on modern economics. Together, they explore the fragile state of Western economies, the rise of China as a manufacturing powerhouse, and the fundamental forces behind economic booms and busts. Steve Keen challenges mainstream economic thought, dissecting the role of private debt, the dangers of an over-financialized system, and why traditional models often miss the mark when it comes to predicting crises like the 2008 financial meltdown. The conversation also delves into Marx’s misunderstood contributions, the necessity of balancing capitalism with strategic government intervention, and why the current AI investment frenzy might be setting the stage for the next big downturn. If you’ve ever wondered why wages feel stagnant, how real value is created, or what lessons America can glean from China’s blend of pragmatism and state-led growth, this is an episode you don’t want to miss. Get ready for an unfiltered look at the global economy and what needs to change to build a more resilient future. Sign up for my AI Masterclass: https://tombilyeu.com/ai-masterclass?utm_campaign=TBS-Livestream&utm_source=you tube&utm_medium=social Check us out wherever you get your podcasts: Spotify: https://open.spotify.com/show/1nARKz2vTIOb7gC9dusE4b?si=a8daffd2bf1f48fd Apple: https://podcasts.apple.com/us/podcast/tom-bilyeus-impact-theory/id1191775648 Do you need my help STARTING a business? Join me here inside ZERO TO FOUNDER: ( https://tombilyeu.com/zero-to-founder ) Get the exact systems, mindset shifts, and principles that built a $1B brand delivered straight to your inbox every week. Subscribe for free (https://tombilyeu.com) Check out our Video game - Project Kyzen: ( https://projectkyzen.io/) Catch Me Streaming on Twitch - ( https://twitch.tv/tombilyeu ) Link to IT discord: https://discord.gg/TZKJ2etPbT Tom's Favorite Things List: https://amzn.to/41Ftt7e For Business inquiries: connect@impacttheory.com FOLLOW TOM: Instagram: https://www.instagram.com/tombilyeu/ Twitter: https://twitter.com/tombilyeu YouTube: https://www.youtube.com/@TomBilyeu Quince : Free shipping and 365-day returns at https://quince.com/impactpod Whatnot : Download the Whatnot app today and get free shipping on your first order. Monarch Money: Start your free trial and get 50% off your first year of total money clarity at https://monarchmoney.yt.link/QxOLEVx or code TB50 for 50% Off Monarch Core tier. ATT Business : Switch to AT&T Business at business.att.com Ketone IQ: Visit https://ketone.com/IMPACT for 30% OFF your subscription order Netsuite: For the first time ever you can try NetSuite Next for free. If your revenues are at least in the seven figures, go to https://NetSuite.ai/Theory. Surfshark : Go to https://surfshark.com/TOMB or use code TOMB at checkout to get 4 extra months of Surfshark! See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info .