Economics and the wider environment - Fifth short

4. Economics provides answers to problems related to markets, efficiency, profits, consumption and economic growth. Does economics do a good job in addressing the other issues people care about: climate change and the wider environment, the role of technology in society, issues of race and class, pandemics, etc.?
🔺Mark Blyth (Scottish. Economist, author, William R. Rhodes Professor of International Economics at Brown University)
🔺James K. Galbraith (American. Economist and adviser, author, currently Professor at the University of Texas in Austin)
🔺Steve Keen (Australian. Economist, author, and noted neo-Keynesian thinker and critic of neoclassical economics)
🔺Paola Subacchi (Italian. Economist. Professor of International Economics and Chair, Global Policy Institute, Queen Mary University of London, Visiting professor at University of Bologna, author.)
🔺Arunma Oteh (Nigerian. Economist, Former Treasurer and a Vice President of the World Bank)
🔺Grigory Yavlinsky (Russian. Economist and politician. Author. Professor Higher School of Economics University, Moscow. Leader of the opposition Liberal political party)
🔺Rebecca Henderson (American. Economist, author, John and Natty McArthur University Professor at Harvard Business School)
🔺Harold James (British. Economic historian, specialized in the history of Germany and European economic history. Professor at Princeton, author")
🔺Jason DeSena Trennert (American-Italian. Chairman and CEO of Strategas, one of Wall Street’s top thought leaders on markets and economic policy)
🔺Nancy Qian (Chinese and American. Economist. Professor in the Kellogg School of Management Managerial Economics and Decision Sciences at Northwestern University)
🔺Koichi Hamada (Japanese. Tuntex Professor Emeritus of Economics at Yale University, adviser)
0:00 - Intro
0:13 - Start interview
Age of Economics: in the first part of this project a diverse group of global thinkers answers 8 fundamental questions about economics and capitalist civilization.
►Website 👉www.ageofeconomics.org
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Video by Fabio Dondero
Music: J.S. Bach, from The Well-Tempered Clavier. Kimiko Ishizaka, piano

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Can economists do algebra? I asked a PhD economist from the University of Chicago to explain how an automobile engine worked. He couldn't even start. How much do consumers lose on the depreciation of durable consumer goods each year? How does planned obsolescence affect that? Economists do not talk about NDP. Check the NDP equation. Only the depreciation of capital goods is subtracted. There were 200,000,000 cars in the US in 1994. How many were owned by consumers? Where did the depreciation of consumer automobiles go? When they bought replacements that was added to GDP. Then the new junk gets to depreciate and be ignored by economists.