Professor Steve Keen joins Paradigm Shock's Anjon Roy to discuss the enduring dominance of neoclassical economics despite its failures, notably the 2008 financial crisis. Keen shares insights from his education in mathematical economics, which sparked his skepticism towards equilibrium models and led him to explore non-equilibrium and endogenous money frameworks, extending the work of the late great Hyman Minsky. The discussion revisits pivotal moments in economic thought, such as the Cambridge capital debates, while questioning why significant paradigm shifts remain elusive. Keen advocates for an interdisciplinary approach to better address the complexities of modern economies, urging listeners to develop innovative, critical perspectives on economic issues.

Dr. Steve Keen’s material and courses: https://book.stevekeenfree.com/

Dr Steve Keen’s contact: https://www.linkedin.com/in/dr-steve-keen-a476a77/

Other Sources Steve Likes:

Entropy Economics: https://www.levyinstitute.org/news_items/entropy-economics-the-living-basis-of-value-and-production/

Ergodicity Economics: https://ergodicityeconomics.com/

Review of Political Economy: https://www.tandfonline.com/journals/crpe20

Contact Paradigm Shock: 

[email protected]

Paradigm Shock welcomes Jesse Silverman, a fintech lawyer, who walks us through his career, detailing roles from a budding lawyer in Connecticut to serving at state and national regulatory bodies. Jesse shares firsthand experiences as a financial regulator during the 2008 crisis, exposing widespread fraud and systemic issues, to his experience standing up the Consumer Financial Protection Agency's Enforcement Division. He candidly discusses the challenges faced by regulators and those in industry. The conversation also touches on the transformation of financial regulation and innovations like open banking and AI, emphasizing the importance of ongoing vigilance and privacy for consumers in this evolving landscape.

Summary of topics covered: 

• Experience standing up the Consumer Financial Protection Bureau's Enforcement team and some life lessons.
• How actors in various fields such as state government regulators, federal regulators, tech, and finance firms differ in perspectives, incentives, and priorities.
• Thoughts on Open Banking and the revocation of Rule 1033, and its impacts on citizens regarding privacy, user sovereignty, and data rights.
• Final thoughts on AI and consumer finance.

Some of Jesse’s favorite sources:

Fintech Takes: https://fintechtakes.com

Fintech Brainfood: https://www.fintechbrainfood.com

Fintech Business Weekly: https://fintechbusinessweekly.substack.com/

Other items discussed or referenced: 

CFPB Rule 1033 is finalized 

CFPB Kills rule 1033

Open Finance is Hanging by a thread

Boiler Room Movie Trailer

Jesse’s Contact: https://www.linkedin.com/in/jessebsilverman/

Contact Paradigm Shock: 

[email protected]

Daniel Peris joins Paradigm Shock host, Anjon Roy, to discuss his unconventional path from history academia to asset management. Peris reveals how historical knowledge can provide unique insights into financial markets, challenging the status quo and outdated methodologies. His book, 'The Ownership Dividend,' forecasts a major paradigm shift regarding dividend investing in the  U.S. Stock Market and beyond. 

Daniel’s Latest book:

The Ownership Dividend: The Coming Paradigm Shift in the U.S. Stock Market

See also his previous book also referenced:

Back to Business: Why Modern Portfolio Theory Fails Investors

Daniel’s Substack: 

https://danielxperis.substack.com/

Select Substack Links:

https://danielxperis.substack.com/p/when-total-return-isnt

https://danielxperis.substack.com/p/philosophy-not-finance

Paradigm Shock Email:

[email protected]

Welcome to this special inaugural episode of Paradigm Shock! We are honored to welcome Matthew C Klein. He is the co-author with Michael Pettis of the famous book “Trade Wars are Class Wars” which won the 2021 Lionel Gelber Book Prize. He’s also a former writer for Bloomberg View, the Financial Times, The Economist and Barrons. He currently authors his newsletter The Overshoot.

Matthew is read across the world by central bankers, chief economists, academics, policymakers, and investors. Klein has given background presentations to U.S. Treasury officials, White House economic advisers, national security and intelligence staff, officials at the European Commission, and U.K. Parliament staffers.

Topics discussed in this episode include:

• Their broad thesis on how internal domestic imbalances and conflicts within countries can drive global imbalances and conflicts between countries.
• How do global capital flows interact with global trade flows? Which drives which?
• The great debate between the “Exorbitant Burden” versus “Exorbitant Privilege” regarding the US dollar’s role in global finance and the (somewhat) paradox of being on the receiving end of global saving and capital flows
• Assessing efforts and proposals by the current US administration to address these imbalances.
• Conclusions and ways forward

Matthew’s information below:

Trade Wars are Class Wars https://yalebooks.yale.edu/book/9780300261448/trade-wars-are-class-wars/

The Overshoot: https://theovershoot.co

Linkedin: https://www.linkedin.com/in/matthewcklein/

Speaker Booking: https://www.chartwellspeakers.com/speaker/matthew-klein/

Contact the Paradigm Shock team at [email protected]

Introducing the exciting new podcast, Paradigm Shock