How to Outsmart Economists with System Dynamics ft. Ty Keynes

“We know more about black holes now, than we know about interest rates.” That’s Ty Keynes, explaining just how incomprehensible our global financial system actually is. And as a devout practitioner of Systems Dynamics, he has more than put in the legwork to try making sense of the mess. Imagine that you were able to create a model of what will happen in our world, based on the cycles that it tends to follow – that’s more or less what systems dynamics allows us to do. But when applied to capitalist economics, the results are chaos.

 

They do show one thing clear as day, however: a capitalist system is guaranteed to destroy our biophysical environment at breakneck speed. And it will drag us through cycles of personal and collective misery along the way. By the end of this episode, you’ll see through Ty’s models how closely we can predict the future of our world if we stay the course we’re on currently. And you’ll understand why the most effective remedy for our situation is people making decisions together, and supporting each other on the road back to any kind of sustainable sanity.