Chapter
The limits of Economics and the need for Interdisciplinary Science
2:11:48 - 2:21:19 (09:31)
The economic system cannot deal with crises like the loss of the Gulf Stream, which economist Richard Tolf has predicted would only increase global GDP by 1.1%. Rather, interdisciplinary research is essential to understanding the complex systems of climate change and the biosphere.
Clips
Economist Richard Toll published a paper in 2016 claiming that losing the Gulf Stream due to climate change would increase global GDP by 1.1%, while the proportion of Earth's surface suitable for producing wheat may fall from 20% to 7%.
2:11:48 - 2:15:40 (03:52)
Summary
Economist Richard Toll published a paper in 2016 claiming that losing the Gulf Stream due to climate change would increase global GDP by 1.1%, while the proportion of Earth's surface suitable for producing wheat may fall from 20% to 7%. This highlights the complexity of the biosphere as a system and challenges certain confidence in the ability to deal with climate change.
ChapterThe limits of Economics and the need for Interdisciplinary Science
Episode#303 – Steve Keen: Marxism, Capitalism, and Economics
PodcastLex Fridman Podcast
The consequences of climate change as stated by scientists are often ignored by economists who make flawed assumptions with poor economic analysis.
2:15:40 - 2:18:27 (02:46)
Summary
The consequences of climate change as stated by scientists are often ignored by economists who make flawed assumptions with poor economic analysis.
ChapterThe limits of Economics and the need for Interdisciplinary Science
Episode#303 – Steve Keen: Marxism, Capitalism, and Economics
PodcastLex Fridman Podcast
Chaos theory makes predicting the weather a complex task but by using statistical measurement, narrow forecast horizons and modeling on grids, we can make a reasonable prediction.
2:18:27 - 2:21:19 (02:52)
Summary
Chaos theory makes predicting the weather a complex task but by using statistical measurement, narrow forecast horizons and modeling on grids, we can make a reasonable prediction.