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Professor Steve Keen Biography

Professor Keen was one of the handful of economists to realize that a serious economic crisis was imminent, and to publicly warn of it from as early as December 2005 (Bezemer 2009). This, and his pioneering work on complex systems modeling of debt-deflation (Keen 1995), resulted in him winning the Revere Award from the Real World Economics Review for being the economist “who first and most clearly anticipated and gave public warning of the Global Financial Collapse and whose work is most likely to prevent another GFC in the future”.

Professor Keen’s research specialty is monetary macroeconomic modeling. With the support of INET, Professor Keen has developed Minsky, an Open Source, cross-platform, visual monetary macroeconomic modeling program. It is now available for use by other researchers at http://www.debtdeflation.com/blogs/minsky/.

Professor Keen maintains an influential blog on economics (www.debtdeflation.com/blogs) and his book Debunking Economics (Keen 2001; Keen 2011) sets out the many formal critiques of Neoclassical economics in a manner that is accessible to the intelligent non-academic reader.

He is a Professor of Economics & Finance and has over 70 academic publications on a diverse range of topics, including modeling financial instability, monetary macroeconomics, Econophysics, chaos and complexity theory, Islamic finance, mathematical flaws in Neoclassical microeconomics, and logical flaws in Marxian economics.

In Steve’s pre-academic career he was a school librarian, education officer for an NGO, conference organizer, computer programmer, journalist for the computer press, and economic commentator for ABC Radio.

Bezemer, D. J. (2009). “No One Saw This Coming”: Understanding Financial Crisis Through Accounting Models. Groningen, The Netherlands, Faculty of Economics University of Groningen.

Keen, S. (1995). "Finance and Economic Breakdown: Modeling Minsky's 'Financial Instability Hypothesis.'." Journal of Post Keynesian Economics 17(4): 607-635.

Keen, S. (2001). Debunking economics: The naked emperor of the social sciences. Annandale Sydney & London UK, Pluto Press Australia & Zed Books UK.

Keen, S. (2011). Debunking economics: The naked emperor dethroned? London, Zed Books.