Steve 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 ( This, and his pioneering work on modeling debt-deflation, resulted in him winning the Revere Award from the Real World Economics Review ( for being the economist whose work is most likely to prevent a future financial crisis. He maintains a highly influential blog on economics ( and his book Debunking Economics is a classic exposition of why Neoclassical economic theory is not only wrong, but more of a threat to the survival of capitalism than any number of left-wing revolutionaries (a second edition will be published in September 2011).

Steve is Associate Professor of Economics & Finance at the University of Western Sydney, and author of the popular book Debunking Economics (Zed Books UK, 2001; He has over 70 academic publications on topics as diverse as financial instability, the money creation process, mathematical flaws in the conventional model of supply and demand, flaws in Marxian economics, the application of physics to economics, Islamic finance, and the role of chaos and complexity theory in economics. His work has been translated into Chinese, German and Russian.

His blog Steve Keen’s Debtwatch ( makes his non-orthodox approach to economics available to the public. The site has 11,000 subscribers and about 50,000 unique readers each month.

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

By this expert

Economics and the Powerful: Faulty Analysis, Economic Advice, and the Imperatives of Power

Paper Conference paper | | Apr 2013

“Look! Up there in the sky! What is it? Is it a plane? Is it a bird?” No, it’s a distraction from the robbery that is taking place in broad daylight on the ground.

Instability in Financial Markets: Sources and Remedies

Paper Conference paper | | Apr 2012

In the seemingly never-ending aftermath to the economic crisis that began in 2007, there is little disagreement that financial markets are characterized by instability rather than stability.

Featuring this expert

How Economics Became a Cult

Video | Sep 26, 2018

Steve Keen: “What an education in economics does is make you into a zealot

Deutsche Welle: Can we avoid another financial crisis?

News Oct 26, 2017

“Economist Steve Keen specializes in researching how private and public debt mountains arise and generate financial crises. In an interview with DW, he explains how the ECB could solve the problem — but probably won’t.”


From the Origins of Economic Ideas to the Challenges of Our Time

Event Plenary | Oct 21–23, 2017

INET gathered hundreds of new economic thinkers in Edinburgh to discuss the past, present, and future of the economics profession.

Economists are Divided over Brexit

Article | Jun 19, 2016

Some predict global economic catastrophe if Britain votes to leave the EU, others foresee a more limited set of consequences — and some see a telling trend in the public ignoring economists’ warnings