Are we trying to apply theory developed for production-based economies, on economies driven by knowledge? It’s worse than that says Steve Keen. The theories around production were wrong in the first place, because of flawed assumptions on marginal productivity. It just gets messier when you’re dealing with digital products and a knowledge-based economy.
To hear the full version subscribe by picking a plan in the right column of the Debunking Economics website (not the mobile app). Or become a patron at https://www.patreon.com/ProfSteveKeen