Socialist Economist Goes to WAR With PBD Over Capitalism Debate
Valuetainment
Jul 21, 2026
Economist Steve Keen argues that mainstream economic theories, both neoclassical and Marxist, are fundamentally flawed by ideological bias. He contends that China’s hybrid model of state-led infrastructure and private-sector innovation offers a more effective path than pure capitalist or command-economy systems.
Key insight: Keen argues that Karl Marx was a superior logician to Milton Friedman, yet both men ultimately distorted their own logic to force conclusions that aligned with their pre-existing ideological goals.
