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Yves here. This is a terrific talk in which James Galbraith, recapping his work in Entropy Economics, explains how the foundations of economics are fundamentally at odds with the operation and limits of our physical world. Trust me, either put it on for a listen or find the time to read the transcript. Galbraith offers a fresh and important view of where what presents itself as economic logic is dead wrong and how we might go about making better policy decisions.

By Lynn Fries. Originally published at GPENewsdocs

LYNN FRIES: Hello and welcome. I’m Lynn Fries, producer of Global Political Economy, or GPEnewsdocs. Today’s guest, James Galbraith, will be discussing his new book, Entropy Economics: the Living Basis of Value and Production. In the book, James K. Galbraith and co-author Jing Chen, present an economic theory tied to the living basis of value and production- an entropy theory of value and a

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