The Economist Who Predicted 2008 Crash Says AI Bubble Bursts Soon

Steve Keen is a sophist. These kind of academics these days (post social media/youtube) spend more time talking to non experts and lay people than doing any serious work. Its like the attention economy keeps them employed rather than solving an actual problem. Pay attention to such folk at your own risk. They will act as if the weather is controllable if x y and z happens when the truth is the weather cant be controlled.

Also AI is not like 2008 because unlike the housing market which is ancient and predictable AI is new and not predictable. Steve Keen cant predict what AI is going to do next week. On top of it there are geopolitical/national security layers that will influence the story in ways economics doesnt handle.

Re: The Economist Who Predicted 2008 Crash Says AI Bubble Bursts Soon – Steve Keen [video]

#5

Post by SockThief » Sun, Aug 16, 2026, 12:54 PM UTC

nx77 wrote: post #4

Steve Keen is a sophist. These kind of academics these days (post social media/youtube) spend more time talking to non experts and lay people than doing any serious work. Its like the attention economy keeps them employed rather than solving an actual problem. Pay attention to such folk at your own risk. They will act as if the weather is controllable if x y and z happens when the truth is the weather cant be control…

Could you address his arguments rather then himself? A little background doesn't hurt, but let me make up me mind before calling people names.

Also I don't necessarily agree with him, but at no point in the interview a housing market is mentioned.

Re: The Economist Who Predicted 2008 Crash Says AI Bubble Bursts Soon – Steve Keen [video]

#6

Post by pmpmpmpm » Sun, Aug 16, 2026, 2:35 PM UTC

The old adage always applies - the market can stay irrational longer than we can stay solvent!