# Top Economist: The unthinkable is about to happen to economic models

Page: https://stenobird.com/podcast/rebel-economics-with-professor-steve-keen-6936193/top-economist-the-unthinkable-is-about-to-happen-to-economic-models
Text version: https://stenobird.com/podcast/rebel-economics-with-professor-steve-keen-6936193/top-economist-the-unthinkable-is-about-to-happen-to-economic-models.md
Podcast: [Rebel Economics with Professor Steve Keen](https://stenobird.com/podcast/rebel-economics-with-professor-steve-keen-6936193)
Published: 2026-05-20T19:00:00+00:00
Episode link: https://www.stevekeen.com
Audio file: https://episodes.captivate.fm/episode/cb00e7f8-0a0e-45d8-88a1-bf7c17423072.mp3
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JSON: https://stenobird.com/v1/public/podcasts/rebel-economics-with-professor-steve-keen-6936193/episodes/top-economist-the-unthinkable-is-about-to-happen-to-economic-models
Duration seconds: 584

## Resource

📚 Learn 50+ years of Real Economics in only 7 weeks. Apply here: https://www.stevekeen.com/supplyanddemand (Apply this week and get my 3-Book Rebel Economist Bundle as a Free Bonus. Plus if you're fully approved by my team, get Ravel© - my proprietary economic visualization software I use in my YouTube videos; to predict the economy, like I did years before the 2008 Financial Crash happened). Is the foundation of modern economics built on a lie? What happens to governments, corporations, and global markets when the most powerful model in economic history supply and demand is exposed as a complete fabrication? As 80 years of empirical research has accumulated proving the model wrong, and as mainstream institutions continue to ignore it, the shockwaves of that denial are distorting policy, pricing, and public understanding of how the world actually works.In this in-depth economics explained breakdown, we analyze how the neoclassical supply and demand model was constructed on two unverified assumptions rising marginal costs and utility maximization and how independent surveys conducted since the 1950s have systematically destroyed both of them. This is not theory. This is data.The evidence has been building for nearly a century. The Oxford Economic Research Group found the disconnect in the 1930s. Samuelson's own experiments in 1938 invalidated the demand curve. 99.9% of products show constant or falling marginal costs. Only 11% of GDP is produced under neoclassical cost conditions. And the mainstream response has been complete institutional silence.But here's the question nobody in economics dares to ask: If supply and demand doesn't describe how businesses actually price, or how consumers actually behave what is the entire policy infrastructure of the modern economy act…

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