Mainstream economics' focus on minimizing government debt while ignoring private debt may not be effective in understanding the full picture of the financial system.
Government debt and deficits can actually play a vital role in creating money and increasing the net financial worth of the private sector.
A government running surpluses while the private sector accumulates debt can lead to economic imbalances and potentially trigger financial crises.
Nate Hagens' podcast 'The Great Simplification' discusses the critical role of energy in human civilization and the potential for ecological overshoot to lead to major changes for humanity's survival.
The concept of 'Energy Blindness' is explored in a conversation between Nate Hagens and Steve Keen, tracing back to Adam Smith, known as 'the Father of Economics'.
The podcast conversation between Nate Hagens and Steve Keen is available both in audio and video formats for different preferences.