Debunking Economics - the podcast - TopPodcast.com

View Top 200 Chart

Back to Rankings Page

Debunking Economics – the podcast — Education
Debunking Economics – the podcast

Economist Steve Keen talks to Phil Dobbie about the failings of the neoclassical economics and how it reflects on society.

Hosted on Acast. See acast.com/privacy for more information.

Copyright: © Copyright 2016 . All rights reserved.

Latest Episodes:

Time for a monetary reset? Feb 21, 2022

Show notes

A society riddled with debt is a society that is reluctant or unable to spend. A lot of that debt has now found its way into housing, with mortgages higher than ever. That’s money we’re using to pay off our home loan that we could be spending keeping the economy moving. In short, its slowing the speed at which money circulates. So, how do we fix it? The answer is get rid of the debt. And Steve Keen has a cunning plan. A monetary reset. How would it work? Phil Dobbie explores the idea in detail with Steve on today’s Debunking Economics podcast.

Hosted on Acast. See acast.com/privacy for more information.

Debt, loans and investments deciphered Feb 10, 2022

Show notes

Last year Andrew Bailey, the Bank of England Governor, spoke optimistically about how the UK economy would bounce back because so many people had stashed away money in their savings accounts. But, at the same time, we also saw rising levels of debt. This week, Phil Dobbie asks Steve Keen how you can have rising savings and debt at the same time. If you have spare cash sitting in your bank account, wouldn’t you use it to pay off your debts. The fact that people are not doing that tells us something about the state of the economy. And where did all these extra savings come from anyway? And why did they never materialise into a massive spending splurge like the Governor had predicted?

Hosted on Acast. See acast.com/privacy for more information.

How to burst the housing bubble Feb 01, 2022

Show notes

House prices in Australia continue to rise. According to Domain’s House Price Index, prices in Sydney have risen by a third in the last year, to a median value of $1.6 million. Housing affordability has never been a bigger issue, but how do you bring prices down when two thirds of the population are owner occupiers. That’s a question Phil Dobbie puts to Steve Keen, as he explains his two-pronged approach to containing house prices – first, limiting the value of loans to a multiple of the rental value of a property and, secondly, a big reset, which sees debt repaid and bonds issued to those who don’t currently own a property. Would it work, and could it be explained in a way that the voting population will understand?

Hosted on Acast. See acast.com/privacy for more information.

Who controls interest? Jan 24, 2022

Show notes

Central banks control the interest rate through the decisions of their various monetary committees. Almost all of them are set to raise rates multiple times this year. But what do they basis this decision on? These days it is related to the rate of inflation, but to what extent is that driven by the amount of money in circulation. Can the central bank control both? And what about the velocity of money? All questions Phil Dobbie puts to Steve Keen in this week’s Debunking Economics podcast, along with the question, what if we didn’t change interest rates at all?

Hosted on Acast. See acast.com/privacy for more information.

What’s driving the Great Resignation? Jan 09, 2022

Show notes

One of the surprises as we emerge from the worst of COVID (hopefully) is what’s being called the Great Resignation. Even though employment levels in most countries remain below pre-pandemic levels, that’s not stopping those who hung onto their jobs through the crisis from leaving in their droves. So, what’s driving this trend. Prof Steve Keen suggests it’s a “kick in the balls to the gig economy”. But what happens next? Already central banks are lifting interest rates, fearful of rising wages pushing inflation higher. How is that going to work out. Tune in to this free half-hour podcast as Phil Dobbie talks to Steve about what’s driving this dramatic shift in the labour market.

Hosted on Acast. See acast.com/privacy for more information.

The Perils of Government Subsidies Jan 04, 2022

Show notes

Even the most ardent supporters of small government will agree there are times when governments need to offer subsidies to companies and industries. Paying for the furloughing of workers during the pandemic was one unavoidable example. But are their times when subsidies can distort the economy in unforeseen ways. The support for the food industry that promotes livestock over plant-based diets is a prime example. This week Phil Dobbie asks Prof Steve Keen whether there a better way of supporting industries without complex subsidies?

Hosted on Acast. See acast.com/privacy for more information.

Where’s all the money coming from? Dec 18, 2021

Show notes

Around the world we have seen the size of the money supply increasing considerably over recent decades, but none more so than the last couple of years, as governments spend like crazy to support people during lockdowns and illness. In the UK the amount of money in circulation has increased by almost £200 billion. Phil Dobbie asks Steve Keen if there are consequences of growing the monetary base so quickly, and what’s the role of the central banks in controlling this supply?

Hosted on Acast. See acast.com/privacy for more information.

Not all contrarians are the same Dec 03, 2021

Show notes

There are a lot of people questioning the direction of conventional economics, yet, even after the biggest spending splurges ever made by governments outside wartime, there is still a lot of talk about fiscal conservatism, paying back the debt and balancing the budget. But contrarian voices question whether that is the best way forward, whilst others are seeing an end to fiat money and are buying into alternatives, like Bitcoin. In this free half hour podcast Phil Dobbie and Steve Keen look at those questioning the way our economies run and the contrarians who believe there’s a better way; contrarians who don’t agree with each other.

Hosted on Acast. See acast.com/privacy for more information.

Surviving with a negative trade balance Nov 28, 2021

Show notes

Is a negative trade balance such a bad thing? Some countries with a bit deficit seem to be doing okay, like American, even the UK to an extent, whereas others, like Japan have a trade surplus and a economy on the road to nowhere. This week Phil Dobbie and Steve Keen discuss how important is a trade balance for the overall good of an economy. And what about jobs? Donald Trump was concerned his trade deficit was giving away jobs to China. Was he right about that? And what about the strange suggestion from Modern Monetary Theorists that exports are bad, imports are good for an economy?

Hosted on Acast. See acast.com/privacy for more information.

Too much information Nov 20, 2021

Show notes

Economics works so well because we al have perfect information about everything, all the time. Right? We choose products at the best price because we know all about all products and their prices, so we can make the best choice. That means we can all pursue our own self-interests to provide the most efficient outcome for any situation. Huh? This week Phil Dobbie talks to Steve Keen about the myth of perfect information and the equally as convoluted theories around asymmetric information. But are we getting closer to this supposed information utopia, thanks to the internet? Or is it the supplier who is gathering perfect information, about us?

Hosted on Acast. See acast.com/privacy for more information.

Related Podcasts