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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.

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Copyright: © Copyright 2016 . All rights reserved.

Latest Episodes:

How practicable is a debt jubilee? Dec 04, 2017

Show notes

Professor Steve Keen has often spoken of the need for a debt jubilee. If households can write off their ever expanding, mortgage driven, debt, then we reduce the risk of asset bubbles and consumer spending drying up leading to recession or depression. But, Phil Dobbie asks, how would it work in practice? Has it been tried anywhere and what are the possible side effects?

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What's causing the productivity slump? Nov 28, 2017

Show notes

The UK government announced an industrial strategy this week to tackle the problem of weak productivity growth. Yet, as Prof Steve Keen discusses with Phil Dobbie, the issue isn’t one of investment, as much as who the beneficiaries are from money spent on equipment aimed at improving productivity.

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The Real Answer to the Affordable Housing Issue Nov 23, 2017

Show notes

The UK’s Chancellor of the Exchequer has a plan to make housing in the UK more affordable. Sadly, it won’t work. His idea of cutting stamp duty for first home buyers on the first £300,000 of their half a million pound homes, will only make matters worse. So, what’s the real answer? As Professor Steve Keen explains to Phil Dobbie, it’s not to increase supply. Why not? And what should Philip Hammond have put in his budget if he really wanted to make a difference.

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Does Competition Hold Us Back? Nov 20, 2017

Show notes

In her book ‘Capitalism’s Toxic Assumption’ Eve Poole suggests competition can other be more destructive rather than a positive contributor to the economy. In this edition of The Debunking Economics Podcast Phil Dobbie talks to Prof. Steve Keen about scenarios where competition is more of a hinderance than a help. Can the competition regulator sometimes get in the way of initiatives that would be for the public good? Is there a mindset change required on how companies operate and work together?

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The Unanswerable Irish Border Question Nov 13, 2017

Show notes

Ever considered that the reason nobody has come up with an answer to how the EU border with Northern Ireland will work, is because there isn’t one. And that’s really bad news for the Republic of Ireland. In this podcast Phil Dobbie suggests that's the case. The choices of a frictionless border or North Ireland remaining within the EU are both unworkable. So what will happen if there’s a hard border? Phil discusses the issue with Prof Steve Keen, an ardent Brexiteer, who believes Britain’s exit will help towards the collapse of the EU and, in particular, the Euro. In the meantime, though, Ireland can expect to feel a lot of pain. Listen to find out why.

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What Makes a Currency Stable? Nov 10, 2017

Show notes

Currencies fluctuate so much that there’s a lot of money being made betting on their movements. But isn’t that bad for an economy, creating uncertainty in prices for exports and imports? David, a Debunking Economics podcast listener, asks what is the critical factor for ensuring a stable currency. Phil Dobbie puts the question to Professor Steve Keen, but also has the answer first off – he must be learning for these podcasts!

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Capitalism without capital accumulation Nov 06, 2017

Show notes

There are two drivers for capitalism – the desire to consume and the desire to accumulate. Whilst the first is as strong as ever, the rising price of assets is making it harder to accumulate. So does this influence how effective capitalism is – will we work as hard if we know we can’t afford to accumulate? Or if they can afford to accumulate do they do it at the cost of consuming? Phil Dobbie talks to Prof Steve Keen about how consumer behaviour is changing and the impact in the broader economy.

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Is the Bank of England nuts? Nov 02, 2017

Show notes

Has the Bank of England lost the plot? They have lifted interest rates as though the economy was booming. Yet, just two weeks ago the Financial Conduct Authority reported that many would struggle to pay £50 more each month on our mortgage, and real wages haven’t budged for over a decade. In this edition of the Debunking Economics podcast Phil Dobbie asks Professor Steve Keen what the central bank thinks it’s doing!

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DSGE Models Debunked Oct 31, 2017

Show notes

Dynamic, stochastic general equilibrium (DSGE) models are used by monetary policy analysts the world over. But, in this edition of the Debunking Economists podcasts, Prof. Steve Keen suggests to Phil Dobbie that the model is neither dynamic nor general that fail to recognise shocks and crises like the financial crisis or the great depression.

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Who controls the money supply? Oct 24, 2017

Show notes

It seems common sense that we should keep a handle on the amount of money in circulation. Central banks, curiously, think they do. But, as Professor Steve Keen explains to Phil Dobbie in this edition of the Debunking Economics podcast there are lots of ways money is created. Unfortunately, all our not recognised by conventional economists, and until we realise where money is coming from we have no hope of controlling the supply of it, or ensuring its growth is applied in an equitable way.

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