Debunking Economics - the podcast

By: Steve Keen & Phil Dobbie
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  • Summary

  • 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 2016 . All rights reserved.
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Economics Science Social Sciences
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Episodes
  • Tariffic Trump

    Tariffic Trump
    Nov 20 2024
    At least half of America is elated with its new choice of President. Money is already flowing into the country, with early gains on the NYSE and the dollar shooting higher in value. Tariffs will be front and centre early in the new Presidency, with Trump describing Tariffs as “a beautiful word” recently. But will it have the intended effect. Could the strength in the dollar wipe out any of the benefits from domestic production? Will higher tariffs add to the cost and drive inflation? Does America have the skills base to manage the onshoring of so much productive capacity? Phil Dobbie and Steve Keen discuss what will happen next in America.

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    40 mins
  • Milking inheritance

    Milking inheritance
    Nov 13 2024
    The UK Labour party seems top have scored another own goal, with their inheritance tax on family farms. Previously farms were exe pt from inheritance, but that meant wealthy landowners, with massive stately homes set in sprawling estates could buy a few sheep and claim they were a farm. Hence, the government limited the exemption to properties worth less than £1 million, a threshold which Steve Keen suggests is well below a realistic level. Thresholds should only be there for th every rich, which is the US approach to inheritance. This week Phil and Steve look at ways of managing inheritance and ask whether there are better ways of ensuring we don’t see intergenerational wealth getting out of control.

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    39 mins
  • The economics of irresponsibility

    The economics of irresponsibility
    Nov 6 2024
    The classical economic assumption, from the days of Adam Smith, is that we all have free will and this freedom ensures the best possible outcomes for the economy, provided those decisions are based on greed and self-interest. This week’s episode opens with a student questioning Milton Friedman about the freedom of a man who couldn’t afford to pay his electric bill, so the power company cut him off and he died. Friedman says the fault lies with friends and neighbours who didn’t step in to support him. Perhaps they were too busy acting in their own self-interest. In a far-reaching discussion Phil asks Steve whether this is a failing of economics – and, if decisions can’t be made by free-will, who makes them?

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    39 mins

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