Debunking Economics - the podcast Podcast Por Steve Keen & Phil Dobbie arte de portada

Debunking Economics - the podcast

Debunking Economics - the podcast

De: Steve Keen & Phil Dobbie
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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. Ciencia Ciencias Sociales Economía
Episodios
  • Energy - the AI Achille's Heel

    Energy - the AI Achille's Heel
    Apr 14 2026
    In this episode of the Debunking Economics podcast, Phil Dobbie and Professor Steve Keen explore the precarious intersection of the ongoing global energy crisis and the massive resource demands of the AI revolution. The conversation traverses a landscape of geopolitical instability—from Iranian influence in the Strait of Hormuz to the vulnerabilities of Western microchip manufacturing—while questioning whether the "AI promise" can survive a world of dwindling energy supplies and extreme inequality. Professor Keen offers a provocative comparison between the disruptive force of political volatility and the impending reality of global warming, arguing that without a fundamental shift toward collective economic stability and energy self-sufficiency, the high-tech future envisioned by "Tech Bros" may be sidelined by the urgent requirements of human survival.

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    40 m
  • The looming diesel disaster

    The looming diesel disaster
    Apr 7 2026
    Phil and Steve discuss the escalating global energy crisis and Australia’s precarious response. They critique the government’s move to lower fuel prices by cutting excise taxes and GST, arguing that while it offers short-term relief to the working class, it fails to address the critical issue of supply and consumption. The conversation highlights a significant vulnerability: Australia maintains only a 30-day onshore reserve of petroleum, far below the International Energy Association's 90-day requirement. Steve warns that a total depletion of diesel reserves could lead to a domestic famine, as the nation's food distribution rely almost entirely on trucking. To mitigate future shocks, they explore the necessity of strategic rationing, the potential for a "carbon coupon" parallel currency, and the urgent need for a massive, publicly funded shift toward electrification.

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    37 m
  • Understanding the Value of Value

    Understanding the Value of Value
    Mar 31 2026
    In this episode of the Debunking Economics podcast, Phil Dobbie and Steve Keen explore the core of economic theory: the definition of value. They contrast the classical cost of production theory with the neoclassical focus on subjective utility, arguing that while neoclassical models often fail mathematical rigor, the cost-plus approach reflects how real firms operate. The pair discusses the critical role of innovation and market segmentation, noting that while competition typically forces margins back toward production costs over time, elite brands like Ferrari can maintain high markups by intentionally limiting supply and occupying unique segments where value is tied to exclusivity. Ultimately, they conclude that while short-term utility and innovation drive initial pricing, the long-term evolutionary dynamic of capitalism is anchored by the actual costs of production.

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    39 m
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I really enjoyed the analysis in the manufacturing fetishizing episode. It's great to listen to smart people discussing economics.

A Great Discussion on Economics

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You'll probably spend a little time looking up things but this is highly informative

Economics for not so dummies

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