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
  • 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
  • Compound Growth in a Finite World

    Compound Growth in a Finite World
    Mar 24 2026
    This week Phil and Steve examine the concept of compound interest and its inextricable link to exponential growth in a world with finite resources. They discuss how interest was historically viewed as a sin—the crime of usury—across major religions until the industrial revolution provided the physical growth and energy consumption necessary to support such financial claims. The duo highlights the systemic risk posed by the expectation of permanent improvement in living standards, noting that while interest rates may not have an inherent limit, the biosphere certainly does.

    Hosted on Acast. See acast.com/privacy for more information.
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    41 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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