Debunking Economics - the podcast By cover art

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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Episodes
  • Two parties obsessed with government debt

    Two parties obsessed with government debt
    Jun 12 2024
    Imagine if Keir Starmer, the UK Labour leader, had said, let’s not get too obsessed with government debt. If we go down that road we won‘t be able to provide the public services we need, our infrastructure will crumble further and we’ll simply see the country’s productivity erode further by the day. Unfortunately, he didn’t say that. Instead, he has pledged himself to the temple of fiscal responsibility, just like the Conservatives. That means, whichever party is in power the UK can expect something akin to the austerity that plagued the last 2010s. Phil asks Steve just ow much extra spending the government can get away with, though, when the Liz Truss experience suggests governments are answerable to the financial markets.

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    36 mins
  • Rising margins, higher inflation, lower wages. No wonder you feel worse off.

    Rising margins, higher inflation, lower wages. No wonder you feel worse off.
    Jun 5 2024

    There’s been a debate brewing post-pandemic about how much inflation has been elevated by companies increasing their margins. The evidence of that is the increased profits, not just in the tech sector, which has helped increase the share prices of these companies, evidenced by record levels across the US share market indices.


    This week Steve Keen says its clear that is happening. Even before the pandemic, when inflation was lower, companies were still increasing their margins more than the level of wages, so workers were increasingly worse off. Hence the pre-pandemic stagnation. But companies need to improve their efficiency to fend off competitors and provided the rising returns that investors are demanding. So, isn’t the constant drive for higher margins simply an acceptable and necessary function of capitalism?


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    43 mins
  • Productivity – the election winner that Rishi Sunak failed on

    Productivity – the election winner that Rishi Sunak failed on
    May 29 2024
    The UK is heading to the polls on July 4th and the Conservative Party is heading for annihilation. Yet, when it comes to espousing sensible ideas from textbooks, Rishi Sunak had the making of a good Prime Minister. For example, tackling productivity by building the necessary infrastructure, investing in education and building cities and regions where businesses could cross pollinate their expertise, facilitated by strong communication and transport links. He presented all of these ideas three years ago and since then productivity has fallen. Why? Steve says these are all great ideas, but there was no money there to support them. You can’t facilitate growth whilst pulling money out of the economy through government spending cuts. Hence, Tory party economics has failed on delivery.

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    43 mins
Economics Social Sciences Science
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Economics for not so dummies

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

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