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
  • Chancellor Churchill fighting job creation

    Chancellor Churchill fighting job creation
    Oct 22 2025

    Before he was the UK Prime Minister at war with the Nazis, Winston Churchill ws the UK’s Chancellor. He played it very straight, with a preoccupation with balancing the budget. He also took the Uk back onto the Gold Exchange, despite warnings from Keynes that the move would be deflationary.


    In 1928 he reinforced his neoclassical credentials, saying very little additional employment and no permanent employment can be created by state borrowing and state expenditure. That is, of course, the exact opposite of the idea of a job guarantee, but is Churchill partially right? Can a job guarantee ever create jobs that will enhance productivity?


    This week Phil and Steve look into job creation and Churchill’s fear of using government spending to protect the labour market. It was a time when even Joh Maynard Keynes didn’t get everything right. For example, he argued that the multiplier effect would add new money and new employment from government cash injections. But how can you multiple the injection if no new money is created? And it ignores the real benefits jobs can create, behind the money gained from those directly employed, whether by the government or the private sector.

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    40 m
  • The Ins and Outs of Foreign Money

    The Ins and Outs of Foreign Money
    Oct 15 2025
    In UK politicians of all persuasions agree that foreign investment I s important to add to the growth of the UK economy. Steve says you have to have foreigners buying into the UK to counter the currency losses from a sizeable balance of trade deficit. But a lot of that investment will see profits being repatriated back overseas. And then there’d the overseas investment in UK bonds and shares. Andy Burnham, the Manchester Mayor who seems to be positioning himself to replace Keir Starmer, has said we need to limit the ownership of UK nbonds to foreign investors, and not be ‘in hock’ to bond markets. Has he got his thinking right?

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    43 m
  • Corbyn’s New Party Needs New Economic Thinking

    Corbyn’s New Party Needs New Economic Thinking
    Oct 8 2025
    recent spoke at a meeting of Jeremy Corbyn’s new venture – Your Party. Steve gave a presentation on how governments can spend more without worrying about the deficit, provided it was done sensibly. The argument that the private sector buying up government bonds will crowd out investment in other initiatives is bunkum. The private sector can still borrow for investment, perhaps benefiting from the enhanced infrastructure and trading environment government spending has created. But Phil argues there’s a big education job to be done – the politicians, the electorate and, more significantly, the bond vigilantes, who will see high government spending as a reason to push up bond yields, which will flow through to borrowing costs for everyone. Meanwhile, what chance as Corbyn’s new party got? Is the left divided itself between Corbyn, Galloway, the Greens, Labour and thew LibDems? Is this division creating a pathway for Reform to offer an agenda of low tax, fewer government services and heavily controlled immigration. In other words, Project 2025 transferred to British soil.

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    49 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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