Debunking Economics - the podcast

Auteur(s): Steve Keen & Phil Dobbie
  • Résumé

  • 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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Épisodes
  • The trade war has begun
    Feb 19 2025
    Reciprocal tariffs could be coming to every OECD country if we believe everything Donald Trump says. He sees VAT as a tariff imposed on US imports, which means he wants to impose the same amount on those countries for goods they export to America. That would apply to every OECD country and, supposedly, the President has said there will be no exceptions. Does this mean a global trade war is just about to happen? Steve has been a supporter of protectionism as a way to aid growth, and understands the need for America to bring jobs back home, but not with the “bull in the China shop approach” that Trump is taking. But Phil asks whether the horse has already bolted. The web of international supply chains is well established and difficult to break. Haven’t we all benefited from lower cost goods? And even if you brought back production functions would automation mean few new jobs would be produced? In short, is Trump too late to make a difference. Will he just create chaos?

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    41 min
  • Do we need a reserve currency?
    Feb 12 2025
    The new US Treasury Secretary Scott Bessent recently re-iterated the US desire to remain as the world’s reserve currency, because they like a strong dollar that’s in demand worldwide. Burt he also says he doesn’t want other currencies weak, because that gives thema trade advantage. That sounds like a “cake and eat it” philosophy. This week Phil asks Steve whether the US would be better off if it wasn’t the reserve currency, and whether, in these days of electric transfers, do we actually need a reserve currency?

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    41 min
  • More on how money is created
    Feb 5 2025

    Phil asked Steve a lot last week about how bank create money through the loans they issue. But he has been, it’s fair to say, a little less convinced about how government deficits create money. So prepare for a light bulb moment as Steve breaks down the process that sees the government spending more, with more money moved to the private sector, and people buying bonds, effectively with new money.


    They also answer a couple of listeners questions -one on the impact of Donald Trump’s tax cuts, another on crypto and another on a Worgel-like supplementary currency. Which of those creates new money?


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    36 min

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