Debunking Economics - the podcast

Written 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.

    Hosted on Acast. See acast.com/privacy for more information.
    Copyright 2016 . All rights reserved.
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Economics Science Social Sciences
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Episodes
  • More on how money is created

    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 mins
  • Coinucopia’s thriving banking sector

    Coinucopia’s thriving banking sector
    Jan 29 2025
    Steve and Phil have described the island of Coinucopia in previous editions of the podcast. It started as a place where only coins were legal tender, and the supply of coins didn’t increase. They explained how that created deflation and inhibited growth, so the government started adding more coins. Then they let banks issue loans. Now, what happens when the island allows banks to issue electronic loans. Actually, life becomes much simpler. Much simpler than most conventional economists would have you believe. Listen in to understand how banking now works, not just in Coinucopia, but in the real world.

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    46 mins
  • Reeves off track on growth

    Reeves off track on growth
    Jan 22 2025
    Rachel Reeves, the UK Chancellor, has fallen into the debt-trap argument. She says she is focused on growth, but she is also determined to balance the budget. Cuts to government spending is part of the picture, but her biggest attack has been on business, increasing tax on employment. You could argue that if you are going to tax anywhere, taxing business is better than taxing personal income, but Steve argues that anything that drives money out of the real economy will slow growth, evidenced by the latest numbers showing GDP has flat lined.

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

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