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Do we need population growth to enjoy economic growth? Phil Dobbie puts the question to Professor Steve Keen, who argues it’s not necessary and it’s a misnomer that cannot be sustained. Yet many countries see immigration as the only way of sustaining growth, including Kevin Rudd’s pitch for a Big Australia back in 2010. As he saw, and recent politics demonstrates, high immigration is not a popular policy and most people don’t equate it with economic prosperity.

To hear the full version subscribe by picking a plan in the right column of the Debunking Economics website (not the mobile app). Or become a patron at https://www.patreon.com/ProfSteveKeen

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Do we need population growth to enjoy economic growth? Phil Dobbie puts the question to Professor Steve Keen, who argues it’s not necessary and it’s a misnomer that cannot be sustained. Yet many countries see immigration as the only way of sustaining growth, including Kevin Rudd’s pitch for a Big Australia back in 2010. As he saw, and recent politics demonstrates, high immigration is not a popular policy and most people don’t equate it with economic prosperity.

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There’s an argument that economics can never be science because it involves the behaviour of humans. You can’t apply empirical rules in the way you do with physical sciences. In this episode of the Debunking Economics podcast Phil Dobbie asks Professor Steve Keen whether this means economics should never be seen as a science. Steve says economics can be a science, if economists behaved like scientists – that means recognising anomalies and adjusting their theories accordingly. To date, this isn’t happening. The response to the global financial crisis being a significant case in point.

To hear the full version subscribe by picking a plan in the right column of the Debunking Economics website (not the mobile app). Or become a patron at https://www.patreon.com/ProfSteveKeen

Premium

There’s an argument that economics can never be science because it involves the behaviour of humans. You can’t apply empirical rules in the way you do with physical sciences. In this episode of the Debunking Economics podcast Phil Dobbie asks Professor Steve Keen whether this means economics should never be seen as a science. Steve says economics can be a science, if economists behaved like scientists – that means recognising anomalies and adjusting their theories accordingly. To date, this isn’t happening. The response to the global financial crisis being a significant case in point.

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Australians talk of giving everyone a fair go. But it has different meanings for different people. For some, it implies freeing up the ability for people to get on with making a dollar without government interference. For others, it means the government offers the opportunity for all, presumably through subsidies and access to education. In this edition of the Debunking Economics podcast Phil Dobbie asks Professor Steve Keen how seriously should we take the laissez fare approach in the twenty first century. The answer, it seems, is that maybe the big government approach has gone a little too far.

To hear the full version subscribe by picking a plan in the right column of the Debunking Economics website (not the mobile app). Or become a patron at https://www.patreon.com/ProfSteveKeen

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August 1, 2017

56. Laissez Faire Go Mate

Australians talk of giving everyone a fair go. But it has different meanings for different people. For some, it implies freeing up the ability for people to get on with making a dollar without government interference. For others, it means the government offers the opportunity for all, presumably through subsidies and access to education. In this edition of the Debunking Economics podcast Phil Dobbie asks Professor Steve Keen how seriously should we take the laissez fare approach in the twenty first century. The answer, it seems, is that maybe the big government approach has gone a little too far.

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Most of us tend to have a vague notion of what Keynes stood for. Why, even neo-classic economists seem to be using his theories to rescue the economy from the ravages of the global financial crisis. So, what is post-Keynesian economics, and how does it differ from the theories espoused in The General Theory of Employment, Interest and Money. In this podcast, Professor Steve Keen explains to Phil Dobbie what post-Keynesian thinking is and how it differs from the thoughts of Lord Keynes himself.

To hear more episodes of this podcast subscribe by picking a plan in the right column of the Debunking Economics website (not the mobile app). Or become a patron at https://www.patreon.com/ProfSteveKeen

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Okay, this is a deliberately provocative title, but it relates to how the increase in two income households hasn’t necessarily made us better off. Hasn’t it simply reduced real wages and increased asset prices, particularly houses? How much different would the world be if only one member of the household went to work – man or woman. Phil Dobbie talks to Professor Steve Keen about the negative impact of a growing workforce – not just dual incomes, but also the rising number of hours worked. And how do we redress the balance?

To hear the full version subscribe by picking a plan in the right column of the Debunking Economics website (not the mobile app). Or become a patron at https://www.patreon.com/ProfSteveKeen

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Okay, this is a deliberately provocative title, but it relates to how the increase in two income households hasn’t necessarily made us better off. Hasn’t it simply reduced real wages and increased asset prices, particularly houses? How much different would the world be if only one member of the household went to work – man or woman. Phil Dobbie talks to Professor Steve Keen about the negative impact of a growing workforce – not just dual incomes, but also the rising number of hours worked. And how do we redress the balance?

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Governments everywhere are preoccupied with keeping their spending under control. We are conditioned into thinking about the massive levels of interest being paid on the money that our governments owe. In this edition of the Debunking Economics podcast Professor Steve Keen explains to Phil Dobbie why we should quit worrying – governments can create money through their central banks. He explains the process in detail. The only concern is when money is owed in a foreign currency – again, Steve explains why. The upshot is, we should be less concerned about government debt and more worried about our trade deficit.

To hear the full version subscribe by picking a plan in the right column of the Debunking Economics website (not the mobile app). Or become a patron at https://www.patreon.com/ProfSteveKeen

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