Debunking Economics - the podcast

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11. Why Debt is Like Sex With Accountants

December 6th, 2016

In this FREE episode of The Debunking Economics podcast Prof Steve Keen explains to Phil Dobbie why economists have got their theories wrong because they have misunderstood the role of double entry book-keeping. That means, argues Steve, this episode will be particularly exciting for accountants – perhaps the most fun they’ll ever have. And we discover why government debt is generally a good thing, but too much private debt can be destructive.

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10. National debt and private debt – how one can help the other (preview)

November 30th, 2016

The media, governments and mainstream economists are obsessed with concerns over government debt. Yet in the UK and most other developed nations private debt is a bigger issue. Why is it that we expect our governments to operate without borrowing, whilst many of us are mortgaged to the hilt? In this edition of The Debunking Economics podcast we examine the two types of debt and the consequences of each rising to high levels. Also, why does one tend to rise while the other falls? What can we learn from the 1920s? And why is the trade balance a related, but more important, issue.

To listen to the full episode subscribe by choosing a plan in the right column at debunkingeconomics.com

00:0000:00

10. National debt and private debt – how one can help the other

November 30th, 2016

The media, governments and mainstream economists are obsessed with concerns over government debt. Yet in the UK and most other developed nations private debt is a bigger issue. Why is it that we expect our governments to operate without borrowing, whilst many of us are mortgaged to the hilt? In this edition of The Debunking Economics podcast we examine the two types of debt and the consequences of each rising to high levels. Also, why does one tend to rise while the other falls? What can we learn from the 1920s? And why is the trade balance a related, but more important, issue.

9. How Much is Free Trade Costing Us? (preview)

November 26th, 2016

Back in 1817, in his catchy titled book ‘On the principle of political economy and taxation’, David Ricardo gave the mathematical argument for free trade based on comparative advantage. The argument goes that we’d all be better off if countries focused on what they’re best at producing, even if someone else might do a better. In this episode Prof Steve Keen explains to Phil Dobbie why the theory doesn’t hold – we only need to look at the industrialisation of Japan as an example.

To listen to the full episode subscribe by choosing a plan in the right column at debunkingeconomics.com

00:0000:00

9. How Much is Free Trade Costing Us?

November 26th, 2016

Back in 1817, in his catchy titled book ‘On the principle of political economy and taxation’, David Ricardo gave the mathematical argument for free trade based on comparative advantage. The argument goes that we’d all be better off if countries focused on what they’re best at producing, even if someone else might do a better. In this episode Prof Steve Keen explains to Phil Dobbie why the theory doesn’t hold – we only need to look at the industrialisation of Japan as an example.

8. Influencing the Speed of Money (preview)

November 18th, 2016

Milton Friedman had a theory that the wealth of a nation was determined by the amount of money and the velocity of that money. In other words, if we exchanged money more quickly we’d all be better off. Phil Dobbie asks Professor Steve Keen if Friedman’s theory is correct and, if so, why doesn’t government policy focus on speeding up money?

To listen to the full episode subscribe by choosing a plan in the right column at debunkingeconomics.com

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8. Influencing the Speed of Money

November 18th, 2016

Milton Friedman had a theory that the wealth of a nation was determined by the amount of money and the velocity of that money. In other words, if we exchanged money more quickly we’d all be better off. Phil Dobbie asks Professor Steve Keen if Friedman’s theory is correct and, if so, why doesn’t government policy focus on speeding up money?

7. Austerity is Chipmunk Thinking (preview)

November 16th, 2016

In this podcast Phil Dobbie talks with Steve Keen about the rationale behind government austerity measures, the thinking being that government debt is holding back the prospects for economic growth. Steve argues that this assumes the economy behaves like chipmunks, hording nuts for the winter. In effect, the approach takes money out of the economy, doing the opposite of helping the economy grow.

To listen to the full episode subscribe by choosing a plan in the right column at debunkingeconomics.com

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7. Austerity is Chipmunk Thinking

November 16th, 2016

In this podcast Phil Dobbie talks with Steve Keen about the rationale behind government austerity measures, the thinking being that government debt is holding back the prospects for economic growth. Steve argues that this assumes the economy behaves like chipmunks, hording nuts for the winter. In effect, the approach takes money out of the economy, doing the opposite of helping the economy grow.

6. Monopolies - a necessary evil? (preview)

November 12th, 2016

In this episode Steve Keen argues that monopolies commissions have got it wrong, believing the consumer wins when all firms in an industry are of similar size. He argues that the best outcomes occur when businesses form a "power law" structure. And control of monopolies, he reckons, should be handed over to evolutionary biologists. Find out why in this edition of The Debunking Economics podcast.

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