For all the best efforts we have seen over recent years, the gender pay gap in most countries remains an issue. There are lots of other factors determining how much you get paid, of course – your age, your education, where you live. Can these gaps ever be resolved? Probably not, says Steve Keen, who says the issue is one of hierarchy. Society needs hierarchy to organise itself, so we will always see some getting paid more than others, even if, on the face of it, they don’t deserve it. The question is, how do people rise to the top of the hierarchy and what is the pay differential between the top and the bottom.

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

For all the best efforts we have seen over recent years, the gender pay gap in most countries remains an issue. There are lots of other factors determining how much you get paid, of course – your age, your education, where you live. Can these gaps ever be resolved? Probably not, says Steve Keen, who says the issue is one of hierarchy. Society needs hierarchy to organise itself, so we will always see some getting paid more than others, even if, on the face of it, they don’t deserve it. The question is, how do people rise to the top of the hierarchy and what is the pay differential between the top and the bottom.

Steve Keen and Phil Dobbie had very different ideas about Brexit a few years ago. Now they both agree it’s a vote that should never have happened? So, is it the impact of tariffs?? Is it the impact on foreign investment? Is it impacts on the supply chain? No, many of those things, Steve believes, will be overcome. It’s the one unsurmountable thing that was never discussed ahead of the vote – the one thing that is likely to kill the whole idea. Now they agree on one thing, Brexit will never happen.

This one's free, but to hear the full version of all the Debunking Econbomics podcasts 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

One of the constraints of MMT is that to create more government money you need to have a sovereign currency. That rules out countries in the Eurozone and developing nations heavily reliant on the US dollar. Yet the idea of a Green New Deal is to resolve the issue of climate change using MMT. How can you pursue a global issue with a protocol that only applies in certain parts of the world? And how do you apply it without going down the dangerous road of world government? Questions Phil Dobbie puts to Prof Steve Keen in this week’s Debunking Economics podcast.

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

One of the constraints of MMT is that to create more government money you need to have a sovereign currency. That rules out countries in the Eurozone and developing nations heavily reliant on the US dollar. Yet the idea of a Green New Deal is to resolve the issue of climate change using MMT. How can you pursue a global issue with a protocol that only applies in certain parts of the world? And how do you apply it without going down the dangerous road of world government? Questions Phil Dobbie puts to Prof Steve Keen in this week’s Debunking Economics podcast.

Larry Randall Wray has suggested Modern Monetary Theory should be applied to create a Green New Deal. This week and next, Phil Dobbie talks to Prof Steve Keen about the idea of creating government money to tackle the climate emergency. Would it work? Is there a danger that public sector spending will crowd out private investment in innovative approaches to renewable energy? And what can we learn from the original New Deal, from Roosevelt just after the Great Depression?

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

Larry Randall Wray has suggested Modern Monetary Theory should be applied to create a Green New Deal. This week and next, Phil Dobbie talks to Prof Steve Keen about the idea of creating government money to tackle the climate emergency. Would it work? Is there a danger that public sector spending will crowd out private investment in innovative approaches to renewable energy? And what can we learn from the original New Deal, from Roosevelt just after the Great Depression?

There’s a glimmer of hope that the US China trade war will ease a little. In other words, it won’t get worse. But even so, the tariffs and other conditions are being felt in both countries. Steve Keen, who is not a fan of global trade, admits this one is having a destructive effect on the global economy. So how will it end? Could Trump achieve his aim of drawing manufacturing back to the United States? If he does, how long will it take? And what happens in the meantime?

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 a glimmer of hope that the US China trade war will ease a little. In other words, it won’t get worse. But even so, the tariffs and other conditions are being felt in both countries. Steve Keen, who is not a fan of global trade, admits this one is having a destructive effect on the global economy. So how will it end? Could Trump achieve his aim of drawing manufacturing back to the United States? If he does, how long will it take? And what happens in the meantime?

At the Labour party conference recently, UK Shadow Chancellor outlined the policy aim of reducing the working week to 32 hours, with no loss in pay. It’s been lambasted by many, who see it as a way of reducing productivity and costing jobs as businesses fail against overseas competitors with a lower cost base. In this week’s podcast, Prof Steve Keen tells Phil Dobbie that the protagonists have got it wrong. The reason productivity has slowed is because companies are becoming too reliant on low cost labour. A rise in labour costs will encourage more investment in technology, which is what will increase productivity. It’s impossible to increase the productivity of low skilled labour because humans can’t improve their energy output without machines to help them.

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

Load more