According to the World Health Organisation, Antibiotic resistance is rising to dangerously high levels in all parts of the world. New resistance mechanisms are emerging and spreading globally, threatening our ability to treat common infectious diseases. Sadly, the ROI of antibiotic research is now too low for most pharmaceutical companies to consider. In this week’s free edition of the Debunking Economics podcast Phil Dobbie and Prof Steve Keen talk about the failings of the free-market system and health provision.

Regular listeners will know that most money in circulation is created, bot by central banks, but by commercial banks when they issue loans. In this week’s podcast Phil Dobbie asks Steve Keen how fundamental this is to the slow growth, low interest economy the world has found itself in. Isn’t there a danger that banks will limit the supply when times are bad when, in fact, what the economy needs at those times is more money? Just how much influence do central banks have on the activities of commercial banks these days? Should there be more regulation to control how much money banks create? The answer is yes, but only for money created to fund certain times of loans.

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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Regular listeners will know that most money in circulation is created, bot by central banks, but by commercial banks when they issue loans. In this week’s podcast Phil Dobbie asks Steve Keen how fundamental this is to the slow growth, low interest economy the world has found itself in. Isn’t there a danger that banks will limit the supply when times are bad when, in fact, what the economy needs at those times is more money? Just how much influence do central banks have on the activities of commercial banks these days? Should there be more regulation to control how much money banks create? The answer is yes, but only for money created to fund certain times of loans.

If the UK is going to prosper about Brexit, it needs to get its mojo back. The nation that crated everything from the tank to the telegraph was once a world centre for innovation. So, rather than focusing on who is going to screw us over with an unfavourable trade deal, shouldn’t the UK government be focusing on how to drive innovation once Britain is removed from the shackles of Brussels. Staunch remoaner Phil Dobbie talks to ardent Eurosceptic Steve Keen about how to drive innovation in an economy that has become dependent on the finance sector. You may ask, why isn’t the UK doing anything to make the most of the opportunity that apparently lies ahead.

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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If the UK is going to prosper about Brexit, it needs to get its mojo back. The nation that crated everything from the tank to the telegraph was once a world centre for innovation. So, rather than focusing on who is going to screw us over with an unfavourable trade deal, shouldn’t the UK government be focusing on how to drive innovation once Britain is removed from the shackles of Brussels. Staunch remoaner Phil Dobbie talks to ardent Eurosceptic Steve Keen about how to drive innovation in an economy that has become dependent on the finance sector. You may ask, why isn’t the UK doing anything to make the most of the opportunity that apparently lies ahead.

The markets are concerned that we are on the verge of a global recession. How do they know? Not from reading tea-leaves but by studying yield curves. An inverted yield curve has signalled every recession since the 1980s. So, Phil Dobbie asks Steve Keen, does that mean next year is going to be 2008 all over again. In short, no is the answer. 2008 was caused by a collapse in credit-based demand. We’re not seeing the same level of decline in that demand this time. So, the good news is, we might not be heading for a recession. The bad news is it more likely to be a sustained period of stagnation and central banks aren’t helping us out of it.

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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The markets are concerned that we are on the verge of a global recession. How do they know? Not from reading tea-leaves but by studying yield curves. An inverted yield curve has signalled every recession since the 1980s. So, Phil Dobbie asks Steve Keen, does that mean next year is going to be 2008 all over again. In short, no is the answer. 2008 was caused by a collapse in credit-based demand. We’re not seeing the same level of decline in that demand this time. So, the good news is, we might not be heading for a recession. The bad news is it more likely to be a sustained period of stagnation and central banks aren’t helping us out of it.

A little over 75 years ago World powers signed the Bretton Woods agreement, that saw the US dollar as the planet’s reserve currency, tied to reserves of Gold. In this week’s podcast Phil Dobbie talks to Prof Steve Keen about how the agreement missed the opportunity to create a separate reserve currency, the approach preferred by John Maynard Keynes. They also discuss why the link to Gold reserves was eventually removed, the role of the IMF and World Bank, both born out of Bretton Woods, and whether now is the right time for another get together to sort out the world’s money system. With President Trump complaining a lot about currency manipulation lately, now seems as good a time as ever.

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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A little over 75 years ago World powers signed the Bretton Woods agreement, that saw the US dollar as the planet’s reserve currency, tied to reserves of Gold. In this week’s podcast Phil Dobbie talks to Prof Steve Keen about how the agreement missed the opportunity to create a separate reserve currency, the approach preferred by John Maynard Keynes. They also discuss why the link to Gold reserves was eventually removed, the role of the IMF and World Bank, both born out of Bretton Woods, and whether now is the right time for another get together to sort out the world’s money system. With President Trump complaining a lot about currency manipulation lately, now seems as good a time as ever.

Economics is still built around the age-old factors of production – land, labour, capital and, perhaps, entrepreneurship. Yet, you can’t run machines without power and you can’t expect workers to function without food. So why isn’t energy implicitly included as one of the key functions of the economy? Clearly it should be. In today’s Debunking Economics podcast Professor Steve Keen explains how he is working with climatologist Tim Garrett and mathematician Matheus Grasselli to develop a new model, one that reflects the importance of energy in the functioning of an economy and the limits it places on global growth.

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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